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So when we're really addressing issues like poverty, you can't do that without addressing the real driver of some of those, which is stable homes, families. So that's why to me those issues are important. They're not frivolous. They're critical economic issues. ↗
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. ↗
There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk. ↗
