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|**Epsilon Capital**| 9 (Backtesting) | 2018 |**$100 million**| Overfitted on 15 years of data, didn't walk-forward validate |
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|**Knight Capital**| 10 (Production) | Aug 2012 |**$460 million**| Manual deployment, no kill switch, 45 minutes of chaos |
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|**2024 Flash Crash**| 10 (Production) | Jun 2024 |**$2.3 trillion** (market cap) | No circuit breakers, cascading algo failures |
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### **Total Cost: $7.46 Billion**
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*(Real money. Real companies. Real consequences.)*
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Every chapter shows you **exactly** how these disasters could have been prevented — often with just a few days of work and $0-500/month in infrastructure costs. The Knight Capital disaster alone had a **920,000,000% ROI** on basic safety measures they skipped.
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**This textbook's goal:** Make sure you never appear on this list.
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---
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## 🗺️ Book Navigation
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### Part 0: Foundations (NEW! 2025)
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| Chapter | Title | Words | Topics |
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|---------|-------|-------|--------|
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|[08](08_time_series.md)| Time Series Analysis & Stationarity | 16,229 | ADF test, ARIMA, cointegration, Kalman filters, LTCM collapse |
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