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"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."
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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
"To find solace in the wrong area as it seems to be at first is to seek God for direction."
Author Name
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."
Author Name
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."
Author Name
Personal Development
"If you lead me astray, then my wanderings will bring me to my destination."
Author Name
Personal Development
"Everything you are called to do has already been prepared for you by God, He just needs your obedience."
Author Name
Personal Development
"To seek first the kingdom of God is not to forfeit divine direction."
Author Name
Personal Development
"You can't look back - you just have to put the past behind you, and find something better in your future."
Author Name
Personal Development
"The life of people who do not know their destiny becomes an infinite chain of activities that in fact do not actually mean anything for their success."
Author Name
Personal Development
"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."
Author Name
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
"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
"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
"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 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
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