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Tuesday, July 6, 2010

Revenge of the Nerds

Some time back: Wall Street lucrative compensation lures hordes of top engineering and math students (aka Nerds)

Not too long ago: Nerds create programs and products that help propel Wall Street profits to gargantuan levels

Somewhat recently: Fooled by their own contrived complexity, countless nerds and non-nerds alike propel asset markets to new heights

Seems like yesterday: Realizing that the models grossly underestimated reality, investors rush for the exits and markets crumble

The present day: Blamed for the financial crisis, Nerds are rounded up and made to walk the plank. However non-Nerds get lambasted for lack of sufficient oversight and are thrown overboard instead. Nerds are elevated to the top spot

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