When it comes to using data to personalize medicine, Google and a UK hospital group’s partnership to build a personalized healthcare app – using 1.6 million health records – is really just the tip of ...

Numbers are rather useful. This is unfortunate, because they're also rather confusing. Our brains have a hard time making sense of lists of numbers, so we employ an imaginary friend to help us — the ...

As a financial advisor, I’ve had the pleasure of helping many clients comfortably reach and enjoy their retirement years. During my career, a few consistent themes have emerged. Clients generally want ...

Advisors and websites often show clients the results of large numbers of Monte Carlo simulations. It is hoped that clients will be calmed by pursuing avenues predicted to have a 90% chance of success.

Monte Carlo Simulations are a modeling tool used to simulate reality and calculate probabilities of a portfolio supporting a certain withdrawal rate. With the market collapse of 2008, however, many ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...

You can’t predict the future, of course, but that doesn’t stop some financial professionals from trying. Of the many methods devised to anticipate different possible futures in financial planning, ...

Bob’s financial advisor just ran a “Monte Carlo analysis” for him.What’s a “Monte Carlo analysis”?It’s a tool used to test how a person’s retirement savings and plan would hold up given a variety of ...

Brokers just received a Valentine in the form of a new regulation permitting them to use investment analysis tools such as Monte Carlo simulations in discussions with clients. The interpretation of ...