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by worow
July 21st, 2004, 7:57 am
Forum: Brainteaser Forum
Topic: four boxes
Replies: 10
Views: 185880

four boxes

oops 25%
by worow
July 21st, 2004, 7:57 am
Forum: Brainteaser Forum
Topic: four boxes
Replies: 10
Views: 185880

four boxes

<t>you could also take a combinatorial approach:There are 4X3X2X1 = 24 possible arrangements of the boxes1X3X2X1 = 6 arrangements where the box is in the first position 3X1X2X1 = 6 arrangements where the box is in the second positionwhen the box is in the third position and you can win buy waiting t...
by worow
July 19th, 2004, 10:31 am
Forum: Careers Forum
Topic: .
Replies: 8
Views: 183081

.

Guess that short Europe long the US trade is safe for a while
by worow
July 16th, 2004, 7:15 am
Forum: Technical Forum
Topic: Implied Divs versus Implied Borrow from US Listed Equity Option Markets
Replies: 4
Views: 182664

Implied Divs versus Implied Borrow from US Listed Equity Option Markets

Get box prices from the SPU's use that implied borrow (I'm guessing you mean funding rather that short stock) to get the implied dividend. Do it over several levels can exercise premiums can introduce errors.
by worow
June 24th, 2004, 11:06 am
Forum: Careers Forum
Topic: US School Rankings
Replies: 14
Views: 187673

US School Rankings

US News and World Report publishes and annual ranking, but I've never seen MFE programs in the lists
by worow
June 24th, 2004, 4:22 am
Forum: Off Topic
Topic: Hitchens goes after Michael Moore: Unfairenheit 9/11 - The Lies of Michael Moore
Replies: 83
Views: 192413

Hitchens goes after Michael Moore: Unfairenheit 9/11 - The Lies of Michael Moore

The appearance aspect is why I thought it was a funny adjective.
by worow
June 19th, 2004, 5:37 am
Forum: Careers Forum
Topic: Merrill Lynch
Replies: 5
Views: 191470

Merrill Lynch

<t>Interviewed with MER and had a disagreement about the dependance of a five year semi-annually reseting cliquet on five year skew. None the less, my brief glimpse left me with a positive impression of thier operation. Collector- heartening to kow that some one of your calibre doesn't always get th...
by worow
June 17th, 2004, 10:07 am
Forum: Technical Forum
Topic: Target Redemption Note(Equity version)
Replies: 2
Views: 188125

Target Redemption Note(Equity version)

<t>Random rates has an effect on the price, but it's generally smaller than you'd think. The variance of the equity is usually much more dominant than the variance of the interest rate. Correlation between the two is another issue all together. Generally, equities are more appealing as rates fall - ...
by worow
May 4th, 2004, 11:18 am
Forum: General Forum
Topic: Put Option Paradox
Replies: 13
Views: 191302

Put Option Paradox

how so? If the market goes down to maintain your replication you have to sell more shares. Sounds like your replicating a short put to me.
by worow
May 4th, 2004, 6:00 am
Forum: General Forum
Topic: Put Option Paradox
Replies: 13
Views: 191302

Put Option Paradox

it's not a paradox. When you are short shares and long bonds you are replicating a short put. In that case you are earning all your theta when the market remains unchanged. The value of the put is actually decreasing.
by worow
April 28th, 2004, 10:21 am
Forum: Careers Forum
Topic: Trading or Risk Management?
Replies: 4
Views: 190171

Trading or Risk Management?

would you rather be the goalie or the striker?
by worow
April 28th, 2004, 4:17 am
Forum: Careers Forum
Topic: Urgent: Internship at Fortis Bank in Brussels or CDC Ixis Asset Mgmt in Paris
Replies: 4
Views: 189919

Urgent: Internship at Fortis Bank in Brussels or CDC Ixis Asset Mgmt in Paris

Generally, the closer to the front office the better. I don't know anything about the respective teams though.
by worow
March 12th, 2004, 12:00 pm
Forum: Careers Forum
Topic: KCL, Chicago and Cass: which to choose?
Replies: 5
Views: 190064

KCL, Chicago and Cass: which to choose?

Chicago is very tough, but the effort will be worth it. The city also has a huge QOL edge over London.
by worow
February 23rd, 2004, 9:23 am
Forum: General Forum
Topic: Portfolio Insurance
Replies: 29
Views: 193926

Portfolio Insurance

Convex -> embedded options. These things are going to be the next black eye for derivatives.