Amercian Dream or American Nightmare

MSFChaser

Many Universities have cut fund for their PhD programs which are a large part of their research segment.

Whether anyone could secure scholarship for MS programs are not sure at all.

I have to say the Timing for us to go abroad is too bad, however, we could not go back.

Too bad.

Holy......crap.

sigh

lianghao

Crisis happened every 10 years due to the similar reason: 1987 Black Monday and failure of LOR; 1997-1998 Asian crisis and failure of LTCM; 2007-2008 subprime. Enonomists believe their model can achieve dynamic hedging and cancel off risks. But they ignore the liquidity issue under extreme market circumstances. Math doesn't drive financial market, people do. There are always uncertainty related to unpredictable human behaviours which you cannot get rid of using math models. Unfortunately, people still haven't learned from it.

Today I watched a famous documentary called "Trillion Dollar Bet" on class. Strongly recommend it to all.

MSFChaser

math does not drive market, people do.

insightful.

while people have to find a convincing argument to make others belive, that is math model.

Like Someone is behind telecommunication industry restructuring. There has to be a theory, or people would not be convinced.