By: Terence Craig

Great post! While I would agree that there are many self-interested bad actors in any domain and that relying on a small pool of experts is always a bad practice especially in areas as lucrative as finance, but I also think that sheer incompetence combined with obtuse and inadequate analytics tools contributes hugely to bad modeling. Inadequate tooling, the <a href="http://en.wikipedia.org/wiki/Dunning-Kruger_effect" rel="nofollow">Dunning-Kruger</a> effect with a dash of self-interest and social pressure is always going to be an amazingly toxic combination that will produce skewed results.