Goodbye, Arthur C Clark!
You will be missed. :(
Wednesday, March 19, 2008
Tuesday, March 18, 2008
The maestro on risk management
With all its mathematical sophistication, current financial and economic risk management breaks down. In an FT article, the maestro explains, "The most credible explanation of why risk management based on state-of-the-art statistical models can perform so poorly is that the underlying data used to estimate a model’s structure are drawn generally from both periods of euphoria and periods of fear, that is, from regimes with importantly different dynamics."
With all its mathematical sophistication, current financial and economic risk management breaks down. In an FT article, the maestro explains, "The most credible explanation of why risk management based on state-of-the-art statistical models can perform so poorly is that the underlying data used to estimate a model’s structure are drawn generally from both periods of euphoria and periods of fear, that is, from regimes with importantly different dynamics."
Saturday, March 08, 2008
"Art will become a crucial source of scientific ideas"
So says Jonah Lehrer who himself has impeccable science credentials. See how Marcel Proust could be a neuroscientist!
So says Jonah Lehrer who himself has impeccable science credentials. See how Marcel Proust could be a neuroscientist!
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