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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. ↗
You have to have pace, you have to have high production values, you have to have interesting graphics, and you have to have attractive people. CNN could afford not to be so obedient to those commands, and for a long time, it wasn't. ↗
