“The Wall Street Math Hustle”

Run immediately over to Institutional Investor and read this excellent piece on all of the fake number crunching investment firms use into making decisions and buying products that are not in your best interest.

The yes blunt but 100% accurate conclusion:

These strategies carry the stamp of scientific certitude, but Wall Street’s researchers, like all scientists, have an ethical responsibility to communicate the limitations of these supposedly systematically proven models to an aroused but insufficiently skeptical, public.

Yet much of their world is bullshit. And yes, maybe we’re a bit too blunt. But we don’t want them to sell you more of what isn’t working.

Read it and don’t be the lower-case fool.

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