{"product_id":"the-money-formula-dodgy-finance-pseudo-science-and-how-mathematicians-took-over-the-markets-paperback","title":"The Money Formula: Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets - Paperback","description":"\u003cp\u003eby \u003cb\u003ePaul Wilmott\u003c\/b\u003e (Author), \u003cb\u003eDavid Orrell\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003cb\u003eExplore the deadly elegance of finance's hidden powerhouse\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Money Formula\u003c\/i\u003e takes you inside the engine room of the global economy to explore the little-understood world of quantitative finance, and show how the future of our economy rests on the backs of this all-but-impenetrable industry. Written not from a post-crisis perspective - but from a \u003ci\u003epreventative\u003c\/i\u003e point of view - this book traces the development of financial derivatives from bonds to credit default swaps, and shows how mathematical formulas went beyond pricing to expand their use to the point where they dwarfed the real economy. You'll learn how the deadly allure of their ice-cold beauty has misled generations of economists and investors, and how continued reliance on these formulas can either assist future economic development, or send the global economy into the financial equivalent of a cardiac arrest. \u003c\/p\u003e\u003cp\u003eRather than rehash tales of post-crisis fallout, this book focuses on preventing the next one. By exploring the heart of the shadow economy, you'll be better prepared to ride the rough waves of finance into the turbulent future. \u003c\/p\u003e\u003cul\u003e \u003cli\u003eDelve into one of the world's least-understood but highest-impact industries\u003c\/li\u003e \u003cli\u003eUnderstand the key principles of quantitative finance and the evolution of the field\u003c\/li\u003e \u003cli\u003eLearn what quantitative finance has become, and how it affects us all\u003c\/li\u003e \u003cli\u003eDiscover how the industry's next steps dictate the economy's future\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eHow do you create a quadrillion dollars out of nothing, blow it away and leave a hole so large that even years of \"quantitative easing\" can't fill it - and then go back to doing the same thing? Even amidst global recovery, the financial system still has the potential to seize up at any moment. \u003ci\u003eThe Money Formula\u003c\/i\u003e explores the how and why of financial disaster, what must happen to prevent the next one.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR THE MONEY FORMULA\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"This book has humor, attitude, clarity, science and common sense; it pulls no punches and takes no prisoners.\"\u003cbr\u003e \u003cb\u003e--Nassim Nicholas Taleb, \u003c\/b\u003e Scholar and former trader \u003c\/p\u003e\u003cp\u003e\"There are lots of people who'd prefer you didn't read this book: financial advisors, pension fund managers, regulators and more than a few politicians. That's because it makes plain their complicity in a trillion dollar scam that nearly destroyed the global financial system. Insiders Wilmott and Orrell explain how it was done, how to stop it happening again - and why those with the power to act are so reluctant to wield it.\"\u003cbr\u003e\u003cb\u003e --Robert Matthews, \u003c\/b\u003e Author of \u003ci\u003eChancing It: The Laws of Chance and How They Can Work for You\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"Few contemporary developments are more important - and more terrifying - than the increasing power of the financial system in the global economy. This book makes it clear that this system is operated either by people who don't know what they are doing or who are so greed-stricken that they don't care. Risk is at dangerous levels. Can this be fixed? It can and this book - full of healthy skepticism and high expertise - shows how.\"\u003cbr\u003e\u003cb\u003e --Bryan Appleyard, \u003c\/b\u003e Author and \u003ci\u003eSunday Times\u003c\/i\u003e writer \u003c\/p\u003e\u003cp\u003e\"In a financial world that relies more and more on models that fewer and fewer people understand, this is an essential, deeply insightful as well as entertaining read.\" \u003cbr\u003e\u003cb\u003e --Joris Luyendijk, \u003c\/b\u003e Author of \u003ci\u003eSwimming with Sharks: My Journey into the World of the Bankers\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"A fresh and lively explanation of modern quantitative finance, its perils and what we might do to protect against a repeat of disasters like 2008-09. This insightful, important and original critique of the financial system is also fun to read.\" \u003cbr\u003e\u003cb\u003e --Edward O. Thorp, \u003c\/b\u003e Author of \u003ci\u003eA Man for All Markets\u003c\/i\u003e and New York Times bestseller \u003ci\u003eBeat the Dealer\u003c\/i\u003e\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003ePAUL WILMOTT\u003c\/b\u003e is a researcher, best-selling author, and consultant in most things quantitative, and has been a fund manager and academic. He is author of numerous books, including \u003ci\u003ePaul Wilmott on Quantitative Finance\u003c\/i\u003e and\u003ci\u003e Frequently Asked Questions in Quantitative Finance.\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDAVID ORRELL\u003c\/b\u003e is an applied mathematician, best-selling author and founder of Systems Forecasting, a scientific consultancy. He is the author of many books, including \u003ci\u003eThe Future of Everything\u003c\/i\u003e and \u003ci\u003eEconomyths\u003c\/i\u003e.\u003c\/p\u003e\u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 272\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.6 x 9.1 x 5.9 IN\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e June 12, 2017\u003c\/div\u003e","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":51758963065120,"sku":"9781119358619","price":37.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0974\/9764\/5344\/files\/51c361c54439ce535df1cb88a1eb723c.webp?v=1780140055","url":"https:\/\/ebocreations.com\/products\/the-money-formula-dodgy-finance-pseudo-science-and-how-mathematicians-took-over-the-markets-paperback","provider":"The E-Book Oasis LLC","version":"1.0","type":"link"}