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I think I actually needed that decade to pass before I could look at the story anew.
LTCM's model continued to predict that it was properly hedged against a potential Russian default; the insight that it actually needed — that it was under-hedged and exposed to liquidity risk — could only have come from outside of the model.
Maybe I never actually needed that, I just got confused.
Similar(57)
What do I tell him? A. It's that first request to kill a guy, to make your bones, to put in for a chromatography unit you don't actually need, that keeps so many people from joining organized crime.
"I've had to tell myself I don't actually need that bar of chocolate.
No one actually needs that stuff.
Anyone who does not -- anyone who gets paid for the work -- actually needs that money to live on.
If women have to see their doctor to try to get it for free because they can't at their pharmacy, they're using up an emergency appointment, which could be used for someone who actually needs that time.
If women have to see their GP to try to get it for free because they can't at their pharmacy, they're using up an emergency appointment, which could be used for someone who actually needs that time.
We actually really need that".
So pause and ask yourself if you actually need that smartphone or scented candle tomorrow.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com