The Physics of Wall Street: a brief history of predicting the unpredictable
(eAudiobook)
After the economic meltdown of 2008, Warren Buffett famously warned, "beware of geeks bearing formulas." But as James Weatherall demonstrates, not all geeks are created equal. While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models-whether in science or finance-have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn't understand their purpose, and didn't care. It was a catastrophic misuse of science. The solution, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. We see a geophysicist use a model designed for earthquakes to predict a massive stock market crash. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future.
Notes
Weatherall, J. O., & Griffith, K. (2013). The Physics of Wall Street: a brief history of predicting the unpredictable. Unabridged. [United States], Tantor Media, Inc.
Chicago / Turabian - Author Date Citation (style guide)Weatherall, James Owen and Kaleo, Griffith. 2013. The Physics of Wall Street: A Brief History of Predicting the Unpredictable. [United States], Tantor Media, Inc.
Chicago / Turabian - Humanities Citation (style guide)Weatherall, James Owen and Kaleo, Griffith, The Physics of Wall Street: A Brief History of Predicting the Unpredictable. [United States], Tantor Media, Inc, 2013.
MLA Citation (style guide)Weatherall, James Owen, and Kaleo Griffith. The Physics of Wall Street: A Brief History of Predicting the Unpredictable. Unabridged. [United States], Tantor Media, Inc, 2013.
Hoopla Extract Information
hooplaId | 11413325 |
---|---|
title | The Physics of Wall Street |
kind | AUDIOBOOK |
price | 2.51 |
active | 1 |
pa | 0 |
profanity | 0 |
children | 0 |
demo | 0 |
rating | |
abridged | 0 |
dateLastUpdated | Mar 06, 2024 12:07:17 AM |
Record Information
Last File Modification Time | Nov 23, 2023 02:52:12 AM |
---|---|
Last Grouped Work Modification Time | Mar 28, 2024 02:11:39 AM |
MARC Record
LEADER | 03472nim a22004575a 4500 | ||
---|---|---|---|
001 | MWT11413325 | ||
003 | MWT | ||
005 | 20231027110523.1 | ||
006 | m o h | ||
007 | sz zunnnnnuned | ||
007 | cr nnannnuuuua | ||
008 | 231027o2013 xxunnn eo z n eng d | ||
020 | |a 9781452692272|q (sound recording : hoopla Audio Book) | ||
020 | |a 1452692270|q (sound recording : hoopla Audio Book) | ||
028 | 4 | 2 | |a MWT11413325 |
029 | |a https://d2snwnmzyr8jue.cloudfront.net/ttm_9781452692272_180.jpeg | ||
037 | |a 11413325|b Midwest Tape, LLC|n http://www.midwesttapes.com | ||
040 | |a Midwest|e rda | ||
099 | |a eAudiobook hoopla | ||
100 | 1 | |a Weatherall, James Owen,|e author. | |
245 | 1 | 4 | |a The Physics of Wall Street :|b a brief history of predicting the unpredictable|h [electronic resource] /|c James Owen Weatherall. |
250 | |a Unabridged. | ||
264 | 1 | |a [United States] :|b Tantor Media, Inc.,|c 2013. | |
264 | 2 | |b Made available through hoopla | |
300 | |a 1 online resource (1 audio file (600 min.)) :|b digital. | ||
336 | |a spoken word|b spw|2 rdacontent | ||
337 | |a computer|b c|2 rdamedia | ||
338 | |a online resource|b cr|2 rdacarrier | ||
344 | |a digital|h digital recording|2 rda | ||
347 | |a data file|2 rda | ||
506 | |a Instant title available through hoopla. | ||
511 | 1 | |a Read by Kaleo Griffith. | |
520 | |a After the economic meltdown of 2008, Warren Buffett famously warned, "beware of geeks bearing formulas." But as James Weatherall demonstrates, not all geeks are created equal. While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models-whether in science or finance-have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn't understand their purpose, and didn't care. It was a catastrophic misuse of science. The solution, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. We see a geophysicist use a model designed for earthquakes to predict a massive stock market crash. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future. | ||
538 | |a Mode of access: World Wide Web. | ||
650 | 0 | |a Business. | |
650 | 0 | |a Chaotic behavior in systems. | |
650 | 0 | |a Mathematics. | |
700 | 1 | |a Griffith, Kaleo,|e reader. | |
710 | 2 | |a hoopla digital. | |
856 | 4 | 0 | |u https://www.hoopladigital.com/title/11413325?utm_source=MARC&Lid=hh4435|z Instantly available on hoopla. |
856 | 4 | 2 | |z Cover image|u https://d2snwnmzyr8jue.cloudfront.net/ttm_9781452692272_180.jpeg |