The post is quite poor and suffer a lot from hindsight bias. Following article is so much better: http://www.kitchensoap.com/2013/10/29/counterfactuals-knight-c

The post is quite poor and suffer a lot from hindsight bias. Following article is so much better: http://www.kitchensoap.com/2013/10/29/counterfactuals-knight-capital/ http://www.kitchensoap.com/2013/10/29/counterfactuals-knight...