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A Brief History of Derivatives - Don Chance
Submitted by loner on 30 January, 2010 - 1:21pmTo start we need to go back to the Bible. In Genesis Chapter 29, believed to be about the year 1700 B.C., Jacob purchased an option costing him seven years of labor that granted him the right to marry Laban's daughter Rachel. His prospective father-in-law, however, reneged, perhaps making this not only the first derivative but the first default on a derivative.
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What did I say then?
Who Needs Hedge Funds? A Copula-Based Approach to Hedge Fund Return Replication (4 years 47 weeks ago):
"In this paper we develop and demonstrate the workings of a copula-based technique that allows th...
