10 March 2009
Quote of the Day
Filed under Hero
As Dr. Derman put it in his book “My Life as a Quant: Reflections on Physics and Finance,” “In physics there may one day be a Theory of Everything; in finance and the social sciences, you’re lucky if there is a useable theory of anything.”
via New York Times
2009-03-10 :: admin
11 March 2009 @ 3:48 pm
Many people forget the market is psychological. The theory he used does not make that assumption. It assumes all investors are rational. Ha Ha! Physics and psychology don’t mix. You can do math on physics but not on psychology.