Re:Madoff whistleblower Harry Markopolos calls GE a ‘bigger ...
by hitekker on Thursday August 15, 2019 @12:00PM
(#20706357)
For those momentarily misled by this condescending comment:
> Despite its name, financial engineering does not belong to any of the fields in traditional professional engineering
> It is generally (but not always) a disparaging term, implying that someone is profiting from paper games at the expense of employees and investors.
>Many other authors have identified specific problems in financial engineering that caused catastrophes: Aaron Brown[23] named confusion between quants and regulators over the meaning of “capital”, Felix Salmon[24] gently pointed to the Gaussian copula, Ian Stewart[25] criticized the Black-Scholes formula, Pablo Triana[26] dislikes value at risk and Scott Patterson [27][28] accused quantitative traders and later high-frequency traders.
> Despite its name, financial engineering does not belong to any of the fields in traditional professional engineering
> It is generally (but not always) a disparaging term, implying that someone is profiting from paper games at the expense of employees and investors.
>Many other authors have identified specific problems in financial engineering that caused catastrophes: Aaron Brown[23] named confusion between quants and regulators over the meaning of “capital”, Felix Salmon[24] gently pointed to the Gaussian copula, Ian Stewart[25] criticized the Black-Scholes formula, Pablo Triana[26] dislikes value at risk and Scott Patterson [27][28] accused quantitative traders and later high-frequency traders.
https://en.wikipedia.org/wiki/Financial_engineering#Criticis...