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Author : James Owen Weatherall
Publisher : Short Books
Page : 0 pages
File Size : 41,8 Mb
Release : 2013
Category : Forecasting
ISBN : 1780721390
A book which reveals the people and ideas on the cusp of a new era in finance.
Author : Volker Ziemann
Publisher : Springer Nature
Page : 292 pages
File Size : 49,5 Mb
Release : 2021-01-18
Category : Science
ISBN : 9783030636432
This book introduces physics students to concepts and methods of finance. Despite being perceived as quite distant from physics, finance shares a number of common methods and ideas, usually related to noise and uncertainties. Juxtaposing the key methods to applications in both physics and finance articulates both differences and common features, this gives students a deeper understanding of the underlying ideas. Moreover, they acquire a number of useful mathematical and computational tools, such as stochastic differential equations, path integrals, Monte-Carlo methods, and basic cryptology. Each chapter ends with a set of carefully designed exercises enabling readers to test their comprehension.
Author : James Owen Weatherall
Publisher : Houghton Mifflin Harcourt
Page : 309 pages
File Size : 45,5 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780547317274
A young scholar tells the story of the physicists and mathematicians who created the models that have become the basis of modern finance and argues that these models are the "solution" to--not the source of--our current economic woes.
Author : Emanuel Derman
Publisher : John Wiley & Sons
Page : 311 pages
File Size : 53,6 Mb
Release : 2016-01-11
Category : Business & Economics
ISBN : 9780470192733
In My Life as a Quant, Emanuel Derman relives his exciting journey as one of the first high-energy particle physicists to migrate to Wall Street. Page by page, Derman details his adventures in this field—analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. Throughout this tale, he also reflects on the appropriate way to apply the refined methods of physics to the hurly-burly world of markets.
Author : Jakob Schwichtenberg
Publisher : No-Nonsense Books
Page : 195 pages
File Size : 46,6 Mb
Release : 2019-02-11
Category : Science
ISBN : 8210379456XXX
Understanding modern physics doesn’t have to be confusing and hard What if there was an intuitive way to understand how nature fundamentally works? What if there was a book that allowed you to see the whole picture and not just tiny parts of it? Thoughts like this are the reason that Physics from Finance now exists. What will you learn from this book? Get to know all fundamental interactions —Grasp how we can describe electromagnetic interactions, weak interactions, strong interactions and gravity using the same key ideas.Learn how to describe modern physics mathematically — Understand the meaning and origin of the Einstein equation, Maxwell’s equations, and the Schrödinger equation.Develop an intuitive understanding of key concepts — Read how we can understand abstract ideas like Gauge Symmetry, Internal Spaces, Gauge Fields, Connections and Curvature using a simple toy model of the financial market.Get an understanding you can be proud of — Learn why fiber bundles and group theory provide a unified framework for all modern theories of physics. Physics from Finance is the most reader-friendly book on the geometry of modern physics ever written. Here’s why. First of all, it's is nothing like a formal university lecture. Instead, it’s like a casual conservation with a more experienced student. This also means that nothing is assumed to be “obvious” or “easy to see”.Each chapter, each section, and each page focusses solely on the goal to help you understand. Nothing is introduced without a thorough motivation and it is always clear where each formula comes from.The book contains no fluff since unnecessary content quickly leads to confusion. Instead, it ruthlessly focusses on the fundamentals and makes sure you’ll understand them in detail. The primary focus on the readers’ needs is also visible in dozens of small features that you won’t find in any other textbook In total, the book contains more than 100 illustrations that help you understand the most important concepts visually.Whenever a concept is used which was already introduced previously, there is a short sidenote that reminds you where it was first introduced and often recites the main points. In addition, helpful diagrams make sure you won’t get lost.
Author : Kirill Ilinski
Publisher : John Wiley & Sons
Page : 352 pages
File Size : 40,8 Mb
Release : 2001-02-08
Category : Business & Economics
ISBN : UOM:39015049713202
One of the newest and most controversial approaches to financial pricing. In Physics of Finance the author applies the methods of theoretical physics to financial economics to develop an altogether original method for pricing financial assets that steps outside the equilibrium paradigm in finance. In Physics of Finance, basic assumptions underlying equilibrium pricing are re-examined, the risk factors hidden in the implications of equilibrium theory and the potential profit in unstable markets are discussed and gauge modelling is introduced.
