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Formula, ki je povzročila finančno krizo
Naslednja formula je povzročila finančno krizo:
Fantastičen članek na Wired o pomanjkljivostih modelov za ocenjevanje tveganj. Glavnina članka govori o Davidu X. Liju, ki je formulo ustvaril. Izbrani citat:
No one knew all of this better than David X. Li: “Very few people understand the essence of the model,” he told The Wall Street Journal way back in fall 2005.
“Li can’t be blamed,” says Gilkes of CreditSights. After all, he just invented the model. Instead, we should blame the bankers who misinterpreted it. And even then, the real danger was created not because any given trader adopted it but because every trader did. In financial markets, everybody doing the same thing is the classic recipe for a bubble and inevitable bust.
