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Overquantification

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  • Jack Gray

Abstract

Data are our industry's raw material. Our challenge is to add value by transforming them into meaningful and actionable information. Too narrow a focus on a “scientific” approach exposes us to the risk of overquantification—when ever-more precise measurement and ever-more complex models and calculations become substitutes for human judgment. This risk is increasing as the information age envelops us. Effective hedging requires equal emphasis on a “humanist” approach that demands creative, qualitative, hermeneutic skills, such as the use of analogies and metaphors; an awareness of human and social psychology; and a contrarian style that forever seeks to falsify.

Suggested Citation

  • Jack Gray, 1997. "Overquantification," Financial Analysts Journal, Taylor & Francis Journals, vol. 53(6), pages 5-12, November.
    • Handle: RePEc:taf:ufajxx:v:53:y:1997:i:6:p:5-12
    DOI: 10.2469/faj.v53.n6.2125
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