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by DavidJN
September 17th, 2022, 3:24 pm
Forum: Politics Forum
Topic: What is Trussonomics?
Replies: 149
Views: 26895

Re: What is Trussonomics?

The content of Trussonomics was clearly exposed during the leadership campaign - the solution to every conceivable economic or social problem is another tax cut for the well-heeled. The lady's controversial views about the working ethic of the lower classes are already on record. 
by DavidJN
September 17th, 2022, 3:15 pm
Forum: General Forum
Topic: Combining volatility with time
Replies: 12
Views: 3126

Re: Combining volatility with time

Um… don’t we just call that (Sigma*Root Time) in finance? 
by DavidJN
September 3rd, 2022, 3:37 pm
Forum: Off Topic
Topic: Elsevier Publishing Boycott Gathers Steam
Replies: 166
Views: 27337

Re: Elsevier Publishing Boycott Gathers Steam

Wasn’t it the colourful entrepreneur and shockingly poor swimmer Robert Maxwell who decided that received wisdom should become an expensive commodity? You know, the guy whose daughter now sits in jail for recruiting virgins (comparison is odious!) for vulgarians like Epstein, Trump and your similarl...
by DavidJN
September 2nd, 2022, 1:41 pm
Forum: Off Topic
Topic: Russia земля борца самбо
Replies: 701
Views: 86568

Re: Russia земля борца самбо

And I read in the WAPO that at least six Russian oil executives have died "accidently" of late. I also read that thousands of people are being put in jail over their opposition to Putin's aggression against his neighbour. 
by DavidJN
September 2nd, 2022, 1:01 am
Forum: Off Topic
Topic: Russia земля борца самбо
Replies: 701
Views: 86568

Re: Russia земля борца самбо

Russian oil executive dies in fall from Moscow hospital window Ravil Maganov was chair of Russia’s biggest private oil company, Lukoil, which has criticised Ukraine invasion I'll spare the specific reference because Paul might not approve of the liberal source!  You can't make this stuff up!
by DavidJN
September 2nd, 2022, 12:55 am
Forum: Trading Forum
Topic: Best practice for trading strategy documentation
Replies: 1
Views: 5309

Re: Best practice for trading strategy documentation

Do your traders have annual limit letters? We are probably talking here about “outside the box” or significant size trades that require special approval? You limit letters should make reference to required trade documentation and the mechanisms for seeking out of the box approvals.   I remember bein...
by DavidJN
September 1st, 2022, 3:48 pm
Forum: Off Topic
Topic: Stupid question of the day
Replies: 3181
Views: 400611

Re: Stupid question of the day

The selfie poster is a negative externality imposed on the more enlightened technology user, raising the price everyone pays for selfie-clogged broadband capacity.   But there is yet another level of externality to this sad situation… the bands playing the live music festivals profit from their popu...
by DavidJN
September 1st, 2022, 3:32 pm
Forum: General Forum
Topic: Holiday P&L
Replies: 3
Views: 3765

Re: Holiday P&L

This is a perennial problem everyone with international operations faces - noise that eventually comes out in the wash.. A long time ago I shared a plane ride with an AIG higherup who told me they managed the problem by having a single profit centre. I didn’t see how that necessarily helped.   As a ...
by DavidJN
August 25th, 2022, 6:44 pm
Forum: Economics Forum
Topic: Proof of the invisible
Replies: 17
Views: 8821

Re: Proof of the invisible

An actual market is a heuristic? That’s a bit of an ivory tower posture, no? Are there irrational actors in chemical and physical processes? Irrationality is a lot more than the outcome of a random number generator.
by DavidJN
August 22nd, 2022, 2:34 pm
Forum: Technical Forum
Topic: Discrete Hedging
Replies: 3
Views: 3328

Re: Discrete Hedging

There is a large literature on this. The math can get messy trying to change more than one thing at a time.   Imho a more flexible and effective way to deep learn delta hedging is to conduct experiments using simulation techniques where the hedging interval is a parameter. Simulate price paths for y...
by DavidJN
August 21st, 2022, 1:48 pm
Forum: Economics Forum
Topic: Proof of the invisible
Replies: 17
Views: 8821

Re: Proof of the invisible

Is it fair to suggest that an exchange is a convenient and presumably efficient formalization of the invisible hand? If so, what is the "in the head" of an exchange? Facilitation of trade through price discovery, finding that mythical nirvana called equilibrium by equating supply and deman...
by DavidJN
August 18th, 2022, 4:29 am
Forum: Economics Forum
Topic: Proof of the invisible
Replies: 17
Views: 8821

Re: Proof of the invisible

If for fun you want to go the opposite direction from math and read a satirical poem that influenced the laissez-faire, check out The Fable of The Bees: or, Private Vices, Publick Benefits (1714), by Bernard Mandeville, first published anonymously in 1705. Who knew bees would cause such a stir?
by DavidJN
August 17th, 2022, 6:47 pm
Forum: Economics Forum
Topic: Proof of the invisible
Replies: 17
Views: 8821

Re: Proof of the invisible

Pareto Optimality obtains in a situation where an economic change can be effected that raises the welfare of at least one person without reducing that of anyone else. Because that is a very, very rare thing (externalities abound), it has been more broadly interpreted to mean that "winners"...
by DavidJN
August 17th, 2022, 6:33 pm
Forum: Politics Forum
Topic: Does the EU have Borderline Personality Disorder?
Replies: 30
Views: 14648

Re: Does the EU have Borderline Personality Disorder?

Monty Python only reactivates when John Cleese needs to pay for his next divorce. His words. 
by DavidJN
August 17th, 2022, 6:28 pm
Forum: Economics Forum
Topic: Proof of the invisible
Replies: 17
Views: 8821

Re: Proof of the invisible

Former Bank of England Governor Mervyn King describes (and repeatedly gently pokes fun at) the “grand auction” proof of the optimality of capitalist resource allocation (the Arrow, Debreu stuff) in his 2012 book The End of Alchemy . It is likely by some margin the least convincing economic "pro...