Starting Physics PhD Student - Finance is intriguing - basic question

[pingu]

... all o whom have PhDs from top schools.

this is hilarious!! Having a PhD from a highly ranked school (albeit a subjective rank organized by some magazine that needed "something" to survive) means couple of things: 1) They were able to be accepted into such a school somehow and 2) They were smart enough to graduate with a PhD.

As far as I'm concerned they don't have a crystal ball to predict the future.

 

[JesseLevermore]

You make a lot of points which may or may not be valid.
However, I am a naive person.
On one hand, I see hard data and detailed analysis presented by senior economists at IMF / World Bank / Goldman Sachs / PWC, all o whom have PhDs from top schools.
On the other hand, I see some points by an anonymous person on the Internet who may or may not have a PhD in Economics.
I am inclined to believe the economists at institutions like IMF / Worl Bank / Goldman Sachs / PWC.

Quite honestly statements like this lead me to believe that elite universities have become the 21st century version of the pious catholic church. You're going to naively agree with people because their qualifications make them worth believing?

Because that's never been dangerous in the countless times its happened in human history, right? You my friend may claim atheism or some form of religion but don't be fooled; in Harvard you trust. But I am definitely not joining you.

Also you do realize many members of this forum could potentially have credentials or job titles in any of those places you listed? Naivety makes me nauseous, I definitely have to go read now.

 

[tfors]

economics especially now is a science in transition. many of the now prominent models do hardly agree with empirical results.

recall the queen of england's incredulous remark how come no financial institutions exist in the model

 

[themarketprofessor]

economics especially now is a science in transition. many of the now prominent models do hardly agree with empirical results.

recall the queen of england's incredulous remark how come no financial institutions exist in the model

Get real, tfors!!!

Economics ain't science, neither is finance. Economics and financial business are all based on human desire, behaviour, utility, greed, happiness, etc... Can you assign a number or a model to my desire to shit in a toilet made of gold?

 

[tfors]

it's a so called social science

 

[themarketprofessor]

it's a so called social science

Then try to model my desire for a golden path tub, my greed for money, my dishonesty at workplace, etc..., can you?

 

[tfors]

Then try to model my desire for a golden path tub, my greed for money, my dishonesty at workplace, etc..., can you?

I cannot, but that does not mean much

 

[themarketprofessor]

n

I cannot, but that does not mean much

Of course you cannot! People like myself in the market make decisions, prices, etc...based on our experience, intuition, gutt-feeling, and most of all intellectual judgements. PhDs mean almost nothing to us, physics is least of all considered.

 

[Totally]

If we are gonna talk on this thread, can we at least bring the topic back to my OP? This chatter and arguing for the last 10 posts really doesn't address any of my questions or benefit me in any way...

Thanks.

 

[themarketprofessor]

it's a so called social science

A field of study is either a Science or not a Science! There is no such a thing called social science - what is that? Is it due to lack of English vocabularies? Or is it a heterosexual science?! Or even a heterofinancecomic science!

 

[pingu]

it's a so called social science

<offtopic> The same is said about religious studies...