Author : Wolfgang Paul,Jörg Baschnagel
Publisher : Springer Science & Business Media
Page : 288 pages
File Size : 50,8 Mb
Release : 2013-07-11
Category : Science
ISBN : 9783319003276
This book introduces the theory of stochastic processes with applications taken from physics and finance. Fundamental concepts like the random walk or Brownian motion but also Levy-stable distributions are discussed. Applications are selected to show the interdisciplinary character of the concepts and methods. In the second edition of the book a discussion of extreme events ranging from their mathematical definition to their importance for financial crashes was included. The exposition of basic notions of probability theory and the Brownian motion problem as well as the relation between conservative diffusion processes and quantum mechanics is expanded. The second edition also enlarges the treatment of financial markets. Beyond a presentation of geometric Brownian motion and the Black-Scholes approach to option pricing as well as the econophysics analysis of the stylized facts of financial markets, an introduction to agent based modeling approaches is given.
Author : Johannes Voit
Publisher : Springer Science & Business Media
Page : 227 pages
File Size : 46,8 Mb
Release : 2013-06-29
Category : Science
ISBN : 9783662044230
A careful examination of the interaction between physics and finance. It takes a look at the 100-year-long history of co-operation between the two fields and goes on to provide new research results on capital markets - taken from the field of statistical physics. The random walk model, well known in physics, is one good example of where the two disciplines meet. In the world of finance it is the basic model upon which the Black-Scholes theory of option pricing and hedging has been built. The underlying assumptions are discussed using empirical financial data and analogies to physical models such as fluid flows, turbulence, or superdiffusion. On this basis, new theories of derivative pricing and risk control can be formulated.
Author : James Owen Weatherall
Publisher : Hachette UK
Page : 304 pages
File Size : 44,5 Mb
Release : 2013-02-07
Category : Business & Economics
ISBN : 9781780721408
A book which reveals the people and ideas on the cusp of a new era in finance... After the economic meltdown of 2008, many pundits placed the blame on "complex financial instruments" like derivatives, and the physicists and mathematicians who dreamed them up. But a young academic named James Owen Weatherall quickly began to question this narrative. Were the physicists really at fault? In this important and engaging book, Weatherall tells the story of how physicists came to Wall Street and how their ideas changed finance forever. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes, he shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The trouble is that models-whether in science or finance-have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn't understand their purpose, and didn't care. It was a catastrophic misuse of science. The solution, Weatherall argues in this brilliantly entertaining book, is not to give up on models; it is to simply make them better.
Author : Anatoly B. Schmidt
Publisher : Elsevier
Page : 179 pages
File Size : 52,6 Mb
Release : 2010-07-19
Category : Business & Economics
ISBN : 9780080492209
With more and more physicists and physics students exploring the possibility of utilizing their advanced math skills for a career in the finance industry, this much-needed book quickly introduces them to fundamental and advanced finance principles and methods. Quantitative Finance for Physicists provides a short, straightforward introduction for those who already have a background in physics. Find out how fractals, scaling, chaos, and other physics concepts are useful in analyzing financial time series. Learn about key topics in quantitative finance such as option pricing, portfolio management, and risk measurement. This book provides the basic knowledge in finance required to enable readers with physics backgrounds to move successfully into the financial industry. Short, self-contained book for physicists to master basic concepts and quantitative methods of finance Growing field—many physicists are moving into finance positions because of the high-level math required Draws on the author's own experience as a physicist who moved into a financial analyst position
Author : Fabio Oreste
Publisher : John Wiley & Sons
Page : 246 pages
File Size : 41,9 Mb
Release : 2011-06-24
Category : Business & Economics
ISBN : 9781118093528
A cutting-edge guide to quantum trading Original and thought-provoking, Quantum Trading presents a compelling new way to look at technical analysis and will help you use the proven principles of modern physics to forecast financial markets. In it, author Fabio Oreste shows how both the theory of relativity and quantum physics is required to makes sense of price behavior and forecast intermediate and long-term tops and bottoms. He relates his work to that of legendary trader W.D. Gann and reveals how Gann's somewhat esoteric theories are consistent with his applications of Einstein's theory of relativity and quantum theory to price behavior. Applies concepts from modern science to financial market forecasting Shows how to generate support/resistance areas and identify potential market turning points Addresses how non-linear approaches to trading can be used to both understand and forecast market prices While no trading approach is perfect, the techniques found within these pages have enabled the author to achieve a very attractive annual return since 2002. See what his insights can do for you.
