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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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"I truly, truly believe that I was going in that direction and all of a sudden fate took me and put me here. It's like something else has other plans for me."
"We are not retreating - we are advancing in another direction."
"My last two records that I made were both quite pointed in one direction and I think I do my best stuff when it's all over the map, when there's a couple traditional things, a couple pretty rocking things."
"And, of course, method is very important as is a high-quality specialist (trainer) working with you to keep you going in the right direction for your improvement and to help create results."
"So we take a lot of pride in that. It's really on us to turn this thing around. I think this last month we've done just that. We've pointed ourself in the direction that we want to be, and I think we're starting to head towards that. Right now we're in a nice rhythm."
"Once the herd starts moving in one direction, it's very hard to turn it, even slightly."
"You have to listen to what resonates within your own gut. You find your direction there. Your voice comes out."
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."
"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."
"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."
"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."
"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."
"Our research led on to other things, such as the fact that exchange rates are not lognormally distributed."
"We started giving presentations at practitioner conferences in 1986, and since then all of our derivatives research has been stimulated by contact with practitioners."
"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."
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