"To Wilmott, Gaussian is an example of how dangerously abstract quant finance has become. 'We need to get back to testing models rather than revering them,' he says. 'That's hard work, but this idea that there are these great principles governing finance and that correlations can just be plucked out of the air is totally false.'"
Comments
"To Wilmott, Gaussian is an example of how dangerously abstract quant finance has become. 'We need to get back to testing models rather than revering them,' he says. 'That's hard work, but this idea that there are these great principles governing finance and that correlations can just be plucked out of the air is totally false.'"
Hear. Hear.