All entries for Thursday 20 April 2006

April 20, 2006

A new definition of hell

Hell has always been a key part of Christian theology and even the Ancient Greeks with their philandering Gods and their pagan rituals had a notion of hell….examples include the punishment of Siphysus who had to keep rolling a boulder up a hill and could never reach the top.
Hell is usually associated with the afterlife as a punishment for a life of sin and licentiousness. Firestone and brimstone.

But it would appear that Belinda Carlisle was only half right. Heaven may be a place on earth but so is hell. It exists in the Cambridge economics computer lab where I will be 24 hours a day for the next two weeks until my econometrics project is due in. I will take momentary breaks to blog just to keep some form of contact with the outside world and prevent Stockholm syndrome, where I start to enjoy myself, setting in.

For anyone who cares my project is on assessing the extent to which low capitalism firms have higher sample mean returns than would be predicted by a Capital Asset Pricing Model

If you think….ooooh finance…sounds like fun let me dispel this delusion. Finance or at least the form taught at university is total applied maths and statistics. They don't teach you any of the useful things like how to perform insider trading without getting caught, or how to pick decent shares (most of the theory relates to a silly belief that markets are completely efficient and thus any attempt to beat the market is doomed to failure), or how to dress the part in the city (pinstripes, braces, hornrimmed glasses, slicked back hair and power shoulder pads), or even how to set up offshore accounts and launder money. Hell they don't even supply for cocaine for that authentic city trader experience. There aren't even any girls around to sexually harass in the great tradition of the City (of course this does mean Im not going to get sued 1 million in a compensation suit which I guess is a good thing).

And forget greed is good. The university researchers who make up all this nonsense get paid sweet FA while the barrow boys who think Beta is what you do to your wife, and assets are found on the upper region of a girls body and a random walk is what you do when drunk earn millions a year


Back to the grindstone I go

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