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Saving Wall Street

Joel on Software: “Here is why I like duct tape programmers. Sometimes, you’re on a team, and you’re busy banging out the code, and somebody comes up to your desk, coffee mug in hand, and starts rattling on about how if you use multi-threaded COM apartments, your app will be 34% sparklier, and it’s not even that hard, because he’s written a bunch of templates, and all you have to do is multiply-inherit from 17 of his templates, each taking an average of 4 arguments, and you barely even have to write the body of the function. It’s just a gigantic list of multiple-inheritance from different classes and hey, presto, multi-apartment threaded COM. And your eyes are swimming, and you have no friggin’ idea what this frigtard is talking about, but he just won’t go away, and even if he does go away, he’s just going back into his office to write more of his clever classes constructed entirely from multiple inheritance from templates, without a single implementation body at all, and it’s going to crash like crazy andyou’re going to get paged at night to come in and try to figure it out because he’ll be at some goddamn “Design Patterns” meetup.”

Peter Bernstein’s last news letter podcast: Historical view of the growth of Finance in last 25 years – compelling.

This is the Green Room (TGR):  Measuring aggregate risk in CDS market is hard comment . Link to ECB CDS and CP Risk Aug 2009. CDS markets: Half dozen paragraph summary of CDS market . Soros thinks CDS did it says TGR. Negative Swaps spreads summary. Negative Duration. Deconstructing the Gaussian Copula was the reason to start reading TGR. VAR at Risk.

Saving Wall Street’s soul one dork at a time Newsweek: remedial quant classes might save us next time.


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