Why Financial Engineering Doesn't Work
http://atimes.com/atimes/Global_Economy/IK08Dj02.h...
The last quarter century has seen the explosion of a profession, financial engineering, that has provided innumerable lucrative opportunities for otherwise indigent mathematicians... Nevertheless the turbulence in the bond markets in the last couple of months, at a time when the world economy's prospects seemed set fair, have exposed a guilty secret of the financial engineering profession: its methods don't work.