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BNP Paribas CIB
BNP Paribas Corporate and Institutional Banking (CIB) is the global investment banking arm of BNP Paribas, the largest banking group in the world. In October 2010, BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over US$3.1 trillion. BNP Paribas CIB's main centres are in Paris and London, with large scale operations in New York, Hong Kong, and Singapore, and smaller operations in almost every financial centre in the world. It employs 185,000 people across 56 countries and provides financing, advisory and capital markets services. BNP Paribas CIB is a globally recognised leader in two areas of expertise: trading derivatives on all asset classes, and structured financing.Biz Journals BNP Paribas CIB also has a large |
Maison Dorée (Paris)
The Maison Dorée (the "Gilded House") was a famous restaurant located at 20 Boulevard des Italiens, Paris. Beginnings The Maison Dorée story begins with the former ''hôtel particulier'' on this site of Mme de Ferrières, known to the Comte de Stainville-Choiseul, where later Madame Tallien lived. She was known as "Our Lady of Thermidor," the most famous of the Merveilleuses, a group of eccentric and madly fashionable women at the time of the French Directory (1795–99). The story continues with the Café Hardy, famous during Napoleon's Empire, which was established at the junction of the Boulevard de Gand (now Boulevard des Italiens) and the rue Cerutti (now rue Laffitte). At the Café Hardy, according to the gastronome Grimod de La Reynière, "you could eat the best chops in Paris, and omelettes stuffed with truffles ... that would give appetite to a dying guy. " It was the most expensive restaurant in Paris, heralded by contemporary newspapers: "You have to be rich to di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Classes
In finance, an asset class is a group of financial instruments that have similar financial characteristics and behave similarly in the marketplace. We can often break these instruments into those having to do with real assets and those having to do with financial assets. Often, assets within the same asset class are subject to the same laws and regulations; however, this is not always true. For instance, futures on an asset are often considered part of the same asset class as the underlying instrument but are subject to different regulations than the underlying instrument. Many investment funds are composed of the two main asset classes, both of which are securities: equities (stocks) and fixed-income (bonds). However, some also hold cash and foreign currencies. Funds may also hold money market instruments and they may even refer to these as cash equivalents; however, that ignores the possibility of default. Money market instruments, being short-term fixed income investme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jacques De Larosière
Jacques de Larosière de Champfeu (born 12 November 1929) is a French former civil servant who served as the president of the European Bank for Reconstruction and Development from 1993 to 1998. He previously served as the governor of the Banque de France from 1987 to 1993. Before that appointment, he was also the sixth managing director of the International Monetary Fund (IMF) from 1978 to 1987 Family and education Larosière descends from Joseph Thebaud. He studied at Lycée Louis-le-Grand and Institut d'Etudes Politiques de Paris. He graduated from École nationale d'administration in 1958 and entered the elite French Finance Ministry internal inspectorate known as the ''Inspection générale des finances''. Career From 1965 to 1974 Larosière worked at the within the French Finance Ministry. He then briefly joined the private office (''cabinet'') of Finance Minister Valéry Giscard d'Estaing, and following the latter election as French President, was appointed Director of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis Alphonse, Duke Of Anjou
Louis Alphonse de BourbonHis name is given as "Prince Louis Alphonse of Bourbon and Martínez-Bordiú, Duke of Anjou" by Olga S. Opfell in ''Royalty who Wait: The 21 Heads of Formerly Regnant Houses of Europe'' (2001), p. 11. ( es, Luis Alfonso Gonzalo Víctor Manuel Marco de Borbón y Martínez-Bordiú; french: Louis Alphonse Gonzalve Victor Emmanuel Marc de Bourbon;Eilers, Marlene A. Queen Victoria's Descendants. ''Princess Beatrice''. Rosvall Royal Books, Falkoping, Sweden, 1997. pp. 166, 181; Enache, Nicolas. La Descendanace de Marie-Therese de Habsburg Reine de Hongrie and Boheme. ''Maison royale regnante d'Espagne''. ICC/Nouvelle Imprimerie Laballery, Paris, 1999, p. 535. (French). .Willis, Daniel A. The Descendants of King George I of Great Britain. ''The Descendants of Princess Anne, The Princess of Orange''. Clearfield, Baltimore, 2002. p. 231. born 25 April 1974) is the head of the House of Bourbon. Members of the family formerly ruled France and other countries. Accord ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proprietary Trading
Proprietary trading (also known as prop trading) occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm's own money (instead of using depositors' money) in order to make a profit for itself. Proprietary trading can create potential conflicts of interest such as insider trading and front running. Proprietary traders may use a variety of strategies such as index arbitrage, statistical arbitrage, merger arbitrage, fundamental analysis, volatility arbitrage, or global macro trading, much like a hedge fund. Many reporters and analysts believe that large banks purposely leave ambiguous the proportion of proprietary versus non-proprietary trading, because it is felt that proprietary trading is riskier and results in more volatile profits. Arbitrage One of the main strategies of trading, traditionally associated with banks, is arbitrage. In the most basic sense, arbitrage is defined as taking advantage of a pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dynamic Hedging
