Attractive graphics without chart junk

A picture is worth a thousand words, but ten pictures are worth much less than ten thousand words One of the most common problems with visualisation, especially in the media, is that of “chart junk”. Graphics designers working for newspapers and television channels like to decorate their graphs, to make it more visually appealing. And…

A banker’s apology

Whenever there is a massive stock market crash, like the one in 1987, or the crisis in 2008, it is common for investment banking quants to talk about how it was a “1 in zillion years” event. This is on account of their models that typically assume that stock prices are lognormal, and that stock…