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The video states that one downside of hedging is "Tradeoff between economics and accounting: reduced cash flow volatility may increase earnings". I don't really understand the statement very well: Reduced volatility may also decrease earnings (think about an OTM option close to expiry). How is...

Looking for a study partner, mostly to help keep ourselves on-track and disciplined.

I wanted to check if there were any study groups that are starting soon, so I headed over to that forum to check. The first thing I noticed is that the most recent message was from March 2019, but upon a second look, the order of posts doesn't seem to have any bearing on the date order they...

I was looking at the FRM Part 1 courses checklist and saw that it's grouped into 3 categories: Basic Foundation Mastery What's the high-level difference between these three courses?

I'm having a hard time trying to understand the classification of copulas. Here is my attempt; any corrections / guidance would be appreciated. At the top level we have empirical vs non-empirical copulas, which is kind of like non-parametric vs parametric VaR. A) Empirical copulas are...