Here is what I wrote in my endorsement: Emanuel Derman has written my kind of a book, an elegant combination of memoir, confession, and essay on ethics, philosophy of science and professional practice. He convincingly establishes the difference between model and theory and shows why attempts to model financial markets can never be genuinely scientific. It vindicates those of us who hold that financial modeling is neither practical nor scientific. Exceedingly readable.

From the remarks here, people seem to be blaming Derman for not having written the type of books they usually read… They are blaming him for being original! This is very philistinic. This book is a personal essay; if you don’t like it, don’t read it, there is no need to blame the author for not delivering your regular science reporting. Why don’t you go blame Montaigne for discussing his personal habits in the middle of a meditation on war inspired by Plutarch?

Customer Review: Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life (Paperback)

Leave a Reply

Your email address will not be published. Required fields are marked *

Nassim Taleb Book Review: Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life

Posted on

February 21st, 2013

Tags