The last 6 weeks have certainly been a painful experience for cryptocurrency enthusiasts and investors, with Bitcoin crashing a full 35% since May 15th (and, at the time of writing, a staggering 71% from its all-time high from mid-November 2021). Given Bitcoin’s...
When pricing options, one must always be careful to model the implied volatility of the instrument appropriately. This is not actually particularly easy, because implied volatility is, by definition, not observable in the market. It is essentially a value that, when...
There are many reasons to start up a website. Most of them are not serious. Plenty of people have started up their own blogs, but few of them last longer than 6 months. Almost none last more than a year. As it happens, very, very few people have the discipline and the...
Whenever anyone mentions “Russia”, the mental image that springs into most people’s heads tends to be rather mysterious and perhaps even a little frightening. Most people still associate Russia with the Cold War, the Hell-Times of Communism, and the...
When future economic (and regular) historians will look back over the past century of financial crashes and panics, one wonders what they will conclude. They may argue that we sowed the seeds of our own fiscal and financial destruction. If so, they will certainly be...
Most of us like to think that our jobs are simple and straightforward. We get a specific task by our managers or bosses. And we then set out to accomplish that task to the best of our abilities. If we do a good job, our bosses reward us. If we do a bad job, they...
Recent Comments