The Future of Finance

Journal of Investment Management (JOIM), Second Quarter 2010

Posted: 11 Jul 2010

Date Written: July 9, 2010


The future of finance is bright, if for no other reason, because our financial system failed. This failure raises the level of urgency for developing more realistic models, more effective regulation, and more responsible financial institutions, and it permits us to start with a clean slate.

Keywords: Central clearing corporation, credit default swaps, systemic failure, moral hazard, claw-back provision, operating leverage, Brownian motion, partial differential equation, ordinary differential equation, first passage probability, barrier options, Mahalanobis distance, network theory

JEL Classification: G00

Suggested Citation

Kritzman, Mark, The Future of Finance (July 9, 2010). Journal of Investment Management (JOIM), Second Quarter 2010, Available at SSRN:

Mark Kritzman (Contact Author)

Windham Capital Management ( email )

800 Boylston Street
30th Floor
Boston, MA 02199
United States
6174193900 (Phone)
6172365034 (Fax)

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