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I just remember a turbulence workshop where some people presented a Principal Orthogonal Decomposition of atmospheric data and waxed lyrical about it. "POD modes" are a great way to reduce the hell that is fluid dynamics to a finite-dimensional system of equations, but if you impose the POD modes you obtain for describing past history onto a model to try to predict future behaviour you cannot predict deviations from past history...

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Fri Dec 10th, 2010 at 04:11:45 AM EST
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