171:. Kay & King (2020, p. 68) refer to the 'Viniar problem': 'He confused a probability as calculated within a model with a probability in the world of which the model claimed to be a representation. To make a statement about probability in a real world it is necessary to compound the probability derived from the model itself with the probability that the model itself is true. And there is no means of knowing whether the model is true."
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reported Viniar's explanation of why two large hedge funds managed by
Goldman Sachs had both lost over a quarter of their value in a week, requiring the injection of $ 3 billion to support them. Viniar ascribed the events to a series of exceptional events: "We were seeing things that were 25 standard
138:
Viniar headed the
Finance Division and co-head of credit risk management and advisory and firmwide risk from December 2001 to December 2002. He co-headed operations, finance and resources from March 1999 to December 2001. He was CFO of the Goldman Sachs Group, L.P. from March 1999 to May 1999. From
139:
July 1998 until March 1999, he was deputy chief financial officer, and from 1994 until July 1998 he was head of finance, with responsibility for controllers and treasury. From 1992 to 1994, he was head of treasury and prior to that was in the
Structured Finance Department of investment banking.
180:
142:
In
September 2012 Viniar announced that he would be retiring from Goldman Sachs in January 2013. On January 31, 2013, he retired from his positions as CFO and executive vice president and took on the role of director at Goldman Sachs.
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deviation moves, several days in a row". This has since been used to illustrate the problems of inappropriate mathematical models in finance, especially those based on the assumption of
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Crotty, James. "Structural causes of the global financial crisis: a critical assessment of the ‘new financial architecture’." Cambridge
Journal of Economics 33.4 (2009): 563-580
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in 1996 and executive vice president and chief financial officer in 1999. He has been the head of
Operations, Technology, Finance and Services Division since December 2002.
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on
Tuesday, April 27, 2010 regarding the role of investment banks in the financial crisis that began in 2007 and, specifically, the role of Goldman Sachs in that crisis.
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Conti-Brown, Peter. "Proposed Fat-Tail Risk Metric: Disclosures, Derivatives, and the
Measurement of Financial Risk, A." Wash. UL Rev. 87 (2009): 1461.
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https://web.archive.org/web/20080929125908/http://people.forbes.com/profile/david-a-viniar/37701
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Notice of upcoming testimony by David Viniar to the United States Senate
Permanent Subcommittee
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from 1999 until
January 31, 2013. He is currently on the board of directors of Goldman Sachs.
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108:, Viniar spent summers at Kozan's Bungalow Colony in Ellenville, New York, and graduated from
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John Kay & Mervyn King, Radical Uncertainty, London, The Bridge Street Press, 2020
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Dowd, Kevin, et al. "How unlucky is 25-sigma?." arXiv preprint arXiv:1103.5672 (2011)
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On October 30, 2013, Viniar became a director on the board of
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286:"Accolades: David Viniar '76: Making hoop dreams come true"
112:, in 1976, where he majored in economics. He then attended
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412:Goldman and Investors to Put $ 3 Billion Into Fund
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195:and is a member of the board of trustees of both
181:Senate Permanent Subcommittee on Investigations
239:David Viniar '76: Making hoop dreams come true
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8:
92:was the CFO and executive vice president at
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191:Viniar served on the board of trustees of
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744:List of former employees of Goldman Sachs
389:. Bloomberg Business Week. Archived from
262:. Bloomberg Business Week. Archived from
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211:Viniar is married and has four children.
127:where he has remained since. He became a
387:"Goldman Sachs Group Inc.: David Viniar"
775:The Bronx High School of Science alumni
260:"Goldman Sachs Group Inc: David Viniar"
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123:After receiving the MBA, Viniar joined
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362:"Goldman's Longtime C.F.O. to Retire"
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360:Lattman, Peter (18 September 2012).
197:Children's Aid and Family Services
150:, the mobile payments firm run by
14:
179:Viniar testified in front of the
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288:. Union College. August 11, 2005
106:The Bronx High School of Science
800:Union College (New York) alumni
201:Financial Accounting Foundation
795:Harvard Business School alumni
651:Goldman Sachs Capital Partners
307:Union College accolade article
158:"25 standard deviations" quote
1:
729:Goldman Sachs controversies
242:, Union College, 2005-08-11
29:1955 (age 68–69)
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805:21st-century American Jews
785:Directors of Goldman Sachs
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734:Goldman Sachs Foundation
780:Jewish American bankers
719:10,000 Small Businesses
672:Commodities Corporation
162:On 13 August 2007, The
114:Harvard Business School
110:Union College, New York
749:Symphony Communication
682:NN Investment Partners
328:on September 29, 2008.
665:Historical components
488:Profile of Viniar at
393:on September 30, 2012
266:on September 30, 2012
656:Petershill Partners
591:(Chairman and CEO)
583:Lloyd C. Blankfein
474:2010-05-01 at the
366:The New York Times
104:A 1972 alumnus of
49:Harvard University
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585:(Senior Chairman)
341:Missing or empty
133:managing director
90:David Alan Viniar
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589:David M. Solomon
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606:David A. Viniar
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724:10,000 Women
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549:Samuel Sachs
490:Businessweek
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397:21 September
395:. Retrieved
391:the original
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369:. Retrieved
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343:|title=
326:the original
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290:. Retrieved
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270:21 September
268:. Retrieved
264:the original
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244:, retrieved
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187:Affiliations
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148:Square, Inc.
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770:1955 births
626:Mark Carney
152:Jack Dorsey
131:in 1992, a
764:Categories
569:executives
246:2009-03-24
215:References
691:Buildings
644:Divisions
611:Gary Cohn
334:cite news
169:Normality
120:in 1980.
100:Biography
739:GreenSky
537:Founders
472:Archived
292:15 April
199:and the
80:Children
62:Employer
576:Current
567:Notable
129:partner
712:Others
599:Former
319:Forbes
207:Family
72:Spouse
54:M.B.A.
75:Susan
399:2014
373:2012
347:help
294:2011
272:2014
43:B.A.
26:Born
118:MBA
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336:}}
332:{{
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