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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."
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Exlpore more Direction quotes
"The tragedy of life is when you do not know what to do with time."
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Personal Development
"Don't let the tide of life shift you away, move intentionally in the right direction."
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Personal Development
"How to get back on the right track can be quite simple if you know what you want."
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Personal Development
"To find solace in the wrong area as it seems to be at first is to seek God for direction."
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Personal Development
"It's a rare gift, to know where you need to be, before you've been to all the places you don't need to be."
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Personal Development
"Put yourself in the driver seat by designing the best attitude possible to help you get where you need and want to go."
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Personal Development
"If you lead me astray, then my wanderings will bring me to my destination."
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Personal Development
"When we set up a goal for ourselves our body start to mobilize all its strength in one direction."
Author Name
Personal Development
"After you have made the discovery of your own significance, you would then be able to find the reason to stay alive."
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Personal Development
"Metaphysical thinking will always no doubt be a strong element in her mentality, and it is to be hoped that she will never lose her great, her sovereign powers in that direction."
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Personal Development
Explore more quotes by John Hull
"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
"I guess any simple idea that is really good will catch on quickly."
Idea
"I think VAR is a very healthy development within the industry."
Development
"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
"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
"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
"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
"When interest rates are high you want the average direction in which interest rates are moving to be downward; when interest rates are low you want the average direction to be upward."
Direction
"Our research led on to other things, such as the fact that exchange rates are not lognormally distributed."
Fact
"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
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