The Reality of Inventions & Discoveries

“I have a friend who liked to point out the obviousness of various great discoveries in physics and finance. The obviousness is a delusion. Many things seem clear only once they have been taught to you in a historical context, with all the prejudices, confusion, and competing theories omitted. Every iota of discovery, in finance or theoretical physics, comes at the cost of long immersion, hard labor, and struggle.” Emanuel Derman – “My life as a quant”

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