Wired magazine has an excellent article about what went wrong on Wall Street, leading to the current recession. One large factor was the reliance on dubious mathematical models to manage risk. The article focuses on a formula that was at the heart of many of these models. You can find the article at http://www.wired.com/techbiz/it/magazine/17-03/wp_quant.
Posts from ‘February, 2009’
This, among other things… [youtube]http://www.youtube.com/watch?v=Ek3wjUnjwnI[/youtube]