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A review by milandeep
Cuando los físicos asaltaron los mercados: La historia de cómo se trató de predecir lo impredecible by James Owen Weatherall
1.0
Warren Buffett bashing is a common past-time of a certain type of people. They like to say, he can't predict market movements, but we can. They are computer geeks, mathematicians and physicists who happen to ditch their own fields of science and want to make bucket loads of money – and very quickly. They jump into finance like greedy monkeys. After failing to predict every disaster, they say - the crisis was partly a failure of mathematical modelling. Have they heard of randomness? May be. Do they know that there is something called uncertainty? They think they can model it. So, did their models predict the coronavirus? Did it predict the Russian invasion of Ukraine? They arbitrage securities in complex trading strategies. When it works, they can make millions or sometimes even billions. When their models fail, the government bails them out to prevent widespread economic collapse.