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fantastic indexes that tell us that the probability of us
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losing more than 20% of our capital is .005."
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You couldn't do it.
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Suddenly, with this data, a little bit of information is
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a really dangerous thing when you put it in front of somebody
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that knows how to crank through a regression.
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It's a terrible thing to blame Bob Shiller,
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the person that forecast this crash,
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to blame him on the other hand, for providing the matches that
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allowed people to burn down the house.
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It was a failure of models
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but you can't run the models without the data.