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Myron Scholes
Myron Samuel Scholes ( ; born July 1, 1941) is a Canadian-American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model. Scholes is currently the chairman of the Board of Economic Advisers of Stamos Capital Partners. Previously he served as the chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors board of directors, American Century Mutual Fund board of directors and the Cutwater Advisory Board. He was a principal and limited partner at Long-Term Capital Management and a managing director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, senior research fellow at the Hoover Institution, director of the Center for Research in Security Prices, and professor of finance at MIT's Sloan School of Management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Timmins, Ontario
Timmins ( ) is a city in northeastern Ontario, Canada, located on the Mattagami River. The city is the fourth-largest city in the Northeastern Ontario region with a population of 41,145 (2021). The city's economy is based on natural resource extraction, and is supported by industries related to lumbering, and to the mining of gold, zinc, copper, nickel and silver. Timmins serves as a regional service and distribution centre. The city has a large Francophone community, with more than 50% bilingual in French and English. History Research performed by archaeologists indicate that human settlement in the area is at least 6,000 years old; it's believed the oldest traces found are from a nomadic people of the Shield Archaic culture. Up until contact with settlers, the land belonged to the Mattagami First Nation peoples. Treaty Number Nine of 1906 pushed this tribe to the north side of the Mattagami Lake, the site of a Hudson's Bay trading post first established in 1794. In the 1950s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long-Term Capital Management
Long-Term Capital Management L.P. (LTCM) was a highly-leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York. LTCM was founded in 1994 by John Meriwether, the former vice-chairman and head of bond trading at Salomon Brothers. Members of LTCM's board of directors included Myron Scholes and Robert C. Merton, who three years later in 1997 shared the Nobel Prize in Economics for having developed the Black–Scholes model of financial dynamics.''A financial History of the United States Volume II: 1970–2001'', Jerry W. Markham, Chapter 5: "Bank Consolidation", M. E. Sharpe, Inc., 2002 LTCM was initially successful, with annualized returns (after fees) of around 21% in its first year, 43% in its second year and 41% in its third year. However, in 1998 it lost $4.6 billion in less than four months due to a combination of high leverage and exposure to the 1997 Asian financi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Hamilton has a population of 569,353, and its census metropolitan area, which includes Burlington and Grimsby, has a population of 785,184. The city is approximately southwest of Toronto in the Greater Toronto and Hamilton Area (GTHA). Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, the town of Hamilton became the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe. On January 1, 2001, the current boundaries of Hamilton were created through the amalgamation of the original city with other municipalities of the Regional Municipality of Hamilton–Wentworth. Residents of the city are known as Hamiltonians. Traditionally, the local economy has been led by the steel and heavy manufacturing industries. During the 2010s, a shift toward the service sector occurred, such as health and sciences. Hamilton is ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Canada, it is Canada's most populous province, with 38.3 percent of the country's population, and is the second-largest province by total area (after Quebec). Ontario is Canada's fourth-largest jurisdiction in total area when the territories of the Northwest Territories and Nunavut are included. It is home to the nation's capital city, Ottawa, and the nation's most populous city, Toronto, which is Ontario's provincial capital. Ontario is bordered by the province of Manitoba to the west, Hudson Bay and James Bay to the north, and Quebec to the east and northeast, and to the south by the U.S. states of (from west to east) Minnesota, Michigan, Ohio, Pennsylvania, and New York. Almost all of Ontario's border with the United States f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Timmins
Timmins ( ) is a city in northeastern Ontario, Canada, located on the Mattagami River. The city is the fourth-largest city in the Northeastern Ontario region with a population of 41,145 (2021). The city's economy is based on natural resource extraction, and is supported by industries related to lumbering, and to the mining of gold, zinc, copper, nickel and silver. Timmins serves as a regional service and distribution centre. The city has a large Francophone community, with more than 50% bilingual in French and English. History Research performed by archaeologists indicate that human settlement in the area is at least 6,000 years old; it's believed the oldest traces found are from a nomadic people of the Shield Archaic culture. Up until contact with settlers, the land belonged to the Mattagami First Nation peoples. Treaty Number Nine of 1906 pushed this tribe to the north side of the Mattagami Lake, the site of a Hudson's Bay trading post first established in 1794. In the 195 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Jews
American Jews or Jewish Americans are American citizens who are Jewish, whether by religion, ethnicity, culture, or nationality. Today the Jewish community in the United States consists primarily of Ashkenazi Jews, who descend from diaspora Jewish populations of Central and Eastern Europe and comprise about 90–95% of the American Jewish population. During the colonial era, prior to the mass immigration of Ashkenazi Jews, Sephardic Jews who arrived via Portugal represented the bulk of America's then-small Jewish population, and while their descendants are a Minority group, minority today, they, along with an array of other Jewish communities, represent the remainder of American Jews, including other more recent Sephardi Jews, Mizrahi Jews, Beta Israel, Beta Israel-Ethiopian Jews, Jewish ethnic divisions, various other ethnically Jewish communities, as well as a smaller number of Conversion to Judaism, converts to Judaism. The American Jewish community manifests a wide range ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Put Option
In finance, a put or put option is a derivative instrument in financial markets that gives the holder (i.e. the purchaser of the put option) the right to sell an asset (the ''underlying''), at a specified price (the ''strike''), by (or at) a specified date (the ''expiry'' or ''maturity'') to the ''writer'' (i.e. seller) of the put. The purchase of a put option is interpreted as a negative sentiment about the future value of the underlying stock. page 15 , 4.2.3 Positive and negative sentiment The term "put" comes from the fact that the owner has the right to "put up for sale" the stock or index. Puts may also be combined with other derivatives as part of more complex investment strategies, and in particular, may be useful for hedging. Holding a European put option is equivalent to holding the corresponding call option and selling an appropriate forward contract. This equivalence is called " put-call parity". Put options are most commonly used in the stock market to protect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Call Option
In finance, a call option, often simply labeled a "call", is a contract between the buyer and the seller of the call option to exchange a security at a set price. The buyer of the call option has the right, but not the obligation, to buy an agreed quantity of a particular commodity or financial instrument (the underlying) from the seller of the option at a certain time (the expiration date) for a certain price (the strike price). This effectively gives the owner a ''long'' position in the given asset. The seller (or "writer") is obliged to sell the commodity or financial instrument to the buyer if the buyer so decides. This effectively gives the seller a ''short'' position in the given asset. The buyer pays a fee (called a premium) for this right. The term "call" comes from the fact that the owner has the right to "call the stock away" from the seller. Price of options Option values vary with the value of the underlying instrument over time. The price of the call contract ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Option (finance)
In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date, depending on the style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction. Thus, they are also a form of asset and have a valuation that may depend on a complex relationship between underlying asset price, time until expiration, market volatility, the risk-free rate of interest, and the strike price of the option. Options may be traded between private parties in ''over-the-counter'' (OTC) transactions, or they may be exchange-traded in live, public markets in the form of standardized contracts. Definition and application An option is a contract that allows the holder the right to buy or sell an underlying asset or financial instrument at a specified strike ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative (finance)
In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be used for a number of purposes, including insuring against price movements ( hedging), increasing exposure to price movements for speculation, or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange such as the Chicago Mercantile Exchange, while most insurance contracts have developed into a separate industry. In the United States, after the financial crisis of 2007–2009, there has been increased pressure to move derivatives to trade on exchanges. Derivatives are one of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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