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Duffie on speculative trading

…profit by changing the value of an investment. Duffie admits that speculation “is not necessarily harmless. If a large speculator does not have enough capital to cover potential losses, he…

How to Build an Economic Model

…w’ and (b) that the multiplier in most cases is 1, and (c) the constant (e.g., signing bonus) can be assumed without loss of generality to be 0, (3b) AcceptOffer…

Heavy Flow (not an iPad post)

…year 2009 on Thursday, compared to a €3.9bn loss in 2008. This, we would say, is a pretty impressive turnaround in anyone’s business…. Deutsche attributes much of that growth to…