If you have a method for reproducing complex adaptive systems then you are ahead of the game. If you can forecast them... Quote from Science Trader Thermodynamics is the same. You can find empirical law which work very well but still can find exactly the same results starting from individual interactions between molecules. Then a plain N->infinity with some ratio kept constant and here you are. Humans are not idfferent (once their decision is taken and their behavior under certain conditions fairly reproductible).
Quants seem to have a hard time dealing with the real world once they learn all the mumbo jumbo mush mash pumped between their ears. This is from over 5 years ago and seems to still be true. http://www.ederman.com/new/docs/risk-quants_dont_learn.html
This being the last post in ET. I find this completely relevant. Common sense is subjective and it's a major bitch to deal with.
The problem with quants is that they believe you can predict the future using historical data. History never repeats itself the same way. I would like to see more philosophy majors in trading. At least the conversations will be a lot more interesting.
Quants are a dime a dozen. But a trader who can combine Derrida with phallocentric humor - now that's priceless.
LMAO My favorite is the one with two white coat scientists at the chalk board. They are starring at a bunch of complex equations that trace a complex argument to the left, then in the middle of the chalkboard it reads "then a miracle happens", followed by more complex equations and line of thought to the right.
Wow, your level of sophistication or better said, the lack of it is amazing! Why do you insist on embarrassing yourself by showing off your naivety and shear ignorance?