Here is a great documentary on Quants. Those genius mathematicians that come up with financial products to be sold to investors. Some of the formulas they come up with are so complicated that the people that sell them don’t understand them.
The investors do not understand the consequences of these financial products as well. Well, heck even the Quants do not know the true extent of the consequences if these products react to unforeseen circumstances. Some of these products were responsible for causing the 2008 crash due to complicated credit default swaps and mortgage backed securities.
StumbleUpon | Digg | Del.icio.us | Dzone | Newsvine | Spurl | Simpy | Furl | Reddit | Yahoo! MyWeb
