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. ↗
Just, you never know what the next day is going to bring. That goes for football, goes for off the field, and I gave up a long time ago trying to predict the future and trying to deal with things I couldn't deal with. ↗
It's always hard to predict what's coming up next. My main guess is that content creators will increasingly start using BitTorrent to distribute their own work directly. ↗
But while we can never predict where events will take us or the unavoidable bills we will have to pay as a consequence, we must confront the ghastly truth of Labour's legacy. ↗
However, the models also predict unambiguously that the atmosphere is warming faster than the surface of the earth; but all the available observational data unambiguously shows the opposite! ↗
It's a lot of random situations that combine in a certain volatile form and create a bigger-than- the-whole situation that nobody could have predicted. ↗
I've always seen the world through the eyes of a scientist. I love the predictable outcomes that science gives us, the control over the world that that can render. ↗
