The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident.
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Chapter Five, Accidental Capitalists, p. 116Michael Lewis
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Looking into it a bit, Jamie found that the model used by Wall Street to price LEAPs, the Black-Scholes option pricing model, made some strange assumptions.
Michael Lewis
I wanted to explore the new Wall Street. When I was writing SCARFACE in Miami, there was so much coke around and so many lunatics, and I met so many kids from Wall Street who were millionaires. I thought older men were rich, but here were these kids, 25 or 28 or 35 years old, with millions of dollars playing the markets all over the world around the clock. My father would have been shocked by the new electronics that allowed it…. Dad was a stockbroker on Wall Street when there was more integrity and class.
Oliver Stone
The quantum theory, as it is now constituted, presents us with a very great challenge, if we are at all interested in such a venture, for in quantum physics there is no consistent notion at all of what the reality may be that underlies the universal constitution and structure of matter. Thus, if we try to use the prevailing world view based on the notions of particles, we discover that the 'particles' (such as electrons) can also manifest as waves, that they move discontinuously, that there are no laws at all that apply in detail to the actual movements of individual particles and that only statistical predictions can be made about large aggregates of such particles. If on the other hand we apply the world view in which the world is regarded as a continuous field, we find that this field must also be discontinuous, as well as particle-like, and that it is as undermined in its actual behaviour as is required in the particle view of relation as a whole.
David Bohm
All things are changing; and thou thyself art in continuous mutation and in a manner in continuous destruction and the whole universe to.
Marcus Aurelius
For me it is not dubious that our thinking goes on for the most part without use of signs (words) and beyond that to a considerable degree unconsciously. For how, otherwise, should it happen that sometimes we "wonder" quite spontaneously about some experience? This "wondering" seems to occur when an experience comes into conflict with a world of concepts which is already sufficiently fixed in us. Whenever such a conflict is experienced hard and intensively it reacts back upon our thought world in a decisive way. The development of this thought world is in a certain sense a continuous flight from "wonder."
Albert Einstein
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