
"Points to the over-reliance on financial models and quantitativetechniques as what ultimately brought down the financial markets. Sure, many of us feel that we have heard enough on this topic-do wereally need another book about the financial mess and how it allbegan? Yes, we do. . . Triana's impressive knowledge and experienceallows him to dig deeper and go beyond the mere musings of hispublished peers.„
--Risk Management Magazine
“Readers of this book may make quite a lot of noise. . . Somewill cheer out loud; others will yelp as cherished beliefs are torninto. At times, the book is deliberately incendiary. Triana istrying to stimulate debate. . . On the whole, this is a goodread.„
--The Financial Times, July 23rd 2009
“... calls for a return to „good old fashioned commonsensedecision making“.„
--Daily Express, June 4th 2009
“This book explains how it is that theoretical finance can faildramatically in the real world.„
--Finanace & Management Faculty, June 2009
“The book is fizzing with ideas„
--The Economist, June 29th 2009
“ Triana's book will ruffle a lot of feathers, but it alsowill make many readers think hard.„
--BizEd
“A deeply unsettling insider account of how bogus mathematicsovertook finance and was a key contributor to the financialcollapse of 2008-2009 . . . With deep insight, Triana deconstructsthe „pillars“ of mathematical finance . . . Like Nassim Taleb, celebrated author of The Black Swan (2007), Triana iscalling for major surgical reform of such business schools'curricula. An important addition to our deeper understanding of howfinance must be reformed.„
--Hazel Henderson, Ethical Markets
“Should the Nobel Prize for economics be abolished? That is oneof the suggestions in Pablo Triana's provocative book „LecturingBirds on Flying: Can Mathematical Theories Destroy the Markets?“ .. . As Nassim Nicholas Taleb writes in his witty introduction tothe book, giving someone the wrong map is worse than giving them nomap at all. . . a good read. Some may find the elaborate prosecloser to Cervantes than to, say, Nobel Prize winner Robert Merton-- annoying. But perhaps Cervantes is the right writer to emulatewhen tilting at windmills. „
--LA Times
“The highlight of Triana's book is his valuable insights intothe problems with mathematical economic models, which make hisargument quite forceful."
--Shanghaidaily. com
Lecturing Birds on Flying
Can Mathematical Theories Destroy the Financial Markets?
von Pablo Triana, Vorwort von Nassim Nicholas Taleb„Finally, a book taking a critical look at quantitative financemodels, illuminating both their flawed fantasy assumptions as wellas the uncritical use of such models on Wall Street, in many cases, leading to billion dollar losses. Pablo Triana knows both thefinancial industry and the academic community from the inside. Amust-read for anyone interested in finance.“
--Dr. Espen Gaarder Haug, trader, thinker, and authorof Derivatives Models on Models
„A thoroughly readable explanation of the problems that havebeset the models and quantitative techniques that have underpinnedso much of finance in recent years. If only the bankers had heededthis message a few years before, we might not be in such a big messtoday.“
--Gillian Tett, Assistant Editor of the FinancialTimes, overseeing global financial markets coverage, and authorof Fool's Gold
„Pablo Triana dismembers quantitative finance, in theory and inpractice, with expertise, anger, and an excellent eye for theilluminating anecdote. By the time he has finished marshalling hisevidence, his call to replace complex equations with something morelike common sense sounds like, well, common sense.“
--Edward Hadas, Assistant Editor atBreakingviews. com; and author of Human Goods, Economic Evils: A Moral Approach to the Dismal Science
„Pablo Triana is an entertaining and engaging writer, even onthe dry subject of finance theory. His debunking of conventionalwisdom is a treat.“
--Pauline Skypala, Editor, FTfm, FinancialTimes
"Triana's book is an unrelenting fusillade of detailed andirrefutable arguments against financial theorems and those whoteach them. It should, by rights, spark a revolution in bothinvestment banks and business schools. But, at the very least, itis required reading for anyone who would regulate the financeindustry."
--Felix Salmon, Finance Blogger, Reuters