Download The Wrong Answer Faster: The Inside Story of Making the Machine that Trades Trillions AudioBook Free
The fascinating account behind the machines that trade trillions of us dollars every day... In 1968, Michael Goodkin is about to graduate from Columbia School. While his classmates interview for careers, he daydreams of seeing the earth as a man of unbiased means. Noticing that we now have no computers on Wall Street and sketching on his experiences as a failed teenage trader and successful gambler, he comes with an epiphany: Since no one is aware the right price for anything, the only path to beat the market is to make a computer that arises with the wrong answer faster than the experts. And thus commences a journey that calls for this provincial Midwesterner from practically broke to opulent Park Avenue. The Wrong Answer Faster is the story of unintended consequences: how a technique originally intended to decrease market risk spiraled into a multi-trillion money game with unparalleled risks. Having founded and sold a firm that changed the earth, Goodkin left NY to travel and play backgammon and then return to found another groundbreaking firm, Numerix, a software company that substituted computational physics for econometrics to raised take care of derivative risk. This is the account of the computerization of Wall Street by the person at the helm. Filled with keen insights, based almost totally on poker, backgammon, and game theory, Goodkin's unique information to the marketplaces is the fact that everyone has the wrong answers. The solution is never to try to conquer the market but to come up with the wrong answers faster. The epic story of the untold account how one man with a good idea decided not to play the market but to revolutionize the financial world for generations to come by creating the most groundbreaking tool for market players since the ticker tape.
