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The m-a-f-f-i-a


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The m-a-f-f-i-a

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Mathematicians Against Fraudulent Financial and Investment Advice


Mathematicians Against Fraudulent Financial and Investment Advice (MAFFIA)




Quoting 
Overview

This site was created out of concern with the proliferation of quasi-mathematical investment claims and schemes in the past few years -- various "technical analysis" trading schemes, buy/sell recommendations, etc. -- which appear to be based on sophisticated mathematics, but which, upon more careful and rigorous analysis, are at best questionable. We encourage the reader to search the Internet for terms such as "stochastic oscillators," "Fibonacci ratios," "cycles," "Elliot wave," "Golden ratio," "Hindenberg Omen," "parabolic SAR," "pivot point," "momentum," and others in the context of finance. Although such terms clearly evoke precise mathematical concepts, in fact, in almost all cases, their usage is at best scientifically unsound and often is pure mumbo-jumbo.
Historically scientists have led the way in exposing those who utilize pseudoscience to extract a commercial benefit. Even in the 18th century, physicists exposed the nonsense of astrologers. Yet mathematicians in the 21st century have remained disappointingly silent with the regards to those in the investment community who, knowingly or not, misuse mathematical techniques such as probability theory, statistics and stochastic calculus. Our silence is consent, making us accomplices in these abuses.

We thus seek to educate the public, at least the mathematically-trained public, to better distinguish between sound techniques and the unfortunately much larger body of questionable methods that sadly pervade the financial community and financial news. If you agree with our concerns, or have related information of interest, please let us know. We plan to further develop this theme and collect names of interested parties. If you are interested, contact us at


Quoting 
This website is operated by
David H. Bailey, recently retired from the Lawrence Berkeley National Lab; also affiliated with the University of California, Davis: DHB website
Jonathan M. Borwein, Laureate Professor and Director, Priority Research Centre for Computer-Assisted Research Mathematics and its Applications (CARMA), University of Newcastle, Newcastle, Australia: JMB website
Marcos Lopez de Prado, Head of Quantitative Trading and Research, Hess Energy Trading Company: MLDP website
Qiji Jim Zhu, Professor of Mathematics, Western Michigan University: QJZ website


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