The Persistence of Bad Models

i think it's about making sense of the world. And often the prediction of what we want to happen is motivated by our desires and biasies and goals. John marry weather, who you just brought a long term capital management, absolutely blew it up. I knew those guys, and was saying, leverach guys, iliquid. Not a good combination. But then he went on and raised another fund. So that leads me into the other aspect of your work that i actually love, because that's the malatof cocktail throwing part of it. You know, iave always site as one of the primary differences between practicioners and academics,. so when i did wat works on