Writer and Professor Emeritus of Financial Engineering at Columbia University
BOOK
Brief Hours and Weeks: My Life as a Capetonian
BOOK
Models Behaving Badly
BOOK
The Volatility Smile
BOOK
My Life as a Quant
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Why Is This Interesting? – The Tetragrammaton Edition
A single name–Bjork or Madonna–is grand. A single name with its own name is even grander.
Emanuel Derman on X
I"d forgotten I wrote this but yes, he wasn't allowed in as @Jadam2122 observed
Curious, did Vivek have the brains to stay out of this cluster fuck or was he not allowed in?
I know friends even two days ago who were telling me that Ramaswamy wasn't tarnished like Vance and Rubio. And I said anyone who played footsie even briefly revealed something unforgivable about their character. Now after yesterday my friends agree with me.
@EmanuelDerman My 3yo refused to watch the 7 minutes. (also he does not yet understand English). Instead, he repeated: "why?"
I’m re-quoting this because I think anybody in the world who wants to understand anything by asking the question ״why?״ should be forced to watch this first.
In 1983, a BBC interviewer asked Richard Feynman why two magnets push each other apart — and he refused to answer it.
What he did instead is the best seven minutes on thinking ever filmed.
Bookmark & watch today, no matter what.
I like this because it resonates with how I distinguished Models from Theories in Models.Behaving.Badly. Theories are absolute knowledge, as Feynman says about E&M. They (try to) describe a fact.
1/2
Models are merely analogies so you always ask Why? (A theory can be wrong; it's its nature that makes it a theory.)
You can, if you like, waste an hour and watch a long video about it here:
2/2 and I promise to stop now