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GPUs, Monte Carlo Simulation and Kooderive with Professor Mark Joshi - February 25-27th, London, UK - Further Information

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The Aleph Blog wrote a new blog post titled Risk Tolerance — The Ability to Deal with Loss
Photo Credit: 401(K) 2012No one knows their financial “risk tolerance” outside of the context of losing money.  Part of the trouble is that risk and return are often described in the same breath as if they are inseparable, when they are more weakly related than most think, and certainly not linear.Surveys, no matter how well-intentioned or -designed do not typically grasp the asymmetry of gain and loss.  People feel losses much more acutely than gains, and are far more likely to change their behavior after losses.  Can’t tell you how many times I have had people say to me,...
2 hours ago
The Reformed Broker wrote a new blog post titled About my new column at Fortune Magazine
Two years ago I stopped contributing to all outside publications and chose to focus whatever time I had to write solely on The Reformed Broker. It’s worked out nicely and the site continues to build record page views, unique visitors, etc. And then I got the chance at my dream columnist gig – with Fortune......
8 hours ago
Understanding Uncertainty wrote a new blog post titled Is prostitution really worth £5.7 billion a year?
The EU has demanded rapid payment of £1.7 billion from the UK because our economy has done better than predicted, and some of this is due to the prostitution market now being considered as part of our National Accounts and contributing an extra £5.3 billion to GDP at 2009 prices, which is 0.35% of GDP, half that of agriculture. But is this a reasonable estimate? This £5.3 billion figure was assessed by the Office of National Statistics in May 2014 based on the following assumptions, derived from this analysis. To quote the ONS: Number of prostitutes in UK: 61,000 Average cost per visit:...
16 hours ago
Stefan Martinek wrote a new blog post titled ADX Filter | Trading Strategy (Filter Threshold & Entry)
I. Trading Strategy Developer: ADX (Average Directional Movement Index): J. Welles Wilder, Jr., Entry/Exit: Richard D. Donchian. Concept: Trend-following trading strategy based on Donchian Channels with the ADX filter. Source:  Wilder, J. W. (1978). New Concepts in … Continue
20 hours ago
Patrick Burns wrote a new blog post titled US market portrait 2014 week 43
US large cap market returns. Fine print The data are from Yahoo The S&P 500 stocks are used (as implied by S&P on 2014 January 11) that still survive with the same symbol The initial post was “Replacing market indices” The R code is in marketportrait_funs.R — you are free to use these functions however you like
24 hours ago
FINalternatives wrote a new blog post titled Rajaratnam Brother Banned Under SEC Deal
Raj Rajaratnam’s younger brother has settled insider-trading charges leveled by the Securities and Exchange Commission, just months after he was acquitted of parallel criminal charges. Rengan Rajaratnam will pay $841,243 to end the civil fraud case. He also agreed to be barred from the securities industry. read more
2 days ago
Timing Logic wrote a new blog post titled Reality Starts To Reveal Itself: Amazon Craters On Massive Loss
"The Company believes it will incur substantial losses for the foreseeable future... the rate at which such losses will be incurred will increase significantly." Not to say I told you so, but I told you so.  Amazon’s impending doom has graced this blog many times including detailed remarks about its curious business model.  If you want to actually call it that.  It’s business model is clearly unsustainable at best and a Ponzi Scheme at worst.   Additionally, when Amazon was actually profitable, it was discounting earnings of 1,500 years.  Or, if...
2 days ago
FINalternatives wrote a new blog post titled Icahn Says Taj Mahal ‘Will Almost Certainly Close’
The Trump Taj Mahal will become the fifth Atlantic City, N.J., casino to close this year, according to Carl Icahn, its largest creditor. read more
2 days ago
FINalternatives wrote a new blog post titled Ackman Sees Valeant-Allergan Bid As A Happy One
Pershing Square Asset Management chief William Ackman used a deposition by lawyers for Allergan Inc. to offer a lesson in semantics. read more
2 days ago
Robert Peston Blog wrote a new blog post titled Froth gone from UK recovery
The UK recovery has past its peak, but growth remains better than major competitors. No great surprise that UK growth has slowed a bit in the three months to September, from an annual rate of 3.2% to 3%. Growth in distribution (largely shopping), hotels and restaurants of 4.4% in the previous quarter, and 4.9% and 4.4% respectively in the preceding quarters, was looking a bit frothy. So it is not necessarily a bad thing that there appears to have been slight moderation in...
2 days ago
FINalternatives wrote a new blog post titled Soros’ Son Faces Fight For Billions In Divorce
George Soros’ oldest son and the president of his $28 billion family office has split from his wife of 22 years. read more
2 days ago
FINalternatives wrote a new blog post titled Franklin K2 Opens European Mutual Fund Of Hedge Funds
Franklin Templeton Investments has launched a European version of its mutual fund of hedge funds. read more
2 days ago
FINalternatives wrote a new blog post titled Jana Jacks Up Hertz Stake
Hertz Global Holdings has not solved its activist hedge-fund problem. read more
2 days ago
FINalternatives wrote a new blog post titled Eclectica CEO Out
The CEO of Eclectica Asset Management, which has seen more than half of its assets evaporate this year, has left the hedge fund. read more
2 days ago
Robert Peston Blog wrote a new blog post titled Sex, drugs and the EU budget
The good news is that the UK economy performed a bit better than we thought. The bad news is that the UK performed better than we thought in recent years. Because of that, Brussels thinks we owe it 2.1bn euros (£1.7bn) - having calculated that our EU budget contributions have been based on an understatement of the size of our economy. How is it that our EU subs are supposedly in arrears? Well you may recall that the Office for National...
2 days ago
The Financial Services Club wrote a new blog post titled Watch your back door first, rather than the horizons
For a long time, we have considered that there will be massive change in banking; that new entrants like Google, Amazon and Facebook will eat the banker’s lunch; and that banks are weak and easy to attack. This is completely wrong thinking however. Banks are not weak and easy to attack. They are, instead, protected and have high barriers to competitive threats. These barriers are called bank licences and are the core threshold that stops most new competition entering the banking marketplace. The bank licence not only demands high levels of capital and compliance, but rigorous audit and...
2 days ago
Wealth and Capital Markets Blog wrote a new blog post titled Utility in Capital Markets
In the aftermath of the financial crisis, the regulatory environment has undergone rapid changes and is still evolving, creating additional obligations for financial institutions, particularly in the areas of risk management, reporting and regulatory compliance. Since many of financial institutions have to make same, or similar, changes to their processes and systems due to new regulations, many of them are looking to “mutualize” the costs – an arrangement where an independent third party provides the technology and services that banks can in turn use on pay per usage basis. This is giving...
2 days ago
Quantitative Finance at arXiv wrote a new blog post titled Perturbation analysis of a nonlinear equation arising in the Schaefer-Schwartz model of interest rates. (arXiv:1410.6321v1 [q-fin.CP])
We deal with the interest rate model proposed by Schaefer and Schwartz, which models the long rate and the spread, defined as the difference between the short and the long rates. The approximate analytical formula for the bond prices suggested by the authors requires a computation of a certain constant, defined via a nonlinear equation and an integral of a solution to a system of ordinary differential equations. In this paper we use perturbation methods to compute this constant. Coefficients of its expansion are given in a closed form and can be constructed to arbitrary order. However, our...
2 days ago