Interception

These endeavors have spent a lot of virtual ink over the last year or so making that case that financial quants don't know as much as they think, and that the events which led to The Great Recession and London Whale should be, but clearly haven't been, teaching moments. I've heard tell of various bots and such, but this expose` is truly mindnumbing.

As has been promulgated here, it is events which move data, not the other way 'round. While time series analysis can give one a warm and fuzzy feeling that the way of the world is clearly delineated in all-the-data-to-today, and one can happily predict off the end of this curve, it's not much more than tossing a dart in a pub.

You must read it.