Author : Don K Mak
Publisher : World Scientific
Page : 260 pages
File Size : 42,8 Mb
Release : 2003-03-19
Category : Business & Economics
ISBN : 9789814486842
In this book, Dr Mak views the financial market from a scientific perspective. The book attempts to provide a realistic description of what the market is, and how future research should be developed. The market is a complex phenomenon, and can be forecasted only with errors — if that particular market can be forecasted at all. The book reviews the scientific literatures on the financial market and describes mathematical procedures which demonstrate that some markets are non-random. How the markets are modeled — phenomenologically and from first principle — is explained. It discusses indicators, which are quite objective, rather than price patterns, which are rather subjective. Similarities between indicators in market trading and operators in mathematics are noted, and particularly, between oscillator indicators and derivatives in Calculus. It illustrates why some indicators, e.g., Stochastics, have limited usage. Several new indicators are designed and tested on theoretical waveforms to check their validity and applicability. The indicators have a minimal time lag, which is significant for trading purposes. Common market behaviors like divergences between price and momentum are explained. A skipped convolution technique is introduced to allow traders to pick up market movements at an earlier time. The market is treated as a nonlinear phenomenon. Forecasting of when the market is going to turn is emphasized. Contents:Is the Market Random?Models of the Financial MarketsSignals and IndicatorsTrending IndicatorsOscillator IndicatorsVertex IndicatorsVarious TimeframesWavelet AnalysisOther New TechniquesTrading SystemsFinancial Markets are Complex Readership: Investors, traders and undergraduate students of finance. Keywords:Trading;Complexity;Financial Market;Digital Signal ProcessingReviews:“… chapters of the book are devoted to signals and indicators that can model differences in successive price values, market tops and bottoms and other market's specific features. Several new indicators are designed. They are tested on theoretical wave forms before being applied on real market data. It is explained why certain market movements follow certain indicator response. Divergences between price and certain indicator responses are interpreted … Computer programs of the new indicators are included.”Zentralblatt MATH “The Science of Financial Market Trading by Don K Mak is an advanced level book that addresses several methodologies related to technical analysis in trading. The audience for the book may include (1) Institutional investment analysts with graduate level academic background, (2) Fund managers, who use many external sources for trading, (3) Graduate students in the field of finance and financial economics who want to find a career in financial market trading, and (4) PhD students who want to research in technical analysis … The book is written to draw audiences from both practitioners and academics and manages to keep the readers away from too much mathematical derivations. However, mathematical derivations are left in the Appendix for those who are interested in understanding the details … the book is well written from the beginning to the end, and chapters are well developed and well connected.”Journal of Risk and Insurance “The book draws heavily on mathematical modeling, digital information processing methods and mathematical tables to explain the movement of indicators under different conditions. The mathematical derivations and other mathematical techniques performed on these new indicators are useful for readers who want to acheive a deeper understanding of the financial market.”Translated from the Overseas Humanities Literature Wuhan University Newsletter
Author : Rosario N. Mantegna,H. Eugene Stanley
Publisher : Cambridge University Press
Page : 164 pages
File Size : 55,5 Mb
Release : 1999-11-13
Category : Business & Economics
ISBN : 9781139431224
This book concerns the use of concepts from statistical physics in the description of financial systems. The authors illustrate the scaling concepts used in probability theory, critical phenomena, and fully developed turbulent fluids. These concepts are then applied to financial time series. The authors also present a stochastic model that displays several of the statistical properties observed in empirical data. Statistical physics concepts such as stochastic dynamics, short- and long-range correlations, self-similarity and scaling permit an understanding of the global behaviour of economic systems without first having to work out a detailed microscopic description of the system. Physicists will find the application of statistical physics concepts to economic systems interesting. Economists and workers in the financial world will find useful the presentation of empirical analysis methods and well-formulated theoretical tools that might help describe systems composed of a huge number of interacting subsystems.
Author : B. E. Baaquie
Publisher : Cambridge University Press
Page : 717 pages
File Size : 48,6 Mb
Release : 2018-08-23
Category : Business & Economics
ISBN : 9781108423151
This book provides an introduction to how the mathematical tools from quantum field theory can be applied to economics and finance. Providing a range of quantum mathematical techniques for designing financial instruments, it demonstrates how a range of topics have quantum mechanical formulations, from asset pricing to interest rates.
Author : Ashley S. Lipson
Publisher : Unknown
Page : 0 pages
File Size : 55,6 Mb
Release : 2011
Category : Evidence, Expert
ISBN : 1594609640
As the first pedagogical casebook combining the subjects of Mathematics, Physics, Finance and Law, this treatise is predicated on the notion that lawyers are ill-prepared to face a world dominated by numbers and the many who know how to distort and misrepresent them. The title of the book can be deceiving, particularly because the book is designed to avoid the tedious topics and calculations which would typically fall under its headings. Moreover, the book is designed to take an important trio of crucial topics and spoon feed them to the people who need them the most but like them least -- law students. Many jokingly state that they became law students because they couldn't handle numbers. A rude awakening, however, soon confronts them in practice, where numbers are the primary focus of their careers. Nearly every chapter of this book provides information that all lawyers must possess; some of the information is indispensable. We live in a scientific world, a digital world -- one that is ruled by numbers, equations, formulas and statistics. The topics may seem complex, but the explanations are elementary and, at times, entertaining.
