At a recent event hosted by the CFA Society of Toronto, I had the pleasure to listen to Dr. John Coates, a former trader who now is a neuroscience researcher at Cambridge University in the UK.
2011 was quite a year for StatPro Revolution.
Back in mid 2007, when the credit crisis first started to unleash its trail of wreckage, everyone was using risk models that focused on market risks.
The financial crisis has provoked a lot of naval gazing and blame in different proportions. One of the factors that got a lot of blame was "Value at Risk" or "VaR" for short.