IDRC, A Speciality Management Consulting, Partners With UnRisk

IDRC is a professional services and consulting expert in Data Analysis and Quantitative Modeling and Research, based in Frankfurt, London, Moscow and Mumbai. Their consulting is packed as two broad formats: ProcessAnalytics and Quant Research Center.

EMH Is An Illuminating Idea - But Not Reality

Recently, John Kay received attention on his essay The Map Is Not The Territory.
He spells out methodological critiques of economic theory in general and rational expectations in particular (interestingly enough 2011 Nobel prize winners Sargent and Sims - received the price for their  research having centered around the rational expectation framework).
In the core of Kay's critique: the EMH is an illumination idea, but it is not "reality"

Model Validation - New or Used?

Validate models qualitatively and quantitatively that are used by the front-office.
Is it enough to assess, whether a model or methodology is fit for its purpose?
No. What is the subdomain where it is? Can it be easily extended to become more adequate covering a broader variety of deal types (extrapolation is dangerous)?

Did Our Training Change In Response To The Crisis?

Yes it did. In 2009 we launched the UnRisk Academy that extended our product use training with courses providing full explanation on quantitative theories, mathematical approaches and critical implementations.