Comment Re:Data mining certainly not worthless (Score 2, Insightful) 70
OK - I'll admit it - I did engage in a little bit of hyperbole.
But you have to admit that "at best worthless" has a better ring to it than "at best, when combined with a qualitative analysis of the model itself, and some testing with out of sample data, can be a useful tool in decision making".
You are right that no investment bank will go anywhere near this.