While Robert Solow suggested not to think of Economics as Science [1], Andrew Lo warned us about the dangers of using Physics to build economic systems [2]. Physics has been a late entrant to the world of Finance.
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Modern Finance
At a farewell party last night, we found that five of us had the same birthday, which was quite a coincidence as the gathering was small. There, a friend from Lebanon who is a senior techie at a Fortune 500 infrastructure company asked me to explain how such recurring coincidences take place often. There was no traditional answer to his question. I told him that just like clustering of market prices was a cyclical reality, and such coincidences happen again and again with cyclical precision.