From all I know, your rosy picture for statistics, etc. on Wall Street is not realistic. The Black-Scholes option pricing formula is simple to program and has

From all I know, your rosy picture for statistics, etc. on Wall Street is not realistic. The Black-Scholes option pricing formula is simple to program and has been programmed many times by people with essentially no knowledge of statistics -- or stochastic differential equations or the connections between probability theory and potential theory. I could go down a long list of evidence, but I will mention just two points: I still have a letter back to me from Fisher Black saying that he saw no such opportunities. Jim Simons has stated that he doesn't use math in his work.