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  • Nassim Taleb Bloomberg Profile

    Transféré par

    Kevin Lin
    340 vues10 pages
    The book's message ofered something of a previev of the crisis: that vere all blind to rare events. Taleb cites the Latin American debt crisis of 1982, the collapse of hedge fund frm LongTerm Capital Management LP in 1998 and the crash of the u.s. Stock market in 1987. His 20year trading career has been marked by jackpots follod by long dry spells.

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    Titre original

    Nassim Taleb Bloomberg profile

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    The book's message ofered something of a previev of the crisis: that vere all blind to rare events. Taleb cites the Latin American debt crisis of 1982, the collapse of hedge fund frm LongTerm Capital Management LP in 1998 and the crash of the u.s. Stock market in 1987. His 20year trading career has been marked by jackpots follod by long dry spells.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    340 vues10 pages

    Nassim Taleb Bloomberg Profile

    Transféré par

    Kevin Lin
    The book's message ofered something of a previev of the crisis: that vere all blind to rare events. Taleb cites the Latin American debt crisis of 1982, the collapse of hedge fund frm LongTerm Capital Management LP in 1998 and the crash of the u.s. Stock market in 1987. His 20year trading career has been marked by jackpots follod by long dry spells.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 10

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    d_Q`Ubc_^VQ]Y\YQbgYdXdXUTUQ\9dºcdU^ Source: Nassim Taleb
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    BLOOMBERG MARKETS MAY 2008
    Hedge fund
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    >_Ydºc’% Q^T’!$]Y\\Y_^]Y^ec’% ¸ Bloomberg News in London.
    8UWYfUcdXUcUdg_T_]QY^cTYVVUbU^d^Q]UcDXUVYbcdXUSQ\\c ssaid@bloomberg.net

    Tracking a Put Option


    At the end of 2007, you could have bought a put option on Apple function to chart the daily returns of Apple stock. For
    Inc. stock with a strike price of $120 for just 59 cents. Shares of the returns during the previous two years, type AAPL US
    iPhone maker traded at $198 on Dec. 31, and the prospects of a 40 <Equity> HRH <Go>, tab in to the RANGE fields, enter
    percent drop—at least judging by historical performance—were 01/03/06 and 12/31/07 and press <Go>. During that period,
    remote. (Put options grant the right but not the obligation to sell Apple stock never fell more than 7.4 percent in a day. To
    the underlying stock at a set price on or before expiration.) compare the distribution of returns early this year, tab in to
    You can use the Historical Return Histogram (HRH) the RANGE fields again, enter 01/03/08 and 03/07/08 and
    press <Go>. Apple’s drop of almost 11
    percent on Jan. 23 falls outside the nor-
    mal distribution, as shown at left.
    You can use the Option Monitor (OMON)
    function to display price, volume and open
    interest data for Apple options. Type OMON
    <Go> and click on the Expiry button on the red
    tool bar to select an expiration month. To
    graph the $120 puts that expire in April, type
    QAA+PD US <Equity> GP <Go>. As of March 7,
    they traded at $6.60, an 11-fold gain.
    MARYANN BUSSO

    50
    BLOOMBERG MARKETS MAY 2008

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