EppsNet Archive: Finance

Get Rich Making Dumb Decisions

The people on the short side of the subprime mortgage market had gambled with the odds in their favor. The people on the other side — the entire financial system, essentially — had gambled with the odds against them. Up to this point, the story of the big short could not be simpler. What’s strange and complicated about it, however,… Read more →

EppsNet Book Reviews: The Big Short by Michael Lewis

I worked in the information technology department of a mortgage bank in the run-up to the 2007 implosion of the subprime mortgage market . . . Given that it was fairly evident at the time that complicated financial instruments were being dreamed up for the sole purpose of lending money to people who could never repay it, it’s remarkable that very… Read more →

Academically Speaking, I’ve Still Got the Geedus

I took a Computational Finance midterm over the weekend on Coursera. I’ve taken a few Coursera classes before — they had quizzes, problem sets, programming assignments, essays — but none of them had a midterm or final exam. It’s the first academic exam I’ve taken in at least a couple of decades, and the first exam ever in which —… Read more →

Will Financial Regulation Make a Difference?

Banks are expected to find ways to offset the impact of the new financial regulations on their earnings, though they face a potentially complex process of adapting to the new requirements, analysts said on Friday. The share prices of some of the biggest United States banks, including Citigroup, JPMorgan Chase and Bank of America, were higher in afternoon trading, hours… Read more →

Goldman Sachs

I was shocked and dismayed –I think we all were- to learn that Goldman Sachs had been involved in whatever it was they did. I had always ranked them with unlicensed boxing promoters and taxi drivers in Cairo, as people who inspire one with absolute confidence. — Chase me ladies, I’m in the cavalry Read more →