Finance

The Quantum Pontiff

Category archives for Finance

If Only It Were This Easy

Via Alea: the CME trading simulation game. If only it were this easy: I suspect that in the real world, doing the opposite of what I did would be required to actually make money

Ponzi Of a Billion Dollar Kind

Holy mole: a $50 billion dollar Ponzi scheme run by Bernard L. Madoff. That’s an astounding amount of money if true. Update: This is now big news, of course. For an interesting read of someone who has been pursuing this fraud since 1999 see The World’s Largest Hedge Fund is a Fraud by Harry Markopolos.…

Winners and Loser Among Hedge Funds

When sky’s fall, apparently they do not fall equally everywhere (contrary to popular theory.) A partial is of those who’ve held up the sky (and even pushed higher) in this New York Times article: Bernard V. Drury is a rarity on Wall Street: a hedge fund manager who is making money rather than losing it.…

You know it’s a heavy volume day when even Google can’t handle it: Your message could not be posted to the DOW JONES INDUSTRIAL AVERAGE INDEX group because there have been too many messages posted to the group recently.

Markets

Fear Google’s view of capitulation Irrationality? Anyone seen any old men with canes yet? Crisis per capita winner? Iceland. Will the last one leaving Reykjavík please tear up that recipe for Súrsašir hrútspungar? Panics 1812, 1837, 1869, 1873, 1882, 1884, 1896, 1901, 1907,1937, 1973, 1987, 1989, 1992, 1997, 2001. Add 2008. Just over a hundred…

Analyzing Games

Yes, it’s all finance all the time, here at the Pontiff. Where else can you go to get your daily dose of extralusionary intelligence? Once again it’s a New York Times article Maybe Short-Selling Isn’t So Bad, After All. Now I don’t know much about how the changes in shorting stock (the removal of the…

Picking on the Quantum Physicists

From this Sunday’s New York Times in an article entitled Wall Street, R.I.P.: In search of ever-higher returns — and larger yachts, faster cars and pricier art collections for their top executives — Wall Street firms bulked up their trading desks and hired pointy-headed quantum physicists to develop foolproof programs. Quantum physicists? Come on media…

Mattress Money

There are many things I do not understand in the wide world of finance, but the one which perplexes me the most is why people believe that their money is safe under their mattress.

What These Days Remind Me Of…

“Dreams of poverty excited universal enjoyment in Berkeley, coupled with the hope that the political and economic situation would worsen, throwing the country into ruin: this was the theory of the activists. Misfortune so vast it would wreck everyone, responsible and not responsible sinking into defeat…” – from The Transmigration of Timothy Archer by Philip…

Rounding DeLong

IANAE (that’s I am not a person with severe physics envy but who is compensated for this fact by earning a higher salary than a physicist), but I do not understand Brad DeLong: Traders! Read the second page of the statistical release before you press the button! Meredith Beechey…and Jonathan Wright have details: FRB: FEDS…