Friday, June 07, 2013

Forecast That.... !


"VaR" - (Vacuous and Robust !)


"The best economists are well aware of their ignorance."

- Noah Smith



3 comments:

Anonymous said...

Multiple Choice Question:

Who is most frequently correct with their Vacuous and Robust forecasts:

A) NCUA Chief Economist;
B) The Weatherman;
C) Broken Clock.

Stuart Perlitsh said...

The broken clock is correct at least twice a day.

Anonymous said...

So are you suggesting that Adam Smith has something to be concerned about if the Economists at NCUA ever admit to their ignorance?