This post is about the Black-Litterman (BL) model for asset allocation and the basis of my talk at the Dublin Data Science Meet-up. The original BL paper (Black and Litterman (1991)) is over 30 years old and builds on the ideas of modern portfolio theory by Harry Markowitz (Markowitz (1952)). A good introduction to the BL model is (Idzorek (2005)) or (Maggiar (2009)).
I am not sure how much the model is used by investment professionals, as many of the underlying assumptions may not hold true in the real world.