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As an experiment, compare the relative merits of statistical arbitrage, black-scholes, and the gaussian copula (of mortgage backed securities fame) to Newtonian
by aswanson 17y ago
As an experiment, compare the relative merits of statistical arbitrage, black-scholes, and the gaussian copula (of mortgage backed securities fame) to Newtonian and quantum mechanics, general relativity, the germ theory of disease, DNA research, and any number of seminal papers in computing from the time of Turing to now. It seems fairly obvious to me that financial engineering is not in the same league.
- yummyfajitas 17y agoI guess I'm not sure what you mean by "in the same league". Statistical arbitrage, BS, etc form the fundamental theory of finance. It's certainly as fundamental to finance as DNA is to biology. In terms of real world impact, financial engineering is definitely greater than knowledge of DNA. So far genetics has gotten us very little in terms practical outcomes. Maybe you are just making a judgment that finance is less valuable than other fields? If so, I can't really argue with that.
- smanek 17y agoWow ... You seriously think knowledge of financial engineering has a greater impact than knowledge of DNA? You need some perspective.
- deleted 17y ago[deleted]
- yummyfajitas 17y agoIf you disagree, could you tell me the practical applications of genetics and how they affect the lives of most people? As far as I'm aware, all genetic engineering has gotten us is GM crops and a some drugs which only affect a few marginal cases. Hopefully that will change in the future, but I prefaced my statement with "so far".