tag:blogger.com,1999:blog-3046071861494986299.post4250081614753193953..comments2017-07-31T01:20:41.657-07:00Comments on Magic, maths and money: The Fundamental Theory of Asset PricingTim Johnsonnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3046071861494986299.post-44960183494499903802015-01-29T00:35:39.635-08:002015-01-29T00:35:39.635-08:00I never could understand fundamental theorem until...I never could understand fundamental theorem until I read it on this post. Though my professor <a href="http://www.alokeghosh.com/" rel="nofollow">Aloke Ghosh</a> tried to explain me couple of times but things didnâ€™t went into my head until I read your blog post. You explain things quite nicely. williambrownhttps://www.blogger.com/profile/07568619437482735241noreply@blogger.comtag:blogger.com,1999:blog-3046071861494986299.post-20554754733991325602014-05-31T08:29:51.173-07:002014-05-31T08:29:51.173-07:00"If mathematics is a human construction, it d... "If mathematics is a human construction, it does not hold true." Which theorems true in classical mathematics but not true in intuitionist mathematics do you base this claim on?Nicholas Shackelhttps://www.blogger.com/profile/08546205932263959250noreply@blogger.comtag:blogger.com,1999:blog-3046071861494986299.post-77297954051220802122014-01-25T04:46:37.589-08:002014-01-25T04:46:37.589-08:00I believe that Samuelson -- not Mandelbrot -- posi...I believe that Samuelson -- not Mandelbrot -- posited first that prices follow martingale processes in "Proof that properly anticipated prices fluctuate randomly" in early 1965. The proof is essentially the martingale property of conditional expectation.rara avishttps://www.blogger.com/profile/14989319133176770026noreply@blogger.comtag:blogger.com,1999:blog-3046071861494986299.post-51124485179723862402013-09-02T04:44:47.705-07:002013-09-02T04:44:47.705-07:00Tim, I don't get this. My reading of the funda...Tim, I don't get this. My reading of the fundamental theorem is that it is about current expectations only. I get that if events unfold consistent with one's expectations then the EMH is true. But, conversely, you seem to suggest that if the EMH sometimes fails then the fundamental theorem is false. But it seems to me that markets sometimes give us a shock, in which case the fundamental theorem implies very little. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3046071861494986299.post-14919770647096323072013-03-07T18:42:58.151-08:002013-03-07T18:42:58.151-08:00If mathematics is a human construction, it does no...If mathematics is a human construction, it does not hold true.<br /><br />Egad!<br /><br />you have a tough blog Tim<br />Danhttps://www.blogger.com/profile/15136541075745913165noreply@blogger.com