En un post de Zero Hedge se ofrece una interesante purga quant. Hay algunos condimentos de Rage Against The Models- pero entretenida de leer.
In 2008 Emanuel Derman and Paul Wilmott (two most famous names among quants) wrote the following in the article published in Business Week:
“Financial markets are alive. A model, however beautiful, is an artifice. To confuse the model with the world is to embrace a future disaster in the belief that humans obey mathematical principles.
How can we get our fellow modelers to give up their fantasy of perfection? We propose, not entirely in jest, a model makers’ Hippocratic Oath:
• I will remember that I didn’t make the world and that it doesn’t satisfy my equations.
• Though I will use models boldly to estimate value, I will not be overly impressed by mathematics.
• I will never sacrifice reality for elegance without explaining why I have done so. Nor will I give the people who use my model false comfort about its accuracy. Instead, I will make explicit its assumptions and oversights.
• I understand that my work may have enormous effects on society and the economy, many of them beyond my comprehension. “