On Climate & Health, Beware of Easy Formulas

Michael Barone - April 16, 2009

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Beware of geeks bearing formulas. That's the lesson most of us have learned from the financial crisis. The "quants" who devised the risk models that induced so many financial institutions to buy mortgage-backed securities thought they had reduced risk down to zero.     Turns out they got a few things wrong. Their formulas were based on only a few years of actual data. Or they...

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Michael Barone


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