A Complex System View on the Financial and Economic Crisis
A Complex System View on the Financial and Economic Crisis
A Complex System View on the Financial and Economic Crisis
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Estimated assets <strong>and</strong> market positi<strong>on</strong>s in<br />
<strong>the</strong> hedge-fund industry from 1990 to 2008<br />
Securitizati<strong>on</strong> of n<strong>on</strong>-financial assets<br />
(commodities, real-estate, credit)<br />
Source: A. Huesler <strong>and</strong> D. Sornette<br />
Lo, A. W. Hedge funds, systemic risk, <strong>and</strong> <strong>the</strong> financial crisis of 2007- 2008: Written testim<strong>on</strong>y for <strong>the</strong> house oversight<br />
committee hearing <strong>on</strong> hedge funds. Social Science Research Network Working Paper Series (November 2008). 35
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