Wilmott on copulas

February 26, 2009 in Finance,Math

Paul Wilmott has responded ("Copulas and Cults") to the Wired article on copulas I mentioned recently. His tone is grave: "Far more serious, because it extends to all of finance not just to a single model, is the poor education that people get in university financial engineering programs and also the blind-following-the-blind behaviour that is so common throughout the industry" and his punchline comes in the middle:

Question everything. Switch your brains back on.

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