Financial Modelers' Manifesto

The Financial Modelers' Manifesto was a proposal for more responsibility in risk management and quantitative finance written by financial engineers Emanuel Derman and Paul Wilmott. The manifesto includes a Modelers' Hippocratic Oath. The structure of the Financial Modelers' Manifesto mirrors that of The Communist Manifesto of 1848.

The Manifesto and Oath were written in response to the Financial crisis of 2007–2010 with the collapse of subprime mortgages. A shortened version was published in Business Week in December 2008 with the complete version appearing shortly afterwards; the full text is available here[1].

Note that both authors had written extensively about the risks related to financial models for several years before the crisis; for example:

Emanuel Derman in 1996:

Paul Wilmott in 2000:

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