“If you’re so rich, how come you’re not smart?”
Fischer Black’s seminal work included the Black-Scholes option pricing model, for which the Nobel Prize was awarded to Myron Scholes shortly after his untimely death in 1995. Black’s incisive and unconventional assessment of standard economic theories has contributed invaluable research to the financial world.
His innovative work encountered some initial resistance. It was his persistence however, in the face of this resistance, that led to his groundbreaking research in the field of economics and social science, and has positioned him in history as one of the most brilliant economists and revolutionary thinkers of his generation.