Review: The Money Formula: Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets by Paul Wilott and David Orrell is a “worthwhile read.” (Reading the Markets)
Quote of the Day
For investment decision makers, those two questions should always be at the ready: “Is that actually what happened? Do we really understand it?”(Tom Brakke)
Chart of the Day
The CDS market is in secular decline.