"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, Interest

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"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."

Exlpore more Direction quotes

"The great thing about redirecting is that if you miss the mark and miss your goal, you can simply change course. When you are heading down a certain path, and feel like you may be heading the wrong way, stop, turn back, redirect, or ask for directions."

Susan C. Young, American Author

Direction, Inspirational, Power, Wisdom, Truth

"You can't look back - you just have to put the past behind you, and find something better in your future."

Jodi Picoult, American Novelist

Direction, Past, Future, Mindset, Change

"When we set up a goal for ourselves our body start to mobilize all its strength in one direction."

Sunday Adelaja, Nigerian Author

Direction, Goal, Mobilization, Strength

"You need to answer questions on where, when and what to do."

Sunday Adelaja, Nigerian Author

Direction, Questions, Answers, Purpose

"There's nothing worse than having everybody thinking alike, talking alike and having the same direction in mind. It gets stale that way."

Alex Van Halen, American Musician

Direction, Mind, Nothing, Talking

"You can't expect to go both ways when you're driving on a one-way street."

Benjamin Alire Saenz, American Poet

Direction, Choice, Limit, Logic

"Don't go in the opposite direction, locate your calling."

Sunday Adelaja, Nigerian Author

Direction, Calling, Focus, Purpose

"Painful as it may be, a significant emotional event can be the catalyst for choosing a direction that serves us - and those around us - more effectively. Look for the learning."

Louisa May Alcott, American Novelist

Direction, Learning, May

"And so, despite the complex web of paths, waterfalls, cliffs, as a hiker wanders downhill, drainages merge, faint, abstract paths coalesce, thicken, until there is one path " the one, natural, trodden way."

Aspen Matis, American Author

Direction, Journey, Clarity, Nature

"In practical terms the South Pointing Chariot was a simple direction finder. It could have been made to point in any direction - north, south, east or west."

Kit Williams, British Author

Direction,

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."

Years

"Our starting point then was trying to find a way to incorporate mean reversion into the HoLee model."

Trying

"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."

Extreme

"We started giving presentations at practitioner conferences in 1986, and since then all of our derivatives research has been stimulated by contact with practitioners."

Giving

"The problem with interest rates are that you are not modeling a single number, you are modeling a whole term structure, so it is a sort of different type of problem."

Interest

"I guess any simple idea that is really good will catch on quickly."

Idea

"There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk."

Risk

"Our research led on to other things, such as the fact that exchange rates are not lognormally distributed."

Fact

"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

"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