Read this splendid article by Robert Clarkson.
He discusses the dangerous misuse of modern finance models that sparked the current worldwide credit crisis.
Much of the responsibility for the severity of the present worldwide credit crisis can be attributed to the unthinking use of dangerously unsound financial models by American and European banks.
In July 2008 Clarkson gave a corresponding presentation entitled “Actuarial insights into hedge fund management” at a conference on managing risk in hedge funds.
Some quotes:
He discusses the dangerous misuse of modern finance models that sparked the current worldwide credit crisis.
Much of the responsibility for the severity of the present worldwide credit crisis can be attributed to the unthinking use of dangerously unsound financial models by American and European banks.
In July 2008 Clarkson gave a corresponding presentation entitled “Actuarial insights into hedge fund management” at a conference on managing risk in hedge funds.
Some quotes:
- ADAM SMITH
The chance of loss is by most men undervalued. - WINSTON CHURCHILL
The further you look back in history, the further you can look forward.
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