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In Choudry, Explain the decline in demand in the new-issue securitized finance products market following the 2007 financial crisis, it's written that structured products provide inherent leverage. Is this just because the originators of structured products themselves would take out loans to...

In T5-R1-P2-Dowd, under "Define coherent risk measures.", the definition of positive homogeniety refers to X and Y in the image but only X in the text. (P10)

Did anybody receive an email from GARP? I have my status online, but never received a mail.

I've noticed that when calculating VaR/variance/std. dev of 2+ assets (or portfolio), sometimes the correlation/covariance is included, and sometimes it's not. I.e. for standard deviation of 2 assets: sqrt[w(1)^2*variance(1) + w(2)^2*variance(2)+2*w(1)*w(2)+covariance(1,2)] where (1) = asset 1...