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Emanuel Derman
Emanuel Derman
Professor of Professional Practice, Columbia University
How We Understand the World
How We Understand the World
There is no such thing as "raw" Data; Data has no voice of its own. Before Data can be fully heard, we need to give it a voice through things which we can understand: Theories, Intuition and Models. To this end, we create Theories: what deal with the world, on its own terms; that tell us what something is. Yet, it takes Intuition to first discover a theory. Finally, we use Models to depict what we find: metaphors, relative descriptions of the object of their attention that compare it to something similar, already better understood through a Theory. Models tell us merely what something is partially like. Why do we need these tools? How do they work? In this lecture, Derman will delve into why we use these methods to grasp the world around us, and answer the following question: what we can learn about ourselves from this need to transform Data?
The Randolph at Broome
349 Broome Street
New York, NY 10013, USA
Bio
Emanuel Derman is the Head of Risk and a partner at Prisma Capital Partners. He is also a former managing director of Goldman Sachs and was named the IAFE/Sungard Financial Engineer of the Year 2000. He was elected to the Risk Hall of Fame in 2002 and is the author of numerous articles. He is best known as an expert quantitative analyst, and author of several books including “My Life as a Quant: Reflections on Physics and Finance, which was one of Business Week's top ten books of the year for 2004.