Myron Sholes was just on bloomberg, he’s originally from Timmins, Ontario…cool! He moved to Chicago because of the economics research coming out of the school ’spoke to him’.
He spoke in a fluid prophetic manor with respect to those who are “Flexible”. They inherently possess more ‘options’ than those who are inflexible. Since options have value, flexibility is valuable, which can be invested just like any other form of value. It makes so much sense at any level of an organization’s hierarchy. From a single person’s perspective to a multi billion dollar empire. It also parallels the law of large numbers.
He also spoke on ‘Intuition’ and said it can lead us to believe stuff that we don’t correctly understand. So, true. Guilty. Creating a model, then testing it against data, eliminates this problem and returns progress.
Glad I tuned in.