The Physicists Killed Wall Street

From Discover Magazine:

A couple of weeks ago there was an interesting opinion piece in the NYTimes about how physicists are the harbingers of doom, and are responsible for the end times. Or, more specifically, it’s because of physicists that the financial markets are in tatters all around us.

The basic idea is that greedy physicists have gone to Wall Street, cooked up all sorts of arcane derivative products, and subsequently unleashed these weapons of mass destruction on the financial markets. This sentiment is best epitomized by a statement from none other than Warren Buffett (perhaps the world’s most successful investor, and certainly the world’s richest): “beware of geeks bearing formulas”

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