Indeed, the frequency of crashes in the Monte Carlo simulations was much smaller than the frequency of crashes in the real data: if one of the most frequently used benchmarks of the industry is incapable of reproducing the observed frequency of crashes, this indeed means that there is something to explain that may require new concepts and methods.

— Didier Sornette Why Stock Markets Crash - Critical Events in Complex Systems (2003)

More quotes by Didier Sornette

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Why Stock Markets Crash - Critical Events in Complex Systems (2003)

Quote text and notes from Wikiquote: Didier Sornette (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.