Backed by their models, they felt more certain than others did - almost invincible. Given enough time, given enough capital, the young geniuses from academe felt they could do no wrong
The young experts from academia, armed with their sophisticated models, held a strong belief in their infallibility. They felt a sense of invincibility, convinced that with ample time and financial resources, their strategies would yield success. This confidence shaped their approach to investment and risk management.
However, this overconfidence also blinded them to potential risks and realities of the market. Their reliance on formulas and theories led them to underestimate the complexities of financial systems. Ultimately, this belief in their genius would play a critical role in their downfall, as they faced unforeseen challenges that their models could not predict.
