Does world finance rest on faulty foundations? Models developed in academia in the 1950s and 1960s have come to dominate the way that bankers and investors do their work, and many blame them for the crash of 2008. But were the models really to blame?
In this Masters in Business interview, Bloomberg’s John Authers and Christine Harper discuss the classic book that introduced the academic ideas that took Wall Street by storm: “Capital Ideas” by the late Peter Bernstein. It was the first selection in Bloomberg’s new experimental book club, Authers’ Notes, and it produced a torrent of feedback from readers who spent a month reading along with us.
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