As disruptive as the recent financial crisis has been, the important lessons to be learned from the spectacular failure of financial technologies gone awry may actually pave the way for some of the most significant achievements of the 21st century. In this talk, Prof. Lo will provide a brief overview of the key role that financial innovation played in the crisis, and how a deeper appreciation of human nature, incentives, and the mathematics of financial engineering may allow us to focus the enormous power of global financial markets on one of society's most pressing challenges: curing cancer.
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