@article{WILM:WILM12182,

title = {Still Buffering: Options-Based Funds Gathering Traction and Critics},

author = {T Casey},

url = {http://dx.doi.org/10.54946/wilm.12182},

doi = {10.54946/wilm.12182},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

urldate = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Thelonious Casey takes a look at a hotly contested derivative strategy known as the defined outcome fund, or more colloquially the buffer fund.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12183,

title = {Replicating Financial Anomalies in Portfolio Selection},

author = {J Guerard and J Chen},

url = {http://dx.doi.org/10.54946/wilm.12183},

doi = {10.54946/wilm.12183},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Financial anomalies have been studied in the US for over 90 years. Recent evidence suggests that financial anomalies have diminished in the US and possibly in non-US portfolios. Have the anomalies changed and are they persistent? Have historical and earnings forecasting data been a consistent, and highly statistically significant, source of excess returns? The authors test many financial anomalies of the 1980\textendash1990s and report that several models and strategies continue produce statistically significant excess returns. The authors test a large set in US and non-US markets over the past 30 years. The authors report that many of these fundamentals, earnings forecasts, revisions, and breadth and momentum strategies maintained their statistical significance during the 1995\textendash2023 time period. Moreover, the earnings forecasting model and robust regression estimated composite model excess returns are greater in non-US and global markets than in the US markets. The authors further report that several weighting schemes for robust regression identify financial anomalies. Yes, Virginia, Martin, Guerard, and Xia (2024) report a more statistically motivated robust regression methodology, mOpt, that is highly statistically significant, but the authors report that alternative procedures offer effective models produce highly statistically significant stock selection models.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12184,

title = {Tossing Half-Coins and Other Partial Coins: Signed Probabilities and Sibuya Distribution},

author = {I Podlubny and N Leonenko},

url = {http://dx.doi.org/10.54946/wilm.12184},

doi = {10.54946/wilm.12184},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {A method for numerical simulation of signed probability distributions for the case of tossing 1/n-th of a coin is presented and illustrated by examples.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12185,

title = {It's All in the Game?},

author = {Rudi Bogni},

url = {http://dx.doi.org/10.54946/wilm.12185},

doi = {10.54946/wilm.12185},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {How to channel Nash when the opponent does not seem to know in advance what new rules he wishes to invoke.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12186,

title = {The Replication Crisis},

author = {Daniel Tudball},

url = {http://dx.doi.org/10.54946/wilm.12186},

doi = {10.54946/wilm.12186},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Index},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12187,

title = {Lies, Damned Lies and “Studies Prove”},

author = {Aaron Brown},

url = {http://dx.doi.org/10.54946/wilm.12187},

doi = {10.54946/wilm.12187},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Aaron Brown examines the underlying dynamics of the generalized replication crisis, illustrating how p-value, prior probability, power, and practical relevance would better inform our own assessment of research in finance and economics.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12188,

title = {Why Most Published Research Findings Are Worthless},

author = {Dariusz Gatarek},

url = {http://dx.doi.org/10.54946/wilm.12188},

doi = {10.54946/wilm.12188},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Dariusz Gatarek suggests that quantitative finance suffers from the same diseases as the rest of science, and one more: Dissociative Identity Disorder.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12189,

title = {Are Most Published Research Findings in Financial Economics False?},

author = {Robert Jarrow},

url = {http://dx.doi.org/10.54946/wilm.12189},

doi = {10.54946/wilm.12189},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

urldate = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Robert Jarrow explores whether Ioannidis’ finding applies to financial economics literature.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12190,

title = {Practical Replication Failures in Finance From Replication Crisis to Confidence Crisis},

author = {Rolf Poulsen},

url = {http://dx.doi.org/10.54946/wilm.12190},

doi = {10.54946/wilm.12190},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {From replication crisis to confidence crisis with Lars Elmegaard-Fessel and Rolf Poulsen.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12191,

