Showing posts with label states of nature involving derivatives trading. Show all posts
Showing posts with label states of nature involving derivatives trading. Show all posts

Wednesday, September 16, 2009

Hobbesian, Really

Uh, what?

“Good or bad, moral or immoral, people are going to make markets and trade via computers, and this is a natural area of financial engineers,” says Emanuel Derman, a professor at Columbia University and a former Wall Street quant.

Yup, out here in the jungle -- the perfect state of nature that exists south of Canal Street -- people are just inevitably going to execute complex trades relating to obscure financial products with insane amounts of leverage and without any oversight or regulation ...

It's just natural.