Chronique des Droits de l'Homme

The Black-Scholes equation was the mathematical justification for the trading that plunged the world's banks into catastrophe. It was the holy grail of investors. The Black-Scholes equation, brainchild of economists Fischer Black and Myron Scholes, provided a rational way to price a financial contract when it still had time to run. It was like buying or selling a bet on a horse, halfway through the race. It opened up a new world of ever more complex investments, blossoming into a gigantic global industry. But when the sub-prime mortgage market turned sour, the darling of the financial markets became the Black Hole equation, sucking money out of the universe in an unending stream...

>>>> Mêmes mathématiques, les couillonnades restent des couillonnades