[-empyre-] empyre Digest, Vol 51, Issue 22
jhaber at haberarts.com
Thu Feb 26 12:49:20 EST 2009
>>So interesting, yes, indeed the same affliction occurred on Wall
Street, that a correlation calculation could be presumed to be real, and
of course the converse, at the same time, that the real didn't matter.
Thanks, but let me add one more dimension. An artist or critic
knowingly creates a correlation -- an analogy or metaphor -- in hope of
insight or illumination. It's easy to fool ourselves into thinking we
don't create it, but that's from a good thing: the insight or
illumination is more important, we feel, that our ego (unless you're
But the broker isn't quite analogous. The broker here creates the
correlation, took, by restricting the mathematical model to new
instruments. They only went up, because they didn't exist before. But
there it's different: it's mistaking greed for insight.
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