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The 3 Simple Rules of Investing by George Peacock, Carol Fabbri, Kwok L. Tsui, Michael Edesess

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DEADLY TEMPTATION #7

Use Modern Scientific Financial Theory

This is often the deadliest of temptations—and one of the most brazen. Science encompasses an array of serious, well-developed fields such as physics, chemistry, and biology. Modern finance bears no resemblance to any of them. To apply the term “science” to the field of modern finance is to taint all sciences. Both science and engineering use mathematics in practical and sound ways. The mathematics used in these fields is both much more sophisticated and more practical than the mathematics used in the investment field.

Let’s explore some of the ways investment products and services sold by Wall Street and the financial industry use—or pretend to use—mathematics and “modern scientific ...

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