Although it hath pleased God to hasten my death by you, by whom my life should rather have been lengthened, yet can I patiently take it, that I yield God more hearty thanks for shortening my woeful days. ↗
Therefore, let us not despair, but instead, survey the position, consider carefully the action we must take, and then address ourselves to our common task in a mood of sober resolution and quiet confidence, without haste and without pause. ↗
Briefly speaking, our conclusion is that stochastic volatility does not make a huge difference as far as the pricing is concerned if you get the average volatility right. It makes a big difference as far as hedging is concerned. ↗