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What are its applications?

What text did you use for it? In my years of schooling I have yet to come across a TA course that will teach you how to trade. Sure, universities will teach you what MACD or Stoch <i> is</i> but few, if any will encourage its use or show you how to apply it.

Of all things for a TA course to mispell, "Krondratieff" should not be one of them! :)

You should also look into the opportunities career services provide. Most schools have career fairs, including summer positions, where companies come to your college and recruit students. This is one of the best ways to network while still in school. Find something that will make you stand...

Surf, I sent you the Lo MacKinlay paper, I think you’ll like it. Its good stuff – they find that stock prices don’t follow random walks. Keep in mind though that they aren’t using high frequency data (weekly) and that its outdated. Also, it’s an asset pricing paper, not a...

hahaha! very true

I think schooling has a lot to do with it. Most quants are heavily school educated and are trained to think a certain way. But academia looks down on trading - unless it's institutional - and pushes quants away from trading. Most of the quants I graduated with all went into risk management...

Surf, what do you think about VLO nowadays?

...And my statistics professor would always say "A Rose by any other Name would smell as Sweet!" What have we proved? That statistics professors are also witty people. :)

I'm not sure i understand what you mean. Are you trying to say that logic (in some sense)is discrete while statistics (in a sense) is continuous?

charmer :)

Yes, there are absolute experts <i>in</i> any given field - i agree. BUT there are NO absolute (human) experts <i>of</i> ALL fields. Even an expert <i>in</i> X number of fields, does not mean an expert <i>of</i> all fields. -Anna

The world needs statisticians to test all the random theories that exist. Each person has numerous theories, some of which is nonsense. How do we decipher crap from meaning? Statistics. statisticians are able to test some theories and prove what is significant. Hence, your above statement...

This depends on whose perspective you are looking at the situation from and how you define a complex situation. I think Taleb was talking about the grand scheme of things and relating it to specific situations, like trading, everyday life etc. If a complex situation is defined by the market, I...

you left the last(best) paragraph out!! :p :p :p hahaha and again thats one talented photographer! :)

In a black and white world: By preparing for a black swan you're taking on as much, if not more, risk than if you were preparing for a "white swan". If that's what you meant, then I agree. However, if there is some gray in the world, then there (to some extent) exists the option of...

no no no, surf. thank YOU!! :p What a great picture! Whoever that photographer is should get some proceeds from the book :D

Dollar bills are more valuable. If given the choice between the two, you take the roll of dollar bills, neatly unroll $1 and use it to buy a roll of toilet paper. Then you have both luxuries. plain and simple :)

You’re first two statements about the institution and degrees are valid. I don’t wish to post personal information on a public message board nor do I think it has ANY relevance or application to the subject matter. I’m surprised someone who calls himself “Allmighty” would expect anyone...

A research university consists of faculty members who do more research than teach. They are compensated based on their research and publications, whereas a college, where the faculty’s main priority is teaching and not research, is not considered a research university. I didn’t...