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I had the misfortune of working for a firm where there were lots of actuaries.

Every day the team leader would ask a junior to run his pricing model for a structured product.

The junior would duly press F9 and the macro would commence, with the screen flashing away like a strobe light.

24 hours later the macro would stop and the boss would return to find out the answer, which was usually wrong by an order of magnitude.




How did you know the answer was wrong? If it was obvious to you, why wasn't it obvious to them?




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