The Money Formula. Wilmott Paul
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Название: The Money Formula

Автор: Wilmott Paul

Издательство: John Wiley & Sons Limited

Жанр: Зарубежная образовательная литература

Серия:

isbn: 9781119358688

isbn:

СКАЧАТЬ (1961, p. 88).

18

Edgeworth (1881, p. 16).

19

Jevons (1957).

20

Quetelet (1842).

21

Quoted in Bernstein (1998, p. 160).

22

We find this a bit disturbing. But not as disturbing as Alan Greenspan's extreme fondness for Ayn Rand. As he wrote in The Age of Turbulence, “Ayn Rand became a stabilizing force in my life… I was intellectually limited until I met her” (Greenspan, 2007).

23

Bockman (2013, p. 47).

24

Haldane (2014).

25

Para (1995).

26

E.g., Cliff Asness (co-founder of AQR Capital Management) (Patterson, 2009, p. 265).

27

Since displacements to the right are positive and displacements to the left are negative, the average is always zero, so it is more convenient to use the root mean square (RMS) – defined as the square root, of the average, of the squares. Measured this way, the deviation of the hypothetical stock from its starting point grows with the square root of time.

28

The standard deviation is just the RMS again, see note above, but with all distances measured from the mean rather than from zero.

29

Galton (1889).

30

Quoted in Bernstein (1998, p. 200).

31

Bachelier (1900).

СКАЧАТЬ