To Survive Disasters, You Need Smiles (guest: Steve Hou)
The Market Huddle
00:00
Is There a Model That Works?
A trader can build a model that works for him that cannot easily communicate or may not even be correct. An academic seeks to find a model that actually is correct, but also has an internal coherence and internal consistency. A lot of these models we have learned in economics curriculum over the years that have become so useless are because they want to make a model that is internally consistent.
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