Paul's Blog

Results and Ideas: Two classical putdowns

I spoke recently at a very academic conference. I usually prefer trader and fund events because of their focus on practical matters. But this was in a place that I’d never visited and so I […]

Paul's Blog

This is No Longer Funny

I’ve been critical of much of quant modelling for many years. I don’t like the assumptions, the models, the implementations. I’ve backed this up with sound reasons and wherever possible tried to find alternative approaches […]

Paul's Blog

Science in Finance V: Diversification

One of the first lessons in any course on quantitative finance will be about portfolio construction and the benefits of diversification, how to maximize expected return for a given level of risk. If assets are […]