Re: [Pen-l] Benoit Mandelbrot and the wildness of financial markets: SciAm

[Shane Mage <shmage@xxxxxxxxxxxx>]

On Mar 17, 2009, at 11:36 AM, Les Schaffer wrote:

...he looked at me and gave me a nice big warm smile, and said, the  

codes run and give the clients prices for options, and the clients still  

make money and the codes are new, so all is good. when the clients tire of

these codes and think something else is needed to reinvigorate their

business (or profits, or whatever it is they do over there), they will

want other codes, and evaluate them similarly.

i'll leave you decide whether this is anything like a physical science

with the words changed.

he looked at me and gave me a nice big warm smile, and said, the dark  
matter and dark energy compute and give the astrophysicists consistent  
equations for their big-bang model universe, and the astronomers still  
publish and are believed that the data fits their big bang model, and  
the entities are new, so all is good. When the data trips over these  
entities and they think a few new dimensions or something is needed to  
validate their model of the universe, they will want other new  
entities, and evaluate them similarly.


Shane Mage

This cosmos did none of gods or men make, but it

always was and is and shall be: an everlasting fire,

kindling in measures and going out in measures."

Herakleitos of Ephesos

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