Meet the man whose big idea felled Wall Street

http://www.thestar.com/printArticle/604033

Former University of Waterloo statistician David X. Li didn't burn down the American economy. He just supplied the matches.

As economists and market watchers cast about for people to blame for the U.S. market meltdown, Li has surfaced as a scapegoat. Recently, Wired magazine ran an article on Li's work subtitled, "The Formula That Killed Wall Street."

The formula in question is the so-called Gaussian copula function. On the most basic level, the formula allows statisticians to model the behaviour of several correlated risks at once.

More...

Поучителна история – и за индивидуалния успех, и за икономическата ситуация, и за социолния аспект на това, което правим, към което се стремим и което научаваме и прилагаме всекидневно.