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Academic Research Quote of the day
There is an increasing gap between academic research and business application. Sometimes the incentives for success in the academic world are not consistent with what it takes to run a company.
I don't accept the argument of people like David Horowitz that the government should impose some sort of predetermined political balance on academic research.
My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; also the pricing of derivative securities.