Models. Behaving. Badly. - Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life

Whereas the majority of quantitative finance books focus on mathematics and risk management books focus on regulatory aspects, this book addresses the elements missed by this literature--the risks of the models themselves. This book starts from regulatory issues, but translates them into practical suggestions to reduce the likelihood of model losses, basing model risk and validation on market experience and on a wide range of real-world examples, with a high level of detail and precise operative indications.

“Every C++ professional needs a copy of Effective C++. It is an absolute must-read for anyone thinking of doing serious C++ development. If you’ve never read Effective C++ and you think you know everything about C++, think again.”
— Steve Schirripa, Software Engineer, Google

“C++ and the C++ community have grown up in the last fifteen years, and the third edition of Effective C++ reflects this. The clear and precise style of the book is evidence of Scott’s deep insight and distinctive ability to impart knowledge.”
— Gerhard Kreuzer, Research and Development Engineer, Siemens AG

The first two editions of Effective C++ were embraced by hundreds of thousands of programmers worldwide. The reason is clear: Scott Meyers’ practical approach to C++ describes the rules of thumb used by the experts — the things they almost always do or almost always avoid doing — to produce clear, correct, efficient code.

The book is organized around 55 specific guidelines, each of which describes a way to write better C++. Each is backed by concrete examples. For this third edition, more than half the content is new, including added chapters on managing resources and using templates. Topics from the second edition have been extensively revised to reflect modern design considerations, including exceptions, design patterns, and multithreading.

Important features of Effective C++ include:

• Expert guidance on the design of effective classes, functions, templates, and inheritance hierarchies.
• Applications of new “TR1” standard library functionality, along with comparisons to existing standard library components.
• Insights into differences between C++ and other languages (e.g., Java, C#, C) that help developers from those languages assimilate “the C++ way” of doing things.

The Problem with Survey Research makes a case against survey research as a primary source of reliable information. George Beam argues that all survey research instruments, all types of asking—including polls, face-to-face interviews, and focus groups—produce unreliable and potentially inaccurate results. Because those who rely on survey research only see answers to questions, it is impossible for them, or anyone else, to evaluate the results. They cannot know if the answers correspond to respondents’ actual behaviors (objective phenomena) or to their true beliefs and opinions (subjective phenomena). Reliable information can only be acquired by observation, experimentation, multiple sources of data, formal model building and testing, document analysis, and comparison.

In fifteen chapters divided into six parts—Ubiquity of Survey Research, The Problem, Asking Instruments, Asking Settings, Askers, and Proper Methods and Research Designs—The Problem with Survey Research demonstrates how asking instruments, settings in which asking and answering take place, and survey researchers themselves skew results and thereby make answers unreliable. The last two chapters and appendices examine observation, other methods of data collection and research designs that may produce accurate or correct information, and shows how reliance on survey research can be overcome, and must be.