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Friday, April 20, 2012

Calculating odds and ends

-- Looking for Continuing Ed credits relevant to your Chartered Financial Analyst designation? Read my article "Fiduciary Matters."

-- Speaking of CFAs, the CFA Institute is asking "Does Quantitative Investing Have a Future?" The piece includes a link to an interesting abstract "The Quant Delusion: Financial Engineering in the Post-Lehman Dodd-Frank Landscape,"the article of which opens with:
"In 1993, the U.S. Congress cancelled the Superconducting Super Collider (SSC) Project."
I wonder: is someone now working on a book that starts with the SSC cancellation and ends with the financial crisis? Or has it already been done?

-- Since a portion of the regular readership of this blog is known to be employed in the actuarial field, here's one more link, from the (crisis-plagued) month of Nov. 2008: "Actuaries Versus Quants."

2 comments:

Anonymous said...

Thanks, Ken. I'm about to take a seriously hard exam on the Black-Scholes formula and it's countless variations. Among the assumptions: 1. stock prices do not jump to new prices and their movements are independent of previous movements. 2. there are no fees or taxes. 3. stock price changes are normally distributed. 4. volatility is known and constant 5. dividends are known and constant 6. the risk-free interest rate is known and constant. I sure hope all this studying is worth it, but sometimes I wonder. Mitch Johnson

Kenneth Silber said...

It's worth it. Few can crunch the numbers like you do.