- Paperback: 320 pages
- Publisher: Penguin Books Ltd; New edition edition (25 Jan 2001)
- Language English
- ISBN-10: 0140232753
- ISBN-13: 978-0140232752
- Product Dimensions: 19.2 x 12.6 x 1.8 cm
- Average Customer Review: 3.5 out of 5 stars See all reviews (4 customer reviews)
- Amazon Bestsellers Rank: 1,049,851 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Description
Product Description
How could a band of physicists in sandals and "Eat the Rich" T-shirts hope to take on the leading lights of high finance? They had never even read the "Journal". But they did know that global finance is an irrational, complex system bordering on chaos. Since two of them, Doyne Farmer and Norman Packard, happened to be among the founders of the new science of chaos and complexity, perhaps they could give it a try. Now, several years - and many millions of dollars - later, they continue one of the most significant winning streaks in the history of Wall Street. Thomas Bass first made readers aware of cult heroes Farmer and Packard when he chronicled their assult on the casinos of Las Vegas. Here Bass takes us inside their start-up company, at first a group of long haired PhDs with no furniture and no money, as they nervously test their computer forecasting models. As confidence builds, Farmer and Packard buy a company Italian suit and take turns travelling to the centres of financial power, where they find investors. Yet the real test is still to come: what will happen when they go live with real money? Funny and engaging, as well as a brisk education in chaos, complexity and world financial markets, Farmer and Packard's adventures gambling on Wall Street should delight anyone who has ever dreamed of finding that edge to beat the system.
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Customer Reviews
Most Helpful Customer Reviews
1 of 1 people found the following review helpful
Format:Hardcover
Enter the fast moving world of chaos, complexity and financial derivatives as a group of physicists strive for the modern Holy Grail, the prediction of financial futures. This is one of those books that promise much but never quite manages to deliver. We want to know what chaos theory is and how it can be used to predict the prices of financial futures, but we never quite get to know. We learn a lot about what it is like to live and work in Santa Fe, to be part of a team of what are basically enthusiastic amateurs struggling to get to grips with a world which is not their own; physicists adrift in a sea of options and interest rate futures. This book is not a technical work, it is almost anthropological in style, but if you are more interested in the intricacies of human relationships than those of quarks, and neural networks, then you will probably quite enjoy it.
1 of 1 people found the following review helpful
Format:Hardcover
This is an excellent book, yet I feel the author wanders off the plot into pointless detail about Santa Fe and even what the Science Hut's wives are wearing. Provided you skim over these paragraphs there is some interesting information here - especially if you are thinking of creating a start-up.
1 of 1 people found the following review helpful
Format:Hardcover
Thomas Bass delves into the world of the Prediction Company - formed by Chaos physicists, who decide that they can predict the financial markets and thus beat them!
The book follows the would-be Gordon Gekko's as they learn about the markets and attempt to reconcile their sense of adventure with the harsh practicalities of the modern world.
This book is a must read for anyone connected with the derivatives world and is written in an easy relaxed style that helps the reader to enjoy and feel a part of the adventure, as well as explaining Chaos theory and it's applications in the market place.
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