The Money Formula by Paul Wilmott
Dodgy Finance, Pseudo-Science, and How Mathematicians Took Over the Markets
A sharp, accessible critique of modern quantitative finance, arguing that elegant mathematical models often misrepresent reality and can amplify systemic risk. Tracing the rise of quants and the spread of tools like option pricing and value-at-risk, it blends history, case studies, and wry commentary to show how incentives, uncertainty, and model error fueled disasters from LTCM to the 2008 crisis. It calls for humility about prediction, more robust risk management, and reforms that align finance with real-world complexity.
- Published
- 2017
- Nationality
- British
- Length
- Unknown
- Pages
- Unknown
- Original Language
- English
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