Wednesday, November 28, 2007

Standard deviation

MBAs were all doing the same thing, all evaluating these [financial market] vehicles the same way. Partly as a result, we have a 25 sigma event -- which should happen only once every 10,000 years -- and now they had one every day for three days in a row. --CNBC guest, 3:52 PM 10/23/2007

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