tag:blogger.com,1999:blog-7905515.post5613758733294200793..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: The Continuing LamentEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7905515.post-11855058993805948422009-10-20T09:41:35.103-05:002009-10-20T09:41:35.103-05:00So in other words... there is nothing new under th...So in other words... there is nothing new under the sun? But I read that in the Bible!<br /><br />Seriously though, having been introduced to debates about economics and markets on the internet, I eventually read some history and was astonished to discover that basically everything we debate on blogs today was debated in more or less the same terms two or three hundred years ago. It made the ahistorical pretensions of modern-day academic economics seem completely inappropriate to me.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-1274534130225818182009-10-19T17:04:28.776-05:002009-10-19T17:04:28.776-05:00All true . . . but still people manage to forget i...All true . . . but still people manage to forget it.bjknoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-43218106704455320552009-10-19T12:55:32.235-05:002009-10-19T12:55:32.235-05:00Reminds me of Till Guldimann's quote: "Ri...Reminds me of Till Guldimann's quote: "RiskMetrics isn't a substitute for good management, experience and judgement. It's a toolbox, not a black box".<br /><br />So not only was VaR never intented to measure extreme events, the inventors actually pointed out the shortcomings of VaR as a general measure of risk from the very beginning.<br /><br />And how many people come up with similar quotes these days and think they are extremely smart...Michael Stastnyhttp://mahalanobis.twoday.netnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-30920635575937333152009-10-18T08:23:08.507-05:002009-10-18T08:23:08.507-05:00Hilarious!Hilarious!Anonymousnoreply@blogger.com