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Hi David In Dowd (market risk ) reading (modeling dependence : correlation and copulas) he mentions that correlation is a good measure of dependence when random variables are normally distributed but it is not an adequate measure for multivariate normal distribution , a zero correlation...

Hanwha Investment is underwriting a 30-year zero coupon corporate bond issue with a face value of $50 million and a current market value of $2,676,776 (a yield of 5% per six-month period). The firm must hold the bonds for a few days before issuing them to the public, which exposes them to...

Thank you very much for a genuine answer , indeed it it very true that passing this exam is a function of "grading on a curve"

Hi David I am a confused whether I should go for FRM full exam or L1 so far I have completed Foundations of Risk mgmt Quantitative analysis Financial Mkts and products 25% of Valuation and risk models (will be completed this week) Roughly I have completed most of the L1 curriculum...

Thanks a ton ! Excellent explanation !! I get your point now i can differentiate liner and multiple regressions better

Hi David I believe It is one of the most basic doubt while going through the readings of Gujarati .I would like to know the intuition behind using (n-2) degrees of freedom in t-dist , Is it not n-1 df ? with reference to gujarati pg 179 Ch 7 It has been stated that n-2 degrees of freedom is...

Hi David Could you please help me understand the cheapest to deliver (CTD) bond , I am finding it hard to see the intuition. Also I was reading Hull - Chapter 7 Swaps in the currency swaps section Valuation of currency swaps in terms of bond prices I somehow find that there is some...