There's Enough Math in Finance Already. What's Missing is Imagination.

[surrealnumber]

i see this as a firm endorsement of Austrian economics 

[rogueremis]

This was basically a really fancy way of saying. We can do 2+2=4, but we're really lacking in getting to actually know what people want and are interested for the future. We've lost Human connection.

[DonFuego1]

@rogueremis I thought it was basically saying we have mathematcial models that claim to predict risk, but we can't predict all possible scenarios. Our models are still limited, and need to be able to assess all possible scenarios even if they are infinite. We need to be more imaginative in our use of math to predict the future. What do you mean the "human connection".

[ZerkosXD]

this guy is ugly

[TunioMir]

Imagine this: A world where there IS perfect knowledge, a world where computers DO have ALL the information and the processing ability deal with it. I believe the only reason math is lacking is because there aren't enough variables considered.

[aSheeple]

@TunioMir what if there are an infinite number of variables? in reality you would at least have to include the minds of all inhabitants of planet earth, thats 7 billion variables. but that would still accumulate errors unless you went smaller. say all the cells in all human's brains, but there would still be errors, so you have to go smaller. like all molecules in all human bodys...... you can see where that's going. at some point it gets impractical to become more accurate.

[minimalist34]

no this guy is spot on, try to not apply the occupy wall street movement for a second and think purely as acting as individual. (BTW i support the ows movement). He's talk in terms of an investor, trying read the markets, foresee where capital will move, what will be vital, e.g. silicon valley late 80's, FDI in China 90's

[DonFuego1]

@minimalist34 What in the world are you talking about. What does OWS have to do with anything at all that this guy said about mathematicians and their models not being able to predict the infinite possible scenarios in a financial market.

[gera1262]

Bedazzled sounds like the Faust Legend.

[Starbattle64]

@kenji314159 Importance is relative.

[Anonymous247n]

NO, what's missing is COMPASSION.

[tankusfred]

@Anonymous247n What the... compassion? Compassion toward what? O_o

[Anonymous247n]

@tankusfred People.

[cammyjeee]

I'm not shooting that fookin' prawn!!!

[Klive5ive]

Ha!

What's missing in Finance is common sense.

The whole is Europe is screwed because everyone ignored the obvious... don't borrow money you can't pay back.

[xDaBeginninGx]

looks like im renting bedazzled tonight

[manonthemount]

The 'imaginative' area of finance is about adding a degree of mathematical complexity to financial instruments beyond what current regulations/safeguards and models were designed for, and predating investors and governments who lack sufficient protection or models.

[DonFuego1]

@manonthemount True, that is where most of the imagination is currently applied. Plenty of imagination in the creation of new instruments. Where we really need imagination is in the creation of a new regulatory structure that controls how all the instruments and institutions using them interact. Forget imagination in risk prediction, lets imagine some bankruptcy rules and work our way up from there.

[FinancialSP]

I just have to say though, how nice is it that most people don't find these videos of worth? Otherwise there would be incessant arguing and worthless comments.

[FinancialSP]

What's missing in finance is objectivity, hence why the power flows to people who are most objective. You can't finance delusion forever, but it sure gives us wild innovations.

[Kenji314159]

It's sad how bigthink raises people like him up onto the same platform with richard dawkins and other people like the guy who invented C++. Those are brilliant people, this guy is ordinary.

[Jinmane]

@Kenji314159 Look at this guy's Wikipedia page. He's actually remarkably accomplished, and far from ordinary.

[Kenji314159]

@Jinmane i cant find his name

[Jinmane]

@Kenji314159 It's in the video. Emanuel Derman.

[DonFuego1]

@Kenji314159 It's sad how people who are truly ordinary, like you, love to judge others as if they were somehow superior.

[Kenji314159]

@DonFuego1 Your statement is invalid. You wanted to say that I feel somehow superior but you accidentally said that the others feel somehow superior. If you want to offend me, use correct grammar please.

Either way, it's sad how you love to judge other people you don't know at all as if you were somehow superior.

[ArtisanTony]

His story was way to long and had no imagination.

[ArtisanTony]

@ArtisanTony *too



[Kenji314159]

I think it's the opposite. There's enough imagination, speculation and expectations in finance. We have to bring rationality and carefulness in finance! Which is basically equal to maths.

[luisr12491]

Thumbs up for RWJ!!!

[dilic]

@luisr12491 Why should we do that???... You mean that asshole with absolutely NO TALENT, that has managed to be the #1 subscribed person on Youtube, with videos he stole from other people? You dont have to be a rocket scientist to figure out that that guy is a douche. And yet you're here telling people to give "thumbs up" for RWJ... Or whatever that means.

But dont get me wrong, i dont care if you like him. BE MY GUEST. Im just trying to make you see an other side of looking at things ;)

[HannuMarijarvi]

@dilic Stealing means taking something from an another person so that the person no longer has it. You can't steal data.

[ImperialGeorge]

What is missing is the free market.

[ToxinalX]

Intelligence and morality = Capitalism and Generosity is missing

[twistedbass15]

Intelligence and morality is missing !!

[DonFuego1]

@twistedbass15 Actually a lot of the intelligence is in finance. Four or five of the best mathematicians of our time currently design mathematical models for high frequency trading firms. Arguably some of the most "intelligent" people on the planet work on the math end of finance.

[twistedbass15]

@DonFuego1 I can't remember what i said, youtube is still broken soz, where the bollx is my comment. WHO BROKE YOUTUBE !!??!!

[sftw009]

There's never enough math in anything.

[Ramsez]

alright already...

[raydredX]

Blasphemy!

It should restated as:

There's enough sucky math in finance already. What's missing is awesome math!!!

[ThElitE]

AHHHH! IT'S A TALKING NUT SACK!!!

[jonasianbuddy]

I saw the remake with Branden Fraser in it

[PSNDanjam123]

0:49 - 0:51 is that meant to happen to the audio?

[co2prod]

@PSNDanjam123 ooh that was weird

[whoamistupid]

wow only 3 comments

[XxiWOODz]

interesting..

[TambetTV]

That's really interesting.

[andrewmanford]

wtf