
The Hidden Curriculum Series | The Volatility Smile – Emanuel Derman
Behind every pricing model is a worldview. The Volatility Smile uncovers the human judgment hidden inside financial equations.
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Behind every pricing model is a worldview. The Volatility Smile uncovers the human judgment hidden inside financial equations.

This is the CFA curriculum’s blind spot—raw ambition, power, and profit. Read it if you’re playing the game to win, not just pass.

Freakonomics shows CFA candidates why asking better questions—and seeing hidden incentives—matters more than just mastering formulas.
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