If stock market economics worked, Noble prize winners would make money.
(This is slightly unfair, since the Black-Merton-Scholes theory does make other people money, to an extent. Additionally, while Merton and Scholes were on the board, LTCM was not strictly based on their theories. Still, surprised to see that this hasn’t been mentioned.)
If stock market economics worked, Noble prize winners would make money.
(This is slightly unfair, since the Black-Merton-Scholes theory does make other people money, to an extent. Additionally, while Merton and Scholes were on the board, LTCM was not strictly based on their theories. Still, surprised to see that this hasn’t been mentioned.)