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...these events—which he dubs “black swans”—are the most important determinants of the course of history. Models that fail to account for them are all but useless. Even so, Merton insists that the “degree of sophistication?? and the “mindset” in risk management have greatly improved in recent decades, since VaR was developed and popularized. But as its use became widespread, its users became, on average, less knowledgeable about its application than the group of traders who created...

Author: By Athena Y. Jiang, CRIMSON STAFF WRITER | Title: Post-Crisis Economics | 6/3/2009 | See Source »

...scared everyone out of ever wanting to have another one again.Carleton said that, although this was a beauty contest, it had nothing to do with bathing suits.“It was very civilized,” she said. “I think they were looking for sophistication??whether you were able to meet a professor and treat him well.”Although some students’ reactions to the beauty pageant seem to indicate a challenge to traditional gender conventions, the protest was far from radical. But such action was not limited to the pageant...

Author: By Brittany M Llewellyn and Laura G. Mirviss, CRIMSON STAFF WRITERSS | Title: Radcliffe on the Cusp | 6/1/2009 | See Source »

...Kimono Standing Beside a Decorated Christmas Tree” and paintings of women wearing mid-calf length daydresses and cloches aboard a sailboat resemble a vintage issue of Vogue, encapsulating the feeling of the era’s unprecedentedly rapid Westernization.The works within “Showa Sophistication?? capture the unbridled optimism of a nation, yet harbingers of the forties are visible even amongst the characteristically radiant imagery. Two elaborately decorated under-kimonos reveal upon closer inspection that they contain varied portrayals of Japanese military activity among the tourist spots. A stylish female skier on a snowy slope...

Author: By Roxanne J. Fequiere, CONTRIBUTING WRITER | Title: MFA Shows Off Showa Style | 2/20/2009 | See Source »

...stop in Harvard Square. In holding the festival, Lumen Eclipse hoped to expand the programming of the organization and attract a broader audience. They received 200 submissions from 19 countries, which judges whittled down to the 106 shown at the festival. The entries varied greatly in terms of sophistication??but that was exactly what the organizers were looking for. “We hoped the one-minute film festival would be a more approachable format to people who haven’t made a lot of films,” Hale says. Forty-eight of the entries were...

Author: By Rebecca J. Levitan, CONTRIBUTING WRITER | Title: 1 Min. Film Fest Worth the Time | 10/9/2008 | See Source »

...that it becomes a cause for bipartisan concern. This past July, for example, Obama found himself in hot water for expressing his willingness, if elected, to sit down and meet with Chavez. Hilary excoriated his naiveté, The Nation blogged a lament to his lack of “sophistication?? in matters of foreign policy, and Edwards flubbed somewhere in between. Even more insidious, however, was the framing of the question the candidates were responding to: In it, the government of Venezuela was unthinkingly lumped together with a list of alleged pariah states, including the two survivors...

Author: By Adaner Usmani | Title: The Revolution in Venezuela | 12/13/2007 | See Source »

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