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- Title
Forecasting Lessons from the Financial Meltdown.
- Authors
Lapide, Larry
- Abstract
After the financial markets melted down, some of the blame was attributed to the models and computer systems that had been put in place by so-called "quants" or math whizzes, who had developed very sophisticated mathematical models to make trading decisions. While the systems did not trigger the meltdown, they certainly set the markets into a more rapid tailspin. What did they do wrong, and what can forecasters, who are also "quants," learn from the meltdown? First and foremost they should take and live by a modified Modeler's Hippocratic Oath that was developers by two financial quants.
- Subjects
FINANCIAL markets; BUSINESS forecasting; BUSINESS planning; MATHEMATICAL models; COMPUTER systems; QUANTITATIVE analysts
- Publication
Journal of Business Forecasting, 2011, Vol 30, Issue 2, p18
- ISSN
1930-126X
- Publication type
Article