Download The Number That Killed Us: A Story of Modern Banking, Flawed Mathematics, and a Big Financial Crisis AudioBook Free
A critical go through the risk way of measuring tool that has frequently injured the financial world The Amount That Killed Us finally instructs the "greatest history never told": what sort of inexplicable financial risk way of measuring model has ruled the entire world for the past two decades and exactly how it has frequently, and severely, brought on market, economical, and interpersonal turmoil. This model was the key factor behind the unleashing of the cataclysmic credit problems that erupted in 2007 and which the effects remain being felt around the world. The Amount That Killed Us is the first and only book to completely explain this hitherto-uncovered occurrence, making it the key guide for truly understanding why the malaise occurred. The very number finance institutions and regulators use to assess risk (Vale at Risk/VaR) has masked it, allowing companies to leverage up their speculative bets to unimaginable levels. VaR sanctioned and allowed the monstrously geared harmful punts that sank Wall structure Street, and the entire world, during the latest crisis. We can confidently say that VaR was at fault. In The Amount That Killed Us, derivatives expert Pablo Triana takes you through the development of VaR and shows how its unavoidable structural flaws allowed banks to defend myself against even greater dangers. The complete role of VaR in igniting the latest problems is thoroughly covered, including in-depth evaluation of how and just why regulators, by falling in love with the tool, condemned us to chaos. Uncritically embraced worldwide for way too long, VaR is, in the face of such destruction, beginning to be examined as problematic, and in this reserve Triana (long an wide open critic of the tool's role in motivating mayhem) uncovers exactly why it creates our financial world a far more dangerous place. If we look after our safety, we should let VaR go.
- Contains controversial evaluation of the hotly debated risk metric Value at Risk (VaR) and its own central role in the credit problems
- Denounces the role of regulators and academics in forcing the presence of the inevitably malfunctioning in financeland
- Describes how bonus-hungry dealers can use VaR as an alibi to defend myself against the most reckless of bets
- Reveals the way the most recent financial crisis will simply duplicate itself if the problems behind VaR aren't unmasked
- Pablo Triana is also the author of Lecturing Wild birds on Soaring
