VAR, Black Swan, Fat Tails, Krisis dan Kelemahan Model Finance

The 1% Panic Our financial models were only meant to work 99% of the time. By L. GORDON CROVITZ The Panic of 2008 is a crisis of trust. Investors don’t trust the value of bad debts enough to offer market-clearing prices. Banks don’t trust one another to stay in business long enough to do business [...]

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