Alan White and I spent the next two or three years working together on this. We developed what is known a stochastic volatility model. This is a model where the volatility as well as the underlying asset price moves around in an unpredictable way. ↗
I have never yet seen any plan which has not been mended by the observations of those who were much inferior in understanding to the person who took the lead in the business. ↗
White... is not a mere absence of colour; it is a shining and affirmative thing, as fierce as red, as definite as black... God paints in many colours; but He never paints so gorgeously, I had almost said so gaudily, as when He paints in white. ↗