<< What they forgot to do is to statistically test their models on line. >>
My experience with having to "model under pressure" is that: 1) you never have time to do sensitivity analysis, because 2) the people who are paying you are arrogant and convinced of their paradigm.
These trades are partly built upon programs that feed into othertrading situations. The permutations are difficult to understand and the "swinging dicks" actually believe that they've got the longest IQs on the block!!!
Jason