Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.

QuoteOriginally posted by: traderjoe1976Nope, in academia people get fired most often for fixing data and fixing results to match their models and this is not supported when other people test their models. Plagiarism doesn't really occur because the papers are run through a site like turnitin.com which will check for matching phrases in all the published material including online journals. This is done even before the article is sent for review.Academics don't get fired, they get suspended Quote The investigators found "several dozens of publications" in which fictitious data has been used. Fourteen of the 21 Ph.D. theses Stapel supervised are also tainted, the committee concluded.

QuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.come on, you are not seriously comparing the accademic difficulty of Finance and Maths?

QuoteOriginally posted by: traderjoe1976Nope, in academia people get fired most often for fixing data and fixing results to match their models and this is not supported when other people test their models. Plagiarism doesn't really occur because the papers are run through a site like turnitin.com which will check for matching phrases in all the published material including online journals. This is done even before the article is sent for review.Fixing data != making an honest mistake.Plenty of papers are ideas in progress, which later turn out to be wrong.

QuoteOriginally posted by: gianluca19QuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.come on, you are not seriously comparing the accademic difficulty of Finance and Maths?Uhm, we are talking about two different things here but I agree with TJ that is a mistake to think that a maths dude is automatically a finance expert just because hard core maths >> finance in terms of logic brainpower needed. I like to think that one's thought is shaped by what they have studied and how they have been trained over the years, and probably the brains of maths and finance people are quite different in this respect.Also, I don't know anything, but I suspect that coming up with something original in finance might be harder than in science due to the different availability of non-trivial and yet non gigantic problems. I am a dumbass and still managed to get a decent scientific paper in a decent scientific journal because I nailed down and solved a very specific problem, not sure I could have come up with something equivalently original in finance.

QuoteOriginally posted by: DevonFangsUhm, we are talking about two different things here but I agree with TJ that is a mistake to think that a maths dude is automatically a finance expert just because hard core maths >> finance in terms of logic brainpower needed. I like to think that one's thought is shaped by what they have studied and how they have been trained over the years, and probably the brains of maths and finance people are quite different in this respect.Also, I don't know anything, but I suspect that coming up with something original in finance might be harder than in science due to the different availability of non-trivial and yet non gigantic problems. I am a dumbass and still managed to get a decent scientific paper in a decent scientific journal because I nailed down and solved a very specific problem, not sure I could have come up with something equivalently original in finance.True. Maths is just a tool and to solve a problem in finance you must both know the subject and master the relevant tools. Without stochastic calculus you won't understand anything from quantitative finance but there are top class specialists in stochastic analysis who just spoil the financial research - because of their distorted picture of finance. You want names? You can find them in editorial boards of Mathematical Finance and Finance&Stochastics for instance.That's why this double affiliation is so important - it shows you understand both sides of te problem: maths and finance.

Financial research is as much about politics as about science. The research on option pricing done by Black and Scholes in the 70s was instrumental in relaxing the financial regulatory regime by Nixon.

QuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.Don't lump physics, maths and "finance" (whatever this means) together. "Expert in Physics or Maths" sounds like a joke coming from anyone.

QuoteOriginally posted by: UltravioletQuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.Don't lump physics, maths and "finance" (whatever this means) together. "Expert in Physics or Maths" sounds like a joke coming from anyone.that's the problem with physicists and mathematicians, they think they're special

QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: UltravioletQuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.Don't lump physics, maths and "finance" (whatever this means) together. "Expert in Physics or Maths" sounds like a joke coming from anyone.that's the problem with physicists and mathematicians, they think they're specialYeah... say hello to the Einstein of Finance from me.

Finance is at best applied mathematics. And the mathematics is kind of neat. The problem is with the stuff the mathematics is applied to - it's much less scientific than physics, or even chemistry.

QuoteOriginally posted by: katastrofaFinance is at best applied mathematics. And the mathematics is kind of neat. The problem is with the stuff the mathematics is applied to - it's much less scientific than physics, or even chemistry.I think it's financial maths. I honestly don't know what is "finance" - financial economics? (Katastrofa, to co wykladaja w PL jako np. "Zarzadzanie i finanse" i cale multum kierunkow.) Or maybe everything from taxes to the BS model?

QuoteOriginally posted by: UltravioletQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: UltravioletQuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.Don't lump physics, maths and "finance" (whatever this means) together. "Expert in Physics or Maths" sounds like a joke coming from anyone.that's the problem with physicists and mathematicians, they think they're specialYeah... say hello to the Einstein of Finance from me.Say hello to Warren Buffet of Maths from me, no? This is all a big nonsense.

QuoteOriginally posted by: gianluca19QuoteOriginally posted by: traderjoe1976Yeah right. If a Finance PhD claims to be an expert in Physics or Math, everyone would think that it was some kind of joke. But when all these Math PhDs claim to be experts in Finance, that we are expected to take seriously.come on, you are not seriously comparing the accademic difficulty of Finance and Maths?There is a good reason why Finance professors are paid FIVE TIMES more than Math professors in the USA.

That's cool, but could you finally explain me what actually is "Finance"?