Wednesday, July 29, 2015

Nobody Knows How Much Bonds Cost - Bloomberg View

Nobody Knows How Much Bonds Cost - Bloomberg View shows the role of intermediation:



"And it probably is. It's just that the latter skill set is better for figuring out what bonds do cost. Dealers have lots of information about order flow, market sentiment, which customers want to buy and sell which bonds, etc. They are good at price. Investors have lots of information about companies and credit and economic fundamentals. They are good at value. When they think the price is out of line with value, they trade. If they don't know the price, then they don't know how out of line it is with value, and they don't trade. "


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Tuesday, July 28, 2015

printing - "Print it later" software - Ask Ubuntu

printing - "Print it later" software - Ask Ubuntu: "Sometimes when I'm working on my laptop, I want to queue up a few documents to print later, since I'm not connected to a printer at the time."



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Wednesday, July 15, 2015

git ready » get a file from a specific revision

git ready » get a file from a specific revision: "Enter git show, which is an awesome tool for this job. This command is quite versatile and deserves several tips on what it can do, but let’s stick to the task at hand: we want to pull a file’s contents out from a specific revision. Usually the command would be done like so"



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git ready » get a file from a specific revision

git ready » get a file from a specific revision: "Enter git show, which is an awesome tool for this job. This command is quite versatile and deserves several tips on what it can do, but let’s stick to the task at hand: we want to pull a file’s contents out from a specific revision. Usually the command would be done like so"



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How to make a graph of heteroskedasticity with TikZ/PGF? - TeX - LaTeX Stack Exchange

How to make a graph of heteroskedasticity with TikZ/PGF? - TeX - LaTeX Stack Exchange: "This graphic is a typical representation of the problem of heteroskedasticity in a model of linear regression. If someone could guide me on how to do with tikz , I would be very grateful."



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Tuesday, July 14, 2015

The Bloomberg terminal: clunky, costly, addictive, ubiquitous — FT.com

The Bloomberg terminal: clunky, costly, addictive, ubiquitous — FT.com: "Moreover, rival data providers such as Thomson Reuters and Dow Jones are attempting to chip away at its incumbent advantage in instant messaging. Even banks are unhappy about shelling out small fortunes for what some wags say is a glorified chatroom, and are spooked by Bloomberg’s dominance."



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Monday, June 29, 2015

Standard Chartered: easily said — FT.com

Standard Chartered: easily said — FT.com:

"Bill Winters, new chief at Standard Chartered, has a clear mandate. Decide which of the bank’s businesses can produce high and sustainable risk-adjusted returns. Ensure there is enough good-quality capital to support them. Cull assets at the other businesses. Cut costs viciously. Play nice with regulators and politicians. Watch the stock price rise at last, and be seated to general applause."
As the FT points out, all the other banks are going through the same process.  If everyone leaves a field that is not currently profitable, this leaves an open market; if they all crowd into the currently profitable areas, the margins will shrink.

Sunday, June 14, 2015

Modeling market sentiment and pricing options by volume, open interest

Modeling market sentiment and pricing options by volume, open interest - Quantitative Finance Stack Exchange:

"Are there any empirically-proven methods/formulas for weighting IV surfaces, pricing a discount/premium in an option, and/or adjusting any of the 1st- or 2nd-order Greeks for the magnitude (volume or dollar-volume basis traded) of activity in each option contract for a market?"


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Thursday, June 11, 2015

The envelope (theorem) please: Profits, efficiency wages, and monopsony | Arindrajit Dube

The envelope (theorem) please: Profits, efficiency wages, and monopsony | Arindrajit Dube: "As Krugman points out, this is logic of the “envelope theorem.” What I want to clarify in this post is that the logic behind this argument is more general than the particular efficiency wage model Krugman works through.  Any time firms are choosing wages to balance various concerns—as opposed to simply accepting a “market wage” as a constraint—the logic of the envelope theorem applies.  What’s more, two types of empirically relevant models of the labor market—monopsonistic competition and efficiency wages—look pretty similar in this regard, and can be thought of as special cases of a more general model."



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