tag:blogger.com,1999:blog-3046071861494986299.post7565216983128387875..comments2023-08-26T05:08:54.898-07:00Comments on Magic, maths and money: Maths and the marketsTim Johnsonhttp://www.blogger.com/profile/06952723922503939504noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3046071861494986299.post-902552063927609692012-10-20T21:15:48.669-07:002012-10-20T21:15:48.669-07:00It seems that there is a divide amongst the quant ...It seems that there is a divide amongst the quant community in that some adhere to the established models (VaR,BSM,HJM) while understanding their faults, and others who flat out deny their usefulness and credit them with systemic risks. It seems like Taleb and Wilmott regularly criticize BSM and VaR for their underlying assumptions on log-normal prices but without the framework of these models it would seem that a quants role begins to incorporate heuristics more so than it once did. Not to say that's a bad thing. I have never been at a desk or even spoken to a quant personally so I wouldn't know. Dulbyhttps://www.blogger.com/profile/08986594983293298225noreply@blogger.com