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I'm not sure what conclusion I'm supposed to draw from the implications here. Melvin lost money because they misapplied the Black-Scholes formula?
by tedunangst 6y ago
I'm not sure what conclusion I'm supposed to draw from the implications here. Melvin lost money because they misapplied the Black-Scholes formula?
- karaterobot 6y agoI took away the message that traders keep trying to make a perfect system in which there is no chance of losing money, but events like the GameStop fiasco prove they haven't managed to get there. He says this as though it's a meaningful conclusion to draw, even though earlier in that same article he wrote that 2020 was "the industry’s best year of gains in a decade."