Wall Street Quants Shouldn't Confuse Luck with
Skill
https://www.bloomberg.com/opinion/articles/2023-01-23/personal-wealth-wall-street-quants-shouldn-t-confuse-luck-with-skill
Aaron Brown notes:
Johannes Kepler is remembered for his seminal contributions to astronomy. However, like most 16th-century astronomers, he supported himself in part by making astrological predictions. His mentor, Michael Mäestlin, taught him to always prophesy disaster. If something bad happens, you’re celebrated for being right. If not, you’re celebrated for preventing catastrophe. Making optimistic predictions either makes you look foolish if bad things happen or be forgotten if nothing bad happens.
https://www.bloomberg.com/opinion/articles/2023-01-23/personal-wealth-wall-street-quants-shouldn-t-confuse-luck-with-skill
Aaron Brown notes:
Johannes Kepler is remembered for his seminal contributions to astronomy. However, like most 16th-century astronomers, he supported himself in part by making astrological predictions. His mentor, Michael Mäestlin, taught him to always prophesy disaster. If something bad happens, you’re celebrated for being right. If not, you’re celebrated for preventing catastrophe. Making optimistic predictions either makes you look foolish if bad things happen or be forgotten if nothing bad happens.