1 week, 3 days ago

"...analysts often get lost in the elegance of the math — and in so doing they completely lose sight of reality. Theorems like Modigliani-Miller Capital Structure Irrelevance are supported by completely valid mathematical arguments but are based on completely unsound premises."

https://www.institutionalinvestor.com/article/b15yvf1sxvm36p/mathematical-models-are-poor-predictors-in-finance