"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, Reading

51

Create Your Own Wallpaper

Standard

Customized

"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."

Exlpore more First quotes

"First of all, you needed a budget to do the video. The record companies would pick and choose who got videos."

Nina Blackwood, American Celebrity

First,

"It's not all that different with the orchestra. There are orchestras that seem to be encased in dough, so that first you have to break through the normal routine, and clear out the openings."

Dietrich Fischer Dieskau, German Musician

First, Orchestras, Routine

"Well, I think that it is complicated in that the first four albums were all with Universal so they have the rights to that and therefore it is a lot easier for them to do that period."

Geoff Downes, English Musician

First, Rights

"The composition of a single melody is born out of a bit of text, perhaps the first line, but it can also be the entire strophe; it can even be the poem's overall form."

Dietrich Fischer Dieskau, German Musician

First,

"Talking about the all night concerts, I did some of the first all night concerts back in the 60's with this little harmonium, and I also had saxophone taped delays."

Terry Riley, American Composer

First, Night, Talking

"But first I want to get my master's degree at Columbia's School of International Public Affairs."

Christy Romano, American Actress

First, Public, School, Want

"Second place is just the first place loser."

Dale Earnhardt, American Celebrity

First,

"I forever felt that I've fallen right between the crack of way too young for the first generation of classic rock 'n' roll and too old to be brand-new. It's hard."

Paul Westerberg, American Musician

First, Old, Right

"Most producers I've known were writers first, and writing is a vital part of any game show. You could easily argue that the writing is the key ingredient that makes 'Jeopardy!' so great."

Randy West, American Entertainer

First, Key, Writers, Writing

"My tattoo is a phoenix. I got the first when I was 16. I hid it for years."

Ashley Scott, American Actress

First, Years

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

"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

"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

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

Trying

"I think VAR is a very healthy development within the industry."

Development

"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

"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

"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

"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