Is it Time to Rethink Sovereign Debt?

Hypothetical News: “…Traders around the world today began to sell all of the USA’s  military assets after a devastating terrorist attack removed confidence in the nation’s ability to protect itself.  In other news, a patient who may become terminally ill in the next few weeks has had all treatment ceased as doctors do not wish to invest any more medical-capital into a patient who only has a sixty percent chance of survival…” On the face…

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The Risks and Opportunities of Unforeseen ‘Black swan’ Market Events

Guest article written for AllAboutAlpha.com – the official publication of the  Chartered Alternative Investment Analyst (CAIA) Association originally posted at: http://allaboutalpha.com/blog/2011/06/27/the-risks-and-opportunities-of-unforeseen-black-swan-market-events/ The precipitous market-collapse which began the 2007 financial crisis was considered to be a ‘once in a thousand year’ event.  Similar ‘not in our lifetime’ rarity was also assigned to the events which followed including the failures of large financial institutions, global contagion, market interventions and (more recently) potential sovereign defaults throughout europe.  All…

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The Role of Film in Society

In this exclusive interview we talk to Tom Sherak, President of the Academy of Motion Picture Arts and Sciences (best known for their Academy Awards, also referred to as “Oscars”). We look at the role of film in society and how it has grown to become such a ubiquitous art. We discuss what makes a ‘great’ movie, some history of film, the economics and future of the industry, and how the internet and other technologies such as CGI and 3D have affected the movie business.

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Blowing bubbles and capturing them in real time

In a recent paper entitled, “How to Detect an Asset Bubble” Jarrow, Kchia and Protter state that, “…After the 2007 credit crisis, Financial bubbles have once again emerged as a topic of current concern. An open problem is to determine in real time whether or not a given asset’s price process exhibits a bubble. Due to recent progress in the characterization of asset price bubbles using the arbitrage-free martingale pricing technology, we are able to…

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