"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

"If you lead me astray, then my wanderings will bring me to my destination."

Michael Bassey Johnson, Nigerian Philosopher

Direction, Journey, Destiny, Mistake, Learning

"Look ahead, because life is before you, not behind you, or else you stumble!"

Mehmet Murat ildan, Turkish Philosopher

Direction, Future, Today, Truth, Power

"Aimless life leads to depression."

Sunday Adelaja, Nigerian Author

Direction, AimlessLife, Depression, Purpose

"In order to answer the question "Where am I going?" you must possess decisiveness."

Sunday Adelaja, Nigerian Author

Direction, Decisiveness, Purpose, Vision

"On one hand, to be able to go from one direction in the sky to study such an object to another direction to study another object, and on the other hand to be able to maintain accurately the position in space."

Claude Nicollier, American Astronaut

Direction, Sky, Space, Study

"If the goal is unknown, then abuse is inevitable."

Sunday Adelaja, Nigerian Author

Direction, Goal, Unknown, Abuse

"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

"The knowledge of "Where am I going?" sometimes depends on the faithfulness in little things."

Sunday Adelaja, Nigerian Author

Direction, Faithfulness, Purpose, Vision

"We must be focused on the goal that God has revealed to us."

Sunday Adelaja, Nigerian Author

Direction, Focus, GoalSetting, Vision, Faith

"Do not pay attention to difficulties and life's troubles, you only need to believe."

Sunday Adelaja, Nigerian Author

Direction, Purpose, Life, Clarity

Explore more quotes by John Hull

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

Idea

"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

"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

"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

"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."

Difference

"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 real challenge was to model all the interest rates simultaneously, so you could value something that depended not only on the three-month interest rate, but on other interest rates as well."

Challenge

"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