The Era of Product Chasing - Did I miss the trade? S03:E11
Pirates of Finance
00:00
Non Stationarity Principles in Finance
The key phrase in that entire thing was non stationarity, right? It's almost like dark matter, right? Or emergent properties. And if you can't pick up on that and that you don't realize that that phrase means that they have no idea if this is going to work in a walk forward basis because it's a black box due to non stationarity of any replica data from past returns into actual trading in real time. This is not a ludic fallacy, right? Like this is not a closed loop system, like go or chess. You can't necessarily figure it out. The vol services are constantly undulating in the regime shifts every two to three years. Quite frankly
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