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引发全球金融危机的一个数学公式 |
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引发全球金融危机的一个数学公式 -- 危言 - (1731 Byte) 2009-2-28 周六, 14:19 (2953 reads) |
parisparis
![头衔: 海归少将 头衔: 海归少将](images/342/newbie5.gif)
头衔: 海归少将 声望: 讲师
加入时间: 2004/09/04 文章: 1996
海归分: 276207
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作者:parisparis 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
with the help fro First Boston and Salomon Brothers.
first CDO ba<x>sed on junk bond were issued in 1980s by Mike.
At that time, David Li's paper has not been published yet at all.
Actually CMO market crashed in 1994, but people all had short memory and forgot the historical lesson.
Your article is misinformative.
BTW, in an 2005 WSJ article that gave high praise to David for his contribution, David made it very clear: understand the assumptions of models before accepting the conclusions.
Most American asset managers are too stupid to understand all the important assumptions. Here the rating agencies played a crucial role to mislead the market.
That Wired.com author is totally ignorant. Now the WS bubble burst, he did not dare to attack the big sharks at WS, and started to pick a Chinese Canadian as the target. David did nothing wrong--he just published a great idea at an academic journal. Everyone knows there is nothing perfect in the academic world. The misuse of his idea is not his fault.
BTW, the much bigger name in the CDO world is actually a Stanford professor Darrell Duffie. That wired.com pighead clearly did not dare to attack him for fear of revenge.
作者:parisparis 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
上一次由parisparis于2009-3-01 周日, 09:45修改,总共修改了1次
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引发全球金融危机的一个数学公式 -- 危言 - (1731 Byte) 2009-2-28 周六, 14:19 (2953 reads) - first CMO was issued in 1983, by Freddie -- parisparis - (1215 Byte) 2009-3-01 周日, 01:20 (438 reads)
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