The principles of Renewal theory are seen in various stochastic processes such as Countable State Markov chains, Continuous Markov processes, Semi-Markov processes, Regenerative processes etc. In one sense, spotting a Renewal process in a complicated stochastic process makes life easy as one can use the concepts from renewal theory to talk about the ensemble average and limiting time averages of the process. This book belongs to the “classics” genre of Renewal theory.

Via Ghost Exchange Trailer Ghost Exchange probes the current state of US capital markets, the impact of high frequency and algorithmic trading, the lack of, or ineffective regulatory oversight and the risks that are now inherent in our markets by going right to the source –Wall Street’s leading insiders – who shine a light on startling signs that the US stock market has built so much speed and complexity into the current system that it is impossible to regulate.

The authors are math professors at Princeton. This book is a result of a 7 year effort. It distills all their math teaching experiences in to 150 pages. The book is targeted towards general audience even though most of anecdotes are from a classroom environment. The authors use the 5 classic Greek elements that were thought to be the foundation of everything – Earth, Fire, Air, Water and Quintessential – to lay out the principles of effective thinking.

The book is about the conversations the author Will Schwalbe has with his mother while she underwent pancreatic cancer treatment. Mary Anne, the author’s mother is diagnosed with pancreatic cancer in 2007. For a span of two years she undergoes treatment at a cancer hospital in NY that included long hours of chemotherapy sessions. The author often used to accompany her mother for all her treatments. Most of the doctors give their verdict that the cancer has spread and the various treatments can only delay her eventual death.

[youtube https://www.youtube.com/watch?v=fEWj93XjON0?rel=0]