Machine learning, data mining, artificial intelligence and other modern methods outperform "traditional" econometric methods like regression analysis, time series analysis etc in financial engineering. I really am curious to listen to your opinions about this subject.
my best regards
Michael
As the term implied "classic", it should not be taken seriously. What is old and classic are generally treated as historical approaches to problem solving or analysis. These classical methods are good tools for learning how to model. However, real practical problem solving may require more than just historical analysis, i.e. machine learning, simulation, etc.
Classic methods are key point or basic to know about the method. May exist alternative method but classical approach are useful for learning.
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