Comment Re:BASIC (Score 1) 633
Yup. Basic in high school, Pascal in college, then LISP and assembly. Then I switched majors to Math
Yup. Basic in high school, Pascal in college, then LISP and assembly. Then I switched majors to Math
Food label Calories, and the ones in the daily recommendations, are in fact kcals.
Exactly my thought. Well done.
Thisaway and thataway? Better: deosil and widdershins.
... [T]he problem is that many people simply
That is exactly right. I'm kind of saddened that I had to go this deep in the comments to see this perspective, but this is why this argument exists. No "proof" will satisfy everyone because it's a tautology that relies on acknowledging the representation issue. Most people who have accepted the fact that limits exist would agree that the sum of 9 times 10^n for n=1 to infinity is one (because that in itself is shorthand for the limit of that sum from n=1 to N as N goes to infinity), but that is exactly the same as "proving" 0.99999 (repeating) is equal to one. No proof is necessary: they're just different representations of the same quantity.
I work in this area, and this isn't really that big of a deal, regardless of the spin they put in the announcement.
This is about publishing a reference implementation of an already widely published model so that when party A does a particular calculation, related to a settlement amount for a particular trade, and party B does the same calculation, the values match.
Qualitatively, and to a large extent quantitatively, everybody on the street has been using the same model all along. The idea of publishing a reference implementation is meant to minimize conflicts in settling trades.
The accuracy of the valuation model here is not at the heart of any of the problems that AIG -- or any other firm, for that matter -- have experienced. That's more aligned with a simple lack of oversight on exposure.
Men of lofty genius when they are doing the least work are most active. -- Leonardo da Vinci