January 2012
Intermediate to advanced
384 pages
8h 36m
English
Content preview from Tail Risk Killers: How Math, Indeterminacy, and Hubris Distort MarketsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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CHAPTER 29Are Swaps “Natural”?: Market Structure and Vietnamese Sandwiches
Some of the problems with swaps are independent of politics and policy. So it is opportune to leave swap politics aside for a time. One needs to separate the cronyism and potential wholesale corruption of political institutions by the financial entities that use swaps and the swaps themselves. The apparent corruption has done far deeper damage to modern finance than a mere political blame game that covers leniency and missteps. It leads to a common belief that credit-default and interest-rate swaps are artificial creations that fill no particular human need except greed. They are thought of as a modern equivalent of some financial plague, a blight on human history that ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.