Dr. Brooks of the University of Alabama gave a wonderful presentation at the CFA Society of Alabama lunch on financial derivatives and ethics (not often heard together) in Birmingham, Alabama. I learned two new words that I hope to research, understand, and incorporate (of course probably the subject of additional more detailed blog posts):
performativity and counterperformativity—“Practical use of an aspect of economics makes economic processes more like their depiction by economics.” and the opposite “Practical use of an aspect of economics makes economic processes less like their depiction by economics.” http://press.princeton.edu/chapters/s8442.html, p. 17
risk-take instead of mistake—risk-take I define as “the rational pursuit of return after careful consideration of the risks involved “ versus a mistake, which I do not think I need to define.
Unfortunately I now realize that I did myself a disservice by not figuring out how to take Dr. Brooks derivatives course while I was pursuing accounting at the University of Alabama. His presentation validates my opinion on the quality of education I received at U of A, and I’m proud to say “My Home’s in Alabama.”