Fooled by a Red Herring: Black Swans and other Sterile Creatures in Finance...
INTRODUCTION: AN EPIDEMIC OF QUIXOTISM Tony is smart, curious and eager to learn, but his many classroom interruptions with silly comments drive his teachers to despair. Tony: What do you mean, Mrs....
View ArticleSCIENTIST BEHAVING BADLY – A Review of Models. Behaving. Badly. by Emanuel...
The book’s subtitle is “Why confusing loose-association metaphysics with a sound argument can lead to absurdity, in finance and in philosophy”. Just kidding, that’s the subtitle of my review. First I...
View ArticleFOOLED BY A RED HERRING – Chapter 1: The “Problem” of Induction
(click here for introduction to Fooled By A Red Herring) Induction is often contrasted with deduction. Both are types of reasoning. Deduction starts with general statements (e.g. all humans are mortal)...
View ArticleSCIENTIST BEHAVING BADLY – An update
The book by Emanuel Derman, which I reviewed in an earlier post, was not well received generally by the readers that reviewed it on Amazon. That must have incited the venerated Nassim N. Taleb to throw...
View ArticleMODELING 101 – Part 2
(click here for introduction and part 1) A Primer On Mathematical Models In Finance Let me start by saying what part 2 is not about. It’s not about the spreadsheet models financial analysts use to...
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