Formula That Blew Up Wall Street

The article explains in the best layman terms possible the intricate mathematical models used by Wall Street to price the mortgage-backed securities and derivatives. I don’t pretend that I understand every word in the article, but it does give me a more enlightening glimpse into the almost inscrutable world of 'quant' (to me anyway) and what must be one of the most crucial underlying factors that sent the financial house of dominos crumbling.

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