On the heels of a recent related link, comes this talk, in which Andrew Lo deliberates on what physics envy may have done to the dismal science (H/T Farnam Street). From the video:
In physics it takes 3 laws to explain 99% of the data. In finance it takes more than 99 laws to explain about 3%.Interesting video, especially for those with some knowledge of both fields. Also check out the link (from the Farnam Street blog) to a paper (PDF) by the same title.