Summary:
The book delves into the complexities of financial risk management, critiquing the reliance on quantitative models that often fail to predict market behavior accurately. It advocates for a more nuanced approach that incorporates both sophisticated mathematical techniques and an understanding of the human elements that drive financial decisions.
Key points:
1. Complexity of Risk Management: Rebonato believes traditional financial risk models are too simple and don't account for real-world complexities like human behavior and market connections.
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