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Hedging Derivative Securities

Pricing and hedging derivative securities in markets with uncertain volatilities

Submitted by cahn on 19 June, 2007 - 5:30pm

...a model for pricing and hedging derivative securities and option portfolios in an environment where the volatility is not known precisely, but is assumed instead to lie between two extreme values $ \sigma_{min} $ and $ \sigma_{max} $.... ...the "pricing" volatility is selected dynamically from the two extreme values $ \sigma_{min} $, $ \sigma_{max} $, according to the convexity of the value-function.....

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What did I say then?

Bush sets out Mideast democracy strategy

Submitted by cahn on 8 November, 2003 - 5:54am

What!??!?!?!?!!!?????????

President George W. Bush on Thursday recast the argument for America's intervention in Iraq as part of a "global democratic revolution", announcing a "new policy" which will no longer excuse or accommodate dictatorships in the Muslim world.

In a sweeping speech to the National Endowment for Democracy in Washington, Mr Bush portrayed himself as a champion of liberty setting out a "forward strategy of freedom in the Middle East".

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