Emanuel Derman, Columbia University on mathematical models… Bloomberg

by Jim Colburn • Thursday, March 31, 2016


“Columbia University’s Emanuel Derman weighs in on the bell curve model and neo-classical finance on Bloomberg Surveillance with Tom Keene and Michael McKee”…

When Derman gets to talk, his comments are excellent!  The podcast says 20 minutes in length, but with commercials, news and a loquacious interviewer, Derman doesn’t get much time.. However, his chat on mathematical models is worth the listen… We taught this stuff (basically that complex math does a poor job modeling market behavior, but still can be useful) in our options classes back in the mid to late ’80’s (and still do!)… By the way, in 2014, Lloyd Blankfein was interviewed by Charlie Rose and had some interesting things to say on risk, starting at about 40 minutes left: http://www.hulu.com/watch/647659 “98% of my time is worrying about 2% of the worst contingencies”…

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