Risky Business
January 5, 2009 11:01 AM Subscribe
The New York Times' Joe Nocera on what went wrong.
(VaR: "relatively useless as a risk management tool and potentially catastrophic when its use creates a false sense of security. This is like an airbag that works all the time, except when you have a car accident.") [pdf] -David Einhorn [previously]
"The piece so badly misses the basics about VaR that it is hard to take it seriously, although many no doubt will."
"Like many [New York Times] Magazine articles, it is long on personalities and history, and somewhat light on substance"
(VaR: "relatively useless as a risk management tool and potentially catastrophic when its use creates a false sense of security. This is like an airbag that works all the time, except when you have a car accident.") [pdf] -David Einhorn [previously]
"The piece so badly misses the basics about VaR that it is hard to take it seriously, although many no doubt will."
"Like many [New York Times] Magazine articles, it is long on personalities and history, and somewhat light on substance"
This post was deleted for the following reason: post this in the existing thread. -- jessamyn
Um, dude, couldn't you just post all this in the existing thread? You're not really being a hero by posting the same subject twice.
posted by Eekacat at 11:23 AM on January 5, 2009
posted by Eekacat at 11:23 AM on January 5, 2009
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posted by Horace Rumpole at 11:19 AM on January 5, 2009