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Exlpore more Idea quotes
"To move the earth like Archimedes, one needs not a lever long enough and a fulcrum on which to place it. There is an easier way: Give a genius a beautiful remote house in a green valley where he can think calmly, and he shall move the earth with ideas!"
"In the jungle of ideas, it is hard to find the true direction! The paths of the wrong ideas often seem to be very alluring!"
"An idea can change your fate in a wonderful way but you must first let the idea to touch your mind and your heart! No closed book can ever be your hero!"
"Through your ideas, you open the window of your mind and say a hello to the world."
"Ideas are the invisible Gods of our universe!"
"Create a good idea and leave it in the darkness; you will then see that people will come with the candles in their hands to find it, because just like the bad, the good has also a special scent!"
"A celibate clergy is an especially good idea, because it tends to suppress any hereditary propensity toward fanaticism."
"From the port of ideas, not only the most clever ones put out to sea and conquer the world but also the most stupid ones do this!"
"Many things about our bodies would not seem to us so filthy and obscene if we did not have the idea of nobility in our heads."
Explore more quotes by John Hull
"Alan White and I spent the next two or three years working together on this. We developed what is known a stochastic volatility model. This is a model where the volatility as well as the underlying asset price moves around in an unpredictable way."
"We concluded that you cannot rely on delta hedging alone. It sounds simplistic to say that now, but back then, this was the sort of thing people were only just beginning to realize."
"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."
"One important measurement issue concerns the fat tails problem that I mentioned earlier. VAR is concerned with extreme outcomes. If the tails of the probability distributions we are using are too thin, our VAR measures are likely to be too low."
"If each of your time steps is one week long, you are not modeling the stock price terribly well over a one-week time period, because you are saying that there are only two possible outcomes."
"Our starting point then was trying to find a way to incorporate mean reversion into the HoLee model."
"Yes, our tree has an interesting shape. The center branches reflect the shape of the zero curve. When extreme parts of the tree are reached the branching pattern changes to accommodate the mean reversion."
"The HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper."
"We started giving presentations at practitioner conferences in 1986, and since then all of our derivatives research has been stimulated by contact with practitioners."
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