"All this works great, until it doesn't."The guy writing the quants article could have saved millions of pixels. The author might have at least mentioned the quants at the ratings agency's cheerfully joining in the mathmatically precise circle jerk. It couldn't have happened without 'em.I wonder how long the precept of "abstinence is safer than the algorithm method" will hold up? I would guess that it wouldn't be too long. The fascination with black boxes runs too deep.
It's hard to see how quants could successfully exceed half of total volume--about where they are.
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