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"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!"
Author Name
Personal Development
"He looked at the silver pocketknife in his hand. An idea came to him " possibly the stupidest, craziest idea he'd had since he thought, Hey, I'll get Percy to swim in the River Styx! He'll love me for that!"
Author Name
Personal Development
"They're trying to beat out this movie, the Ring, which is a similar idea. Our movie is about a website you visit and die in three days. Their movie is about a videotape you watch - and die in three days."
Author Name
Personal Development
"If somebody came up with a really good idea, everyone would back it. Especially when we did the show, we had a real dedication that, if you were in somebody else's scene, everyone worked their hardest to make that scene good."
Author Name
Personal Development
"Unless you close your door to other ideas, you will never remain idealess!"
Author Name
Personal Development
"Of the 25 songs we've recorded there were 24 that we wanted to have on an album. That wouldn't have worked. So when one of our wise managers suggested the idea of considering two different album, it cleared the way for us."
Author Name
Personal Development
"Ideas are the invisible Gods of our universe!"
Author Name
Personal Development
"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!"
Author Name
Personal Development
"So, I was just a young guy, maybe with an idea, and Cecil Taylor, himself a rebel, would take a chance on a guy like me. It turned out to be a very symbiotic partnership. I learned a lot from him."
Author Name
Personal Development
"The real battlefield is the realm of ideas."
Author Name
Personal Development
More
"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."
Time
"I think VAR is a very healthy development within the industry."
Development
"Our starting point then was trying to find a way to incorporate mean reversion into the HoLee model."
Trying
"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."
First
"In the interest rate area, traders have for a long time used a version of what is known as Black's model for European bond options; another version of the same model for caps and floors; and yet another version of the same model for European swap options."
Time
"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."
People
"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."
Years
"Our tree is actually a tree of the short-term interest rate. The average direction in which the short-term interest rate moves depends on the level of the rate. When the rate is very high, that direction is downward; when the rate is very low, it is upward."
Direction
"Our research led on to other things, such as the fact that exchange rates are not lognormally distributed."
Fact
"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."
Extreme
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