#del

The real challenge was to model all the interest rates simultaneously, so you could value something that depended not only on the three-month interest rate, but on other interest rates as well. ↗

— John Hull

#could #depended #interest #model #only

While I have some regrets that this is my last opportunity to deliver a State of the State address, I appreciate and am humbled by the opportunities this great state has given me. ↗

— Jane D. Hull

#am #appreciate #deliver #given #great

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. ↗

— John Hull

#each #long #modeling #only #our time

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. ↗

— John Hull

#area #black #bond #caps #european

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. ↗

— John Hull

#different #fairly #few #first #had

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. ↗

— John Hull

#interest #modeling #number #problem #rates

We concluded that you cannot rely on delta hedging alone. It sounds simplistic to say that now, but back then, this was the sort of thing people were only just beginning to realize. ↗

— John Hull

#back #beginning #cannot #concluded #delta

Accuracy is, in every case, advantageous to beauty, and just reasoning to delicate sentiment. In vain would we exalt the one by depreciating the other. ↗

— David Hume

#advantageous #beauty #case #delicate #every

There is not to be found, in all history, any miracle attested by a sufficient number of men, of such unquestioned good sense, education and learning, as to secure us against all delusion in themselves. ↗

— David Hume

#any #delusion #education #found #good

Total ghettoization, because they were in charge of public housing, the local council, and they deliberately located people in a ghetto situation in order to ensure that they maintained control. ↗

— John Hume

#charge #control #council #deliberately #ensure