And speaking of Black-Scholes, Barron's, p. 26:
<<... Long-Term Capital Management, the multibillion-dollar hedge fund founded by Wall Street's legendary trader, John Meriwether, and advised by [fake(*)] Nobel Laureate Myron Scholes. The Greenwich, Connecticut-based investment management firm announced last week that its fund had lost a staggering $2.1 billion, or 44% of its value, in August, bringing its year-to-date losses to 52%.>>
(*) as I posted before, there is no Nobel Prize in economics, only self-created so-called "Nobel Memorial Prize in economics", established in 1970, and not related in any way to the five real Nobel prizes or the Nobel Foundation. |
