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Best way to remember put-call parity

I learned the put and call parity a couple of times in my life, and recently I got a training and when talking about put-call parity, I knew what we were talking about, but I did not immediately remembered it. Why? Because I learned it the wrong way. What I learned was that put-call parity is: c(t) + sthg = p(t) + sthg , where sthg is the underlying in one case and the strike in the other. The problem is to remember which is what. Is it c(t) + S = p(t) + K or c(t) + K = […]

My recommended CFA exam study schedule

CFA is really hard to get. What makes me laugh is to read on forum how easy it is to get prepared for it (2 months look like being overtime to many people). Well in the end, people writing these posts might be very smart, but only around 30% manage to pass level I and merely 50% for level II and III (knowing that these people have already successfully passed level I, ie. they do know it’s not a piece of cake at all => population is not the same => 50% pass-rate cannot be compared directly to 35% passrate […]

PRM vs. FRM – why I chose PRM

As you might now, I am undergoing the CFA examination. CFA gives you an incredible indepth transversal knowledge of the finance area and I am grateful for that. In the mean time, I’m quite a techie guy => looking for advanced quantitative stuff as well. I strongly believe an advanced quantitative education is a strong complement to CFA designation. Being interested by growing area of risk management, I had a look at possible credible designation available on the market. Naturally I stumbled upon FRM for Financial Risk Manager (http://www.garp.com/frmexam/ from GARP). After digging a little bit, I found that another […]

Put files/folders out of svn revisionning

WARNING: below information work for data that is not yet under versionning control (ie. that appears with ‘?’ prefix when running ‘svn status’) Unfortunately it looks like it’s not possible to ignore a file that’s already under versionning => move its content into a file that won’t get modified, unversion your file and flag it to be ignored as explained below. If you have some file or folders that you do not want svn to track them, you need to set “ignore” property as explained below. Let’s say we have the following structure: go to parent folder of the item […]

cfa cbok: summary vs. conclusion

I am preparing CFA level I, and I must admit I’m pretty impressed by the amount of required knowledge. It’s indepth knowledge on almost all key fields in finance (corporate finance, market finance, economics, statistics/econometrics… including ethics!), well you’re not asked to have a phd in those domains, but indepth mastering is still required (surface knowledge won’t do it given the amount of data in each domain). By preparing just level one, you’re sure to get enough background to speak with specialist on each domain. For this, a big thank you to CFA (personnaly what I share most, is the […]

Qu’ont en commun Madoff, le CFA, la confiance et les marchés financiers ?

Le scandale Madoff Le monde des hedge funds vient d’être tout simplement secoués par le scandale Madoff, un gigantesque système pyramidal touchant plus de 50 milliards de dollars. Concernant cette affaire Madoff, quel est l’élément gênant ? Une fraude pour détourner de l’argent ? Non, il n’y a pas d’argent détourné, après tout ceux qui ont pu retirer leur billes à temps en sont les grands gagnants. Les pertes réalisées par Madoff ? Non, dans le contexte de crise sans précédent des marchés financiers, il est tout à fait compréhensible que le fonds géré par Madoff ait également été atteint […]

Trac: set your own logo

To set your own logo on your Trac installation: edit your “conf/trac.ini” file look for header_logo entry and set it to “site/<path_to_your_logo>” save your changes to trac.ini now place your logo into correct place: “site/” is in fact linked to “/htdocs” folder => your logo must be located at /htdocs/<path_to_your_logo> That’s it, refresh your browser sources http://trac.edgewall.org/wiki/0.11/TracInterfaceCustomization http://trac.edgewall.org/wiki/TracEnvironment

Updating Trac software

Well I’ve tried to upgrade Trac the way it was explained, but it did not work. Genshi was still looking for data in old .egg. What I did was the following: rename all Trac-0.11xxx.egg folders into Trac-0.11xxx.egg.old so that I’m sure they will no longer be used install trac using apt (“sudo apt-get update; sudo apt-get install trac”) That’s it (F5) Installing it through “easy_install” was a real nightmare. Last version was installed, but old egg was still valid, and genshi looked for info into old egg, renaming it only generated errors… => I removed all eggs and make a […]

fenv feedback

I’ve spent more than a week on fenv specs, writing development guidelines, and what I feel is that I’m stuck in too much details. Keep in mind this golden rule: goes from general to details  (and not vice versa). I applied this, but not sufficiently. Instead of trying to finish core_component, I will draw a raw picture of HTTP GUI and use it to finish core_component doc. Make a documentation quite generic and allow developers to have freedom. If I make too many restrictions on development, I won’t find any freelance. => place incentives on restrictions, and do not do […]

QC4Web – management specs

I’ve just finished “QC4Web – technical specs” post, please refer to it if need be. context I’ve developed qc4web entirely on my own, without any external help. This was the deal. I simply wanted to prove myself that I create a profesional application on my own, and I did it. QC4Web is far more professional than 95% of all websites. => challenge was 100% technical Now what? Now I know that I can develop, I have the skills. But I also know that it’s very long to do everything on your own and it’s not what I want in the […]