Former University of Waterloo statistician David X. Li devised a formula that helped burn down the U.S. economy. His formula to calculate correlated risks in financial markets was "just simple enough for untrained financial analysts to use, but too complex for them to properly understand," the Toronto Star reports. "It appeared to allow them to definitively determine risk, effectively eliminating it. The result was an orgy of misspending that sent the U.S. banking system over a cliff."
Link
Tags:
No comments:
Post a Comment