Scholes dissing Taleb : http://www.ft.com/cms/s/0/26c2064e-0b15-11dd-8ccf-0000779fd2ac.html An ex-option trader vs. a theoritician ? I put my money on NNT Finance is finally catching up with the likes of physics where theory and practice are in a constant discrepancy ?
Sigh. I’m with Scholes on this. Taleb is just being an a$$hole and trying to sell books. He and Scholes have no disagreement on the usefulness of the model in the real world and both Taleb and Scholes know vastly more about the place of B-S in the universe than is part of this discussion.
InVinoVeritas Wrote: ------------------------------------------------------- > Scholes dissing Taleb : > > http://www.ft.com/cms/s/0/26c2064e-0b15-11dd-8ccf- > 0000779fd2ac.html > > An ex-option trader vs. a theoritician ? I put my > money on NNT > > Finance is finally catching up with the likes of > physics where theory and practice are in a > constant discrepancy ? LOL, NNT is a trader and Myron Scholes isn’t? Read ‘Fooled by Randomness’ and then ‘When Genius Failed’… Which guy do you think has more experience taking risk?
InVinoVeritas Wrote: ------------------------------------------------------- > Scholes dissing Taleb : > > http://www.ft.com/cms/s/0/26c2064e-0b15-11dd-8ccf- > 0000779fd2ac.html > > An ex-option trader vs. a theoritician ? I put my > money on NNT > > Finance is finally catching up with the likes of > physics where theory and practice are in a > constant discrepancy ? kind of funny article… You mean all the assumptions of B-S don’t hold exactly as they were intended?!! Sure takes a veteran option trader to figure that out…