title = {The Endless Replication Crisis in Economics and Finance},

author = {David Orrell},

url = {http://dx.doi.org/10.54946/wilm.12191},

doi = {10.54946/wilm.12191},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Economics and finance seem outwardly unrocked by the replication crisis in other disciplines. The truth, David Orrell writes, is that the crisis in these fields is a little different, and in some respects even worse.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12192,

title = {The Software Side of Replication},

author = {Luigi Ballabio},

url = {http://dx.doi.org/10.54946/wilm.12192},

doi = {10.54946/wilm.12192},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Luigi Ballabio asks what if you could make it a lot easier for readers to replicate your paper?},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12193,

title = {When Politics Masquerades as Science: RIP ESG},

author = {Wim Schoutens},

url = {http://dx.doi.org/10.54946/wilm.12193},

doi = {10.54946/wilm.12193},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {If ESG research were grounded in robust empirical science, it would remain valid regardless of who holds power, writes Wim Schoutens.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12194,

title = {False Findings in Finance: The Hidden Costs of Misleading Results in the Age of AI},

author = {D Bloch},

url = {http://dx.doi.org/10.54946/wilm.12194},

doi = {10.54946/wilm.12194},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {In finance and economics, where empirical research underpins investment strategies, regulatory design, and policy decisions, false findings have material consequences. This article investigates the mechanisms that lead to misleading results in financial research, from flawed assumptions to misaligned incentives. At the heart of the issue lies a fundamental methodological error: the widespread assumption that financial time series are both stationary and a-Holder continuous. The case studies explored in this article, spanning AI-driven models and advanced quantitative techniques, rely on statistical tools built for stable environments. Yet, financial markets are inherently non-stationary, shaped by regime shifts, stochastic volatility, and structural breaks. Ignoring this reality leads not only to invalid inference but to costly misallocations in practice. Bloch argues for a foundational shift in financial research: one that embraces models tailored for non-stationary dynamics and confronts the epistemological limits of prediction in complex systems.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12195,

title = {Why So Much Science Doesn’t Hold Up and What Quantitative Minds Can Do About It},

author = {S Weston and M Perez-Ortiz and P Barucca},

url = {http://dx.doi.org/10.54946/wilm.12195},

doi = {10.54946/wilm.12195},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {“It’s a difference of opinion that makes a horse race.” Generally attributed to Mark Twain, this quote encapsulates the debate over the usefulness of research amid growing concerns in the scientific community about the replicability, reproducibility, and reliability of research findings. This article explores the debate from philosophical, statistical, and methodological perspectives, highlighting the scope of the apparent replication crisis in both natural and social sciences. The authors discuss how over-reliance on p-values and null hypothesis significance testing (NHST) has led to unreliable results and explore alternatives\textemdashsuch as Bayesian methods and effect size estimation\textemdashthat go beyond the p\<0.05 paradigm. Methodological reforms including open science practices and preregistration are reviewed for their role in improving research credibility. Throughout, the authors demonstrate computational aspects of reproducibility with Python code examples, demonstrating how researchers can use programming tools to ensure their quantitative results are robust and replicable.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12196,

title = {Replication Crisis in Math Finance? No Way, Its History Is Too Beautiful To Be False!},

author = {A Swishchuk},

url = {http://dx.doi.org/10.54946/wilm.12196},

doi = {10.54946/wilm.12196},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Anatoliy Swishchuk says no way, its history is too beautiful to be false!},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{WILM:WILM12197,

title = {The Positive Role of Academic Research in Finance},

author = {AK Kumar},

url = {http://dx.doi.org/10.54946/wilm.12197},

doi = {10.54946/wilm.12197},

issn = {1541-8286},

year  = {2025},

date = {2025-01-01},

journal = {Wilmott},

volume = {2025},

number = {140},

publisher = {Wilmott Magazine, Ltd},

abstract = {Dr Aneish Kumar discusses the positive role of academic research in finance.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}