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I have a friend who works in a bank as a quant who thought the book would be too difficult for him (not because of the maths, but because of economic understanding)
Wow, a quant who's aware of the extent to which the quant finance industry cultivates economic illiteracy in its members.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Apr 23rd, 2014 at 04:11:55 AM EST
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And a comment that informs the rest of us about that!

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Apr 23rd, 2014 at 09:29:15 AM EST
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What, it's not common knowledge that finance people have no idea what they're talking about?

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Apr 23rd, 2014 at 09:31:18 AM EST
[ Parent ]
People may wonder about that, but few might have any idea that financial institutions prefer economic illiteracy amongst their quantitative analysts. I can see how that might keep quants, who are probably on average smarter than their financial side managers, from being quite so much a threat to their own sense of being a Master of the Universe, but it sure makes all of the decisions based on information from quants more dangerous to use.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Apr 23rd, 2014 at 11:02:36 PM EST
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