Mathematics, like physics, has a seductive quality about it. Math leads us toward precision and away from ambiguity. Still, there is an uneasy relationship between quantification of the past in order to predict versus subjective degrees of belief about what the future might hold. The economist and Nobel laureate Kenneth Arrow warns us that the mathematically driven risk management approach to investing contains the seeds of its own self-destructive technology. He writes, “Our knowledge of the way things work, in society or in nature, comes trailing clouds of vagueness. Vast ills have followed
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