The Physics of Financial Markets

Do the hard laws of thermodynamics apply to your money? What can avalanches, boiling water, and quantum mechanics teach us about markets? We explore where physics meets finance—and what it reveals about volatility, crashes and portfolio decay. And in today’s Dumb Question of the Week: What should you study if you want to work in finance? --- Today’s podcast is sponsored by Freetrade, the commission-free investing platform. New Freetrade offers: 2% cashback when you transfer £10,000+ in pensions (ends 31 Dec 2025) 1% cashback for new ISA customers transferring £10,000+ (ends 31 Dec 2025) Plus, get a free share worth £10 - £100 when you sign up via a referral link! Freetrade makes investing simple and affordable, with award-winning service and transparent pricing. Learn more at freetrade.io/pensioncraft Capital at risk. ISA & SIPP eligibility, tax rules, and T&Cs apply. Cashback capped at £1,000. Annual subscription required for SIPP offer. ---Get in touch 📧 [email protected] 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2026 Many Happy Returns