The book begins with a brief note that highlights the difference between “expectation pricing” and “arbitrage pricing”. It gives an example of a bookmaker, someone who takes bets on horses. The bookmaker can always stay in the business by setting up odds based on the money at stake, rather than based on actual probabilities. If the book maker does a statistical analysis of horse performances,track conditions, historical data, etc.. and then sets the odds, there is always a possibility of a huge loss and getting wiped out.

In the recent years there have been a lot of books written about quants on Wall Street. Some of the books have been a journalistic account of people, events, technologies that have revolutionized Wall Street. Some of the books are more technical that look like applied math/stats books. This book is a welcome addition to the existing literature. The book has been written by a Physics PhD who traces the rise of Physicists on Wall Street.

Not what we have but what we enjoy, constitutes our abundance. Epicurus

Geeta Ramanujam (Kathalaya) at TEDx, Bangalore [youtube https://www.youtube.com/watch?v=P2ccK66KKe8?rel=0]

For some, coffee is a big stimulant and for some the ambience that goes with it, the coffee shop. Here is a site that provides the right amount of ambient noise of a coffee shop . Link : Coffitivity