Is Phil Angelides...

[KrazyHorse]

incredibly disingenuous or incredibly stupid?

Shouldn't a person overseeing the FCIC understand the fundamental idea behind dynamic hedging, and how useless it renders the concept of pnl attribution to individual contracts?

[Asher]

I will defer to your judgment.

[Hauldren Collider]

I agree with the people who are smarter and more knowledgeable than me.

Cue Kidicious insisting that price/wage controls are the way to go.

[Wiglaf]

He went to Harvard and you went to McGill, it is pretty obvious you are the full ****** here, and that women no longer hit on you. I'm not sure if what you have can even be diagnosed anymore...

[KrazyHorse]

I suppose I shouldn't blame him; even relatively junior people with real jobs make more than the pittance they pay to politicians.

[KrazyHorse]

On May 22, 2006 in Santa Monica, Angelides announced his support for Vinod Khosla's Clean Alternative Energy Initiative (prop. 87) which, if enacted, would assess oil company profits by $4,000,000,000 over the next ten years and use the proceeds to invest into research for alternative energy such as ethanol. The measure makes it illegal for oil producers to pass the cost onto consumers.[26]

[KrazyHorse]

I'm going to make it illegal for gravity to cause masses to attract each other.

[Hauldren Collider]

To be fair, Obamanomics is pretty much full of these things

[KrazyHorse]

I am am disappointed that more people aren't interested in the foundations of modern finance.

[DaShi]

Because, like physics it's just a bunch of made up rules to explain observable phenomenon.

[KrazyHorse]

That's a good thing.

[Jon Miller]

Because, like physics it's just a bunch of made up rules to explain observable phenomenon.

Many physicists don't think that.

JM

[KrazyHorse]

Yes, but they're nuts.

Physics (and mathematical finance) are better than the alternatives because they provide a set of relatively simple assumptions/rules with strong predictive and explanatory power....

[Al B. Sure!]

I am am disappointed that more people aren't interested in the foundations of modern finance.

Finance is the most popular major for an MBA and is one of the most popular undergraduate degrees. There's definitely an audience who is interested.

[Dauphin]

I sometimes feel that financial models are analagous to species under Darwinian pressures.

A theory works, therefore it is considered probably correct, as compared to another theory that doesn't work as well. Different theories thrive or fail in different environments and keep adapting to remain relevant. In the end, a theory that worked so well up to that point can come to an evolutionary dead end, slowly or catastrophically. Also, the same basic theory can contain attributes developed independently in different guises several times, and often ends up a dead end trait.