Black-Litterman Portfolio Allocation and Bayesian Analysis – Part 1: Introduction

I have thought about doing an introductory post on Bayesian Analysis for a a while now. There were several real-world applications that I considered – finance, machine-learning, election-forecasting etc. Among these, the topic I can deal with most thoroughly, without inadvertently misleading the reader (or myself!), is probably finance. And one of the most accessible areas of […]