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Future of Financial Mathematics?
An anonymous reader writes “Nassim Nicholas Taleb, a famous ‘Quant,’ has long been a strong critic of the use of mathematics and statistics in the financial markets. He has been very vocal in his books The Black Swan and Fooled by Randomness. In his article on edge.org, he says ‘My outrage is aimed at the scientist-charlatan putting society at risk using statistical methods. This is similar to iatrogenics, the study of the doctor putting the patient at risk.’ After the recent financial crisis, wired.com ran an article titled ‘Recipe for Disaster: The Formula That Killed Wall Street’ in which the quant David Li and his Gaussian Copula were crucified — we discussed it at the time. Now, I’ve recently been admitted to a graduate program of good repute in Computational & Applied Mathematics. There is a wide range of subjects in which you can pursue your PhD, one of them being Financial Mathematics. I had a passing interest in it for quite some time. In the current scenario, how advisable it is to pursue a PhD in this topic? What would my options be five years down the line? Will the so-called ‘quants’ still be wanted by the banks and other financial institutions, or will they turn to more ‘non-math’ approaches? Would I be better off specializing in less volatile areas of Applied Mathematics? In short, what is the future of Financial Mathematics in light of the current financial crisis?”
Read more of this story at Slashdot.
The Circus Widens In Aftermath of Pirate Bay Verdict
MaulerOfEmotards sends along an in-depth followup, from the Swedish press, of our discussion the other day about the biased trial judge in the Pirate Bay case. “The turmoil concerns Tomas Norström, the presiding judge of The Pirate Bay trial, who is suspected of bias after reports surfaced of affiliation with copyright protection organizations. For this he has been reported to the appeals court (in Swedish; translation here). The circus around the judge is currently focused on three points. First, his personal affiliation with at least four copyright protection organizations, a state the potential bias of which he himself fails to see and refuses to admit. Secondly, Swedish trials use a system of several lay assessors to supervise the presiding judge. One of these, a member of an artists’ interest organization, was forced by Mr. Norström to resign from the trial for potential bias. The judge’s failure to see the obvious contradiction in this (translation) casts doubts on his suitability and competence. Thirdly, according to professor of judicial sociology Håkan Hydén (translation), the judge has inappropriately ‘duped and influenced the lay assessors’ during the trial: ‘a judge that has decided that “this is something we can’t allow” has little problem finding legal arguments that are difficult for assisting lay assessors to counter.'” Click the link below to read further on Professor Hydén’s enumeration of “at least three strange things in a strange trial.” On a related note, reader Siker adds the factoid that membership in the Pirate Party exploded 150% in the week following the verdict. The Pirate Party now surpasses in size four smaller parties in Sweden, and is closing in on a fifth. Political fallout could ensue as soon as June, when an election for EU parliament will be held.
Read more of this story at Slashdot.
First Android/ARM Netbook To Cost $250, Maker Says
ericatcw writes “There was a flurry of excitement earlier this week when the first Google Android netbook, the Skytone Alpha 680, was spotted by Slashdotters. Now, Computerworld has scored an exclusive interview with Skytone’s co-founder. Among many tidbits, he reveals that the Alpha 680 builds upon the success of last year’s 0 Alpha 400, which shipped 100,000 units, mostly in Europe under names such as Elonex OneT; that the new Alpha 680 will weigh 1.5 pounds, 25% less than the first Eee 701 netbook; that its ARM11 chip (basically the same as the one used in the iPhone) can handle YouTube video; and that he hopes to have Chinese manufacturing partners producing the 0 Alpha 680 within 3 months.”
Read more of this story at Slashdot.
Fighting Deadly Flu, Mexico Cancels More Events – New York Times
ABC News |
Fighting Deadly Flu, Mexico Cancels More Events
New York Times Gregory Bull/AP Hundreds of public concerts, sporting events and meetings were canceled in Mexico City on Saturday as authorities tried to contain an outbreak of swine flu. Video: Swine flu in Mexico KXAN.com Mexico fights swine flu with 'pandemic potential' The Associated Press Vancouver Sun – CBC.ca – Reuters – BBC News all 5,382 news articles |
Mr. Zuma Goes to Pretoria – Globe and Mail
BBC News |
Mr. Zuma Goes to Pretoria
Globe and Mail JOHANNESBURG – The final election results are out, and the African National Congress has another landslide victory – but just short of the two-thirds majority that has symbolic and psychological value in South Africa. South Africa's ANC fails to get 2/3 of seats The Associated Press Final Results Show Resounding Victory for ANC in South Africa New York Times BBC News – Radio Netherlands – Xinhua – Reuters all 5,243 news articles |
From Sandy Strip of Sri Lanka, Tales of Suffering as War Bears Down – New York Times
Times Online |
From Sandy Strip of Sri Lanka, Tales of Suffering as War Bears Down
New York Times A Sri Lankan soldier on Friday looked over civilians who had fled the war zone in the northern part of the country controlled by Tamil rebels. Video: Sri Lankan civilians trapped in 'no fire zone' – 25 Apr 09 Al Jazeera Anticipating an end to Sri Lanka's war BBC News Telegraph.co.uk – Aljazeera.net – Voice of America – The Associated Press all 6,779 news articles |