would you rather be the best in academia or the best in practice

[skim milk]

Like Myron Scholes who was one of the authors of the Black Scholes model for pricing derivative

Or

Like John Meriwether, the former vice-chairman and head of bond trading at Salomon Brothers

 

[JLGatsby]

There is not much money in the "theory" business. Leave it to the lay-a-bouts to rule academia.

If what is taught in academia doesn't work best in actual practice, it's incorrect. The doers create what is and isn't correct by trial and error.

 

[montanafan]

My practice is academia. Sort that out.