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UK Government explores the future challenges and opportunities of computer trading in financial markets

June 17, 2011 Comments (0)

The UK Government Office for Science has embarked on its latest Foresight project, which will examine the challenges and opportunities presented by technological advances in financial markets worldwide.In recent years the ways in which financial markets operate have been transformed by fast-paced technological progress. For example, the volume of financial products traded through computer automated trading - taking place at high speed and with little human involvement - has increased...

Computers That Trade on the News

June 17, 2011 Comments (0)

Graham Bowley writes in the New York Times:

The number-crunchers on Wall Street are starting to crunch something else: the news.Math-loving traders are using powerful computers to speed-read news reports, editorials, company Web sites, blog posts and even Twitter messages — and then letting the machines decide what it all means for the markets.The development goes far beyond standard digital fare like most-read and e-mailed lists. In some cases, the computers are actually parsing...

Call for Proposals 2011 – Faculty Research Award Competition Financial Literacy - Behavioral Finance and Stock Investment

June 15, 2011 Comments (0)

Via: The College of Business at the University of Michigan-Dearborn
The College of Business at the University of Michigan-Dearborn has established the Betty F. Elliott Initiative for Academic Excellence (Elliott Initiative) out of the expendable gift received from a generous donor. It is hoped that this initiative will have a major impact on the College of Business’s strategic efforts over the next ten years and beyond.
The Elliott Initiative will develop a compelling...

Book Review: Minding the Markets: An Emotional Finance View of Financial Instability by Professor David Tuckett

June 5, 2011 Comments (0)

Heather Stewart reviews Professor David Tuckett's examination of the trading psychology of 50 billionaire investors:

In Minding the Markets Prof David Tuckett, from University College London, argues that contemporary economics, with its neat mathematical models and fully rational robot-like decision-makers, fatally under-estimates the importance of emotions.
There is plenty of economic research – by George Akerlof and Robert Shiller, for example – on the psychology of market...

Food Prices and Speculation - Quotes from Dan Basse, president of AgResource

June 3, 2011 Comments (0)

"There's a lot of weather in the market, the northern growing season has been traumatic, with drought in Europe and China and tornadoes and floods in the US. No one is panicked yet, but any additional crop loss, say in Russia, will quickly bring new worry to the market and that could quickly turn to panic. We may be one more event away from panic..."

"Speculation is the easy thing to point the finger at and it's easy to fix. Back in 2008, when prices were up and there was lots of...

Xavier Gabaix awarded American Finance Association Fischer Black Prize 2011

May 7, 2011 Comments (0)

The American Finance Association is pleased to announce the award of the 2011 Fischer Black Prize to Xavier Gabaix, the Martin J. Gruber Professor of Finance at the New York University Stern School of Business.
The Fischer Black Prize is awarded biannually to a financial economist under age 40 for a body of original research that is relevant to finance practice as exemplified by the research of the late Fischer Black, the co-author of the seminal Black-Scholes option pricing model...

Popular MoneyScience 2010

May 7, 2011 Comments (0)

Our annual review of the most popular articles published at MoneyScience over the course of the year!

Quantitative Finance
Risk Management
People and Awards
Papers and Research
Hedge Funds
High Frequency Trading
Business Schools and Education

Quantitative Finance

Audio and Slides from The Fields Institute Thematic Program on Quantitative Finance
Documentary - Quants, the Alchemists of Wall Street...

Peter Carr - IAFE-SunGard 2010 Financial Engineer of the Year

May 7, 2011 Comments (0)

Peter Carr, managing director and global head of market modeling for Morgan Stanley, was named the 2010 IAFE/SunGard Financial Engineer of the Year (FEOY). The award was presented to Dr. Carr on February 10, 2011, at the New York Stock Exchange in New York City, during the IAFE/SunGard FEOY Award Gala Dinner. Commenting on his 2010 FEOY award, Dr. Carr said, "As the world economy regenerates, it becomes increasingly important for financial engineers to connect with each other, as well as to...

The Future of Finance: The LSE Report

May 4, 2011 Comments (0)

What is the financial system for? What is the future of finance? The LSE Report is published
This book presents a novel approach to the reform of the world’s financial system, starting with the basic question, what is a financial system for? It shows that the existing system has become far more complicated than it needs to be to discharge its functions – and dangerously unstable into the bargain. It proposes some drastic remedies. The Future of Finance: The LSE Report is...