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by citiboy
January 18th, 2024, 12:47 pm
Forum: Programming and Software Forum
Topic: Grammar-Pattern Programmers: Is Over-Abstraction Delivering Projects Faster Or Slower?
Replies: 187
Views: 82597

Re: Grammar-Pattern Programmers: Is Over-Abstraction Delivering Projects Faster Or Slower?

Prior to 1989, West Berlin was in East Germany. How would an OOP developer model this relation? A dynamic structure is needed for modelling things that can change, and you would need a time dimension to model relationships that may change in time. And the beauty of Python is that you have various c...
by citiboy
October 27th, 2023, 10:32 am
Forum: General Forum
Topic: GOING BACK TO SCHOOL
Replies: 13
Views: 5026

Re: GOING BACK TO SCHOOL

" Many started using AI-based tools to work better and faster " - yeah, that's called efficiency. And it's good for these people and companies. Only the increase in efficiency can increase real wages. However more is done with employing fewer people, meaning the economy needs to find a mea...
by citiboy
October 26th, 2023, 12:39 pm
Forum: General Forum
Topic: GOING BACK TO SCHOOL
Replies: 13
Views: 5026

Re: GOING BACK TO SCHOOL

Just after posting this found this article in Financial Times: 
UK sets out scenario of increased joblessness and poverty due to AI by 2030
https://www.ft.com/content/fe97b4f3-72e2-4de5-8fa2-7512902d2df3
by citiboy
October 26th, 2023, 9:59 am
Forum: General Forum
Topic: GOING BACK TO SCHOOL
Replies: 13
Views: 5026

Re: GOING BACK TO SCHOOL

There is a constant pattern. Automation has been replacing jobs "from the bottom" of the pyramid, first the least skilled jobs went, then the manufacturing, then the lowest level clerical jobs etc). The AI is aiming at the next level of the pyramid, for middle skilled jobs, creative jobs e...
by citiboy
October 16th, 2023, 9:09 am
Forum: General Forum
Topic: Repo Accrual Accounting + Pull 2 Par
Replies: 1
Views: 2887

Re: Repo Accrual Accounting + Pull 2 Par

Start with your accounting policy and let them explain the accounting in detail. This may either be a result of prescriptive accounting rules (in what case you have to live with it) or an artifact of some accounting and implementation choices (in what case this can be corrected). 
by citiboy
October 12th, 2023, 1:33 pm
Forum: General Forum
Topic: Pricing a callable bond in a minimal way
Replies: 2
Views: 2841

Re: Pricing a callable bond in a minimal way

The problem in your calculation is that you assume that if a bond is called before the coupon payment, the coupon will not be paid (and this is the main source of difference in NPV). In reality the coupon will accrue and the accrued value will be paid when the bond is called. Add the accrued coupon ...
by citiboy
September 28th, 2023, 9:03 am
Forum: General Forum
Topic: Fine wine assets and fund's
Replies: 28
Views: 35772

Re: Fine wine assets and fund's

Hi,Dear all, I'm highly interested by anything written about fine wine as an asset. Also if anyone has a view on creating a UCITS fine wine fund ?Many thanks The problem with UCITS (regulated mutual funds for those outside Europe) is the lack of liquidity of the underlying. By creating a UCITS you ...
by citiboy
March 15th, 2023, 2:26 pm
Forum: General Forum
Topic: Why couldn't SVB repo out the treasuries?
Replies: 9
Views: 5228

Why couldn't SVB repo out the treasuries?

Why couldn't SVB borrow against the treasuries they had, and had to sell them instead, crystalizing the MtM loss? What was the limitation they faced?
by citiboy
December 9th, 2020, 8:45 am
Forum: Brainteaser Forum
Topic: Airplane Passengers
Replies: 18
Views: 185332

Re: Airplane Passengers

I believe the answer is 1/100 Reasoning:  The first person will take a random seat which will not be the seat allocated to the last person with probability 99/100 The second person will take a random seat out of 99 remaining  which will not be the seat allocated to the last person with probability ...
by citiboy
July 12th, 2018, 1:16 pm
Forum: General Forum
Topic: Should You Pay More Than Assets Less Liabilities For A Company?
Replies: 8
Views: 2409

Re: Should You Pay More Than Assets Less Liabilities For A Company?

Book value doesn't represent market value various reasons. For example property, plant and equipment are carried at historical costs whereas the market value of land and buildings might have appreciated, cash dividends reduce book value but they constitute a value for the shareholder, growth opportu...
by citiboy
July 12th, 2018, 12:41 pm
Forum: General Forum
Topic: 50 -50 partnerships
Replies: 2
Views: 1544

Re: 50 -50 partnerships

Joint ventures are usually accounted for using equity method (there are some exceptions under IFRS and US GAAP, please check).  Also if a shareholder owns between 20% and 50%, but doesn't satisfy "significant influence" criteria, the equity method can not used, so it is an important criter...
by citiboy
July 31st, 2017, 9:02 am
Forum: General Forum
Topic: Offers Of BG/SBLC and Non Recourse Loan.
Replies: 3
Views: 1020

Re: Offers Of BG/SBLC and Non Recourse Loan.

The only catch is you need to provide Bank Guarantee /Standby Letter of Credit. If you default on the loan, guess who will the bank who issued this instrument be after ;)
by citiboy
June 27th, 2017, 1:13 pm
Forum: Trading Forum
Topic: Implementing put protection - theory
Replies: 2
Views: 3571

Re: Implementing put protection - theory

This book (The second leg down) provides a lot of strategies that may be of interest to you (how to roll over without loosing too much value, how to profit from re-pricing and so on). Interesting read.
by citiboy
June 27th, 2017, 8:50 am
Forum: General Forum
Topic: Monte Carlo returns
Replies: 1
Views: 1031

Re: Monte Carlo returns

I assume it's a portfolio of equities, right? Let's make sure the portfolio does not contain nonlinear effects.
What are the graphs showing? Return or portfolio value?
How many paths are you simulating?
Could you attach the graphs?
by citiboy
April 14th, 2011, 8:34 am
Forum: Book And Research Paper Forum
Topic: Hull's Solution Manual for FRM?
Replies: 8
Views: 28918

Hull's Solution Manual for FRM?

<t>Kaplan notes should be enough to pass - I agree, it worked in my case. I bought all those books and treated them as a reference but the amount of material is huge and you may simply not have time to read everything plus the fact that you already know a lot means you should start from the notes an...