"What if I told you that the true culprit behind the 2007-2008 credit crisis and, indirectly, the current Euro crisis was a mathematical model known as Value at Risk? And what if I told you that VaR, present in the markets for more than two decades, had caused trouble before and that its obvious structural deficiencies were amply known?" In this guest post, the author writes about "The Number That Killed Us."
The year ahead will see slow global economic growth combined with political uncertainty to create to a similar outlook for stock markets to 2011 with a significant chance of continued stock market volatility, according to a research note published by HSBC’s global head of equity strategy, Gary Evans.
Armed with some new books and one old favorite - I'm taking some time off for the holidays. But I don't want you to think I have forgotten you or your reading needs. If you're still looking for some gift suggestions for your friends, colleagues, loved ones - or you're looking for a good book to bring along on your holiday - have I got some great books for you.