…is not that they go up and down. That’s what prices do in a market. ‘t was ever thus, since Ugg and Ogg from neighbouring caves started keeping chickens and swapping them for fish.
The real problem, to my mind, is that the financial industry drains the economy of talent. We have mathematicians, physicists and other scientists being paid tuliploads of money in ‘the city’ to make predictions on future movements of prices in a system that they should know is chaotic and unpredictable. All the ‘quants’, ‘technical analysts’ and so on are really playing a sort of astrology game with some numbers thrown in to make it look all ‘sciencey’.
Perhaps if there were less attention paid to the financial markets by ‘the meedja’ and in fact all of us, more attention was paid to scientific research, innovation and invention, and more value were to be placed on pure science AND applied science, then talented science graduates would be more tempted to work in the fields that will give us something valuable for the future instead of pissing away their lives chasing a big bonus and then finding themselves fired by SMS after a few years, wondering how to pay off their gazillion pound mortgage and fuel up the Ferrari.
Thoughts?
The real problem, to my mind, is that the financial industry drains the economy of talent. We have mathematicians, physicists and other scientists being paid tuliploads of money in ‘the city’ to make predictions on future movements of prices in a system that they should know is chaotic and unpredictable. All the ‘quants’, ‘technical analysts’ and so on are really playing a sort of astrology game with some numbers thrown in to make it look all ‘sciencey’.
Perhaps if there were less attention paid to the financial markets by ‘the meedja’ and in fact all of us, more attention was paid to scientific research, innovation and invention, and more value were to be placed on pure science AND applied science, then talented science graduates would be more tempted to work in the fields that will give us something valuable for the future instead of pissing away their lives chasing a big bonus and then finding themselves fired by SMS after a few years, wondering how to pay off their gazillion pound mortgage and fuel up the Ferrari.
Thoughts?
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