Writer and Professor Emeritus of Financial Engineering at Columbia University
BOOK
Brief Hours and Weeks: My Life as a Capetonian
BOOK
Models Behaving Badly
BOOK
The Volatility Smile
BOOK
My Life as a Quant
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Why Is This Interesting? – The Tetragrammaton Edition
A single name–Bjork or Madonna–is grand. A single name with its own name is even grander.
Emanuel Derman on X
From a letter From NZ to the London Review of Books:
“The neoliberal transformation of our society – ushered in by a so-called Labour government in the late 1980s – redefined university education as a ‘private good’ for which students should be expected to pay.
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1/n
Because of the substantial debt it typically entailed, many parents came to see such an education as nothing more than a path to financially rewarding employment for children who now saw themselves as entitled consumers.
2/3
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At the same time, successive governments pared back the state contribution to the cost of universities, rendering them increasingly dependent on the fees extracted from overseas students, most of whom wanted employment-oriented study.”
3/3 EOF
The sports world will dump a trained player who plays badly or move him to the minor leagues The movie producers will do similarly with a former star. But investors love it when a star loses billions of dollars and has to be saved. They will give him or her more. Go figure
followers dropping like flies. doing something right
“. “Downtown was another world then,” Ed says. “Everyone was an artist. Everyone was poor. Everyone was young, until they weren’t.”
Late Fame review: Poetic drama anchored by excellent Willem Dafoe turn
A low-key, often hypnotic character study, starring Willem Dafoe as an aging poet who meets a group of young fans who want to make him famous.
www.rogerebert.com