“
If you tell me what you mean by ‘correct model’, I’ll tell you what the practical accuracy is.
— Emanuel Derman, on the sociology of finance. He posts another elegant piece.
Founder of Perpetually and native New Yorker. I organize JellyNYC and helped start New Work City in 2010. I built the real-time trading system for a statarb hedge fund before it was easy or destructive.
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