In real-world Finance, they don't pay for elegance. They pay for power - predictive power.
Robert HaugenSo you see, in the end, it is nearly certain that the power of prediction must triumph over the arrogance of elegance.
Robert HaugenA comprehensive list of factors brings predictive stability and predictive stability and predictive power.
Robert HaugenThe New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it over estimates the length of the short run. In doing so, it overreacts to records of success and failure for individual companies, driving the prices of successful firms too high and their unsuccessful counterparts too low.
Robert Haugen