We apply exploratory data analysis to some of the basic models of neoclassical computational finance. These include the portfolio selection algorithm of Markowitz, the capital market line of Sharpe, and the option pricing model of Black-Scholes-Merton. We demonstrate that the Markowitzian...

The purpose of this article is to discuss why finance went from being a useful, albeit not all knowing, discipline to a state where its pronouncements presently not only are not useful but can be absolutely harmful. Before the 1950s, research in finance was essentially taxonomic and descriptive....