The funny thing with modern financial markets is that the next crisis always appears to be lurking around the corner. World barely seems to have climbed out of the mess it got itself into six years ago. Weekly, there are news of financial impropriety and insider chicanery from across the world. With glib con men … Continue reading Flash Boys: A Wall Street Revolt
The book review of 'The Misbehaviour of Markets' - one of the finest works of the late legendary mathematician Benoit Mandelbrot.
When the US subprime mortgage market took the nosedive in 2008, its ripples were felt across the world. The resulting cascading effect decimated one financial domino after another. Some institutions were rescued while others were left to go under. Often, it is in the catastrophic times like these that the long-standing, cherished doctrines are blown … Continue reading The Myth of the Rational Market
"The charm of history and its enigmatic lesson consist in the fact that from age to age, nothing changes and yet everything is completely different." - Aldous Huxley Niall Ferguson's 'The Ascent of Money' tracks the evolution of money from the erstwhile Babylonian tablets to the exotic financial instruments of modern day. It's a tale of human … Continue reading The Ascent of Money