In mathematical finance, a replicating portfolio for a given asset or series of cash flows is a portfolio of assets with the same properties (especially cash flows). This is meant in two distinct senses: static replication, where the portfolio has the same cash flows as the reference asset (and no changes need to be made to maintain this), and dynamic replication, where the portfolio does not have the same cash flows, but has the same "Greeks" as the reference asset, meaning that for small (properly, infinitesimal) changes to underlying market parameters, the price of the asset and the price of the portfolio change in the same way. Dynamic replication requires continual adjustment, as the asset and portfolio are only assumed to behave similarly at a single point (mathematically, their partial derivatives are equal at a single point). Given an asset or liability, an offsetting replicating portfolio (a "hedge") is called a static hedge or dynamic hedge, and constructing such a portfoli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fooled By Randomness
''Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets'' is a book by Nassim Nicholas Taleb that deals with the fallibility of human knowledge. It was first published in 2001. Updated editions were released a few years later. The book is the first part of Taleb's multi-volume philosophical essay on uncertainty, titled the '' Incerto'', which also includes '' The Black Swan'' (2007–2010), ''The Bed of Procrustes'' (2010–2016), '' Antifragile'' (2012), and '' Skin in the Game'' (2018). Thesis Taleb sets forth the idea that modern humans are often unaware of the existence of randomness. They tend to explain random outcomes as non-random. Human beings: # overestimate causality, e.g., they see elephants in the clouds instead of understanding that they are in fact randomly shaped clouds that appear to our eyes as elephants (or something else); # tend to view the world as more explainable than it really is. So they look for explanations even when there are none ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Black Swan (Taleb Book)
''The Black Swan: The Impact of the Highly Improbable'' is a 2007 book by Nassim Nicholas Taleb, who is a former options trader. The book focuses on the extreme impact of rare and unpredictable outlier events—and the human tendency to find simplistic explanations for these events, retrospectively. Taleb calls this the Black Swan theory. The book covers subjects relating to knowledge, aesthetics, as well as ways of life, and uses elements of fiction and anecdotes from the author's life to elaborate his theories. It spent 36 weeks on the ''New York Times'' best-seller list. The book is part of Taleb's five-volume series, titled the ''Incerto'', including ''Fooled by Randomness'' (2001), ''The Black Swan'' (2007–2010), ''The Bed of Procrustes'' (2010–2016), '' Antifragile'' (2012), and ''Skin in the Game'' (2018). Coping with Black Swan events A central idea in Taleb's book is not to attempt to predict Black Swan events, but to build robustness to negative events and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Finance
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling of financial markets. In general, there exist two separate branches of finance that require advanced quantitative techniques: derivatives pricing on the one hand, and risk and portfolio management on the other. Mathematical finance overlaps heavily with the fields of computational finance and financial engineering. The latter focuses on applications and modeling, often by help of stochastic asset models, while the former focuses, in addition to analysis, on building tools of implementation for the models. Also related is quantitative investing, which relies on statistical and numerical models (and lately machine learning) as opposed to traditional fundamental analysis when managing portfolios. French mathematician Louis Bachelier's doctoral thesis, defended in 1900, is considered the first scholarly work on mathematical fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nassim Taleb
Nassim Nicholas Taleb (; alternatively ''Nessim ''or'' Nissim''; born 12 September 1960) is a Lebanese-American essayist, mathematical statistician, former option trader, risk analyst, and aphorist whose work concerns problems of randomness, probability, and uncertainty. ''The Sunday Times'' called his 2007 book '' The Black Swan'' one of the 12 most influential books since World War II. Taleb is the author of the ''Incerto'', a five-volume philosophical essay on uncertainty published between 2001 and 2018 (of which the best-known books are ''The Black Swan'' and ''Antifragile''). He has been a professor at several universities, serving as a Distinguished Professor of Risk Engineering at the New York University Tandon School of Engineering since September 2008. He has been co-editor-in-chief of the academic journal ''Risk and Decision Analysis'' since September 2014. He has also been a practitioner of mathematical finance, a hedge fund manager, and a derivatives trader, and i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2010
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
