Looking into it a bit, Jamie found that the model used by Wall Street to price LEAPs, the Black-Scholes option pricing model, made some strange assumptions.
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Chapter Five, Accidental Capitalists, p. 113Michael Lewis
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The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater the opportunity for people who didn't use it.
Michael Lewis
The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident.
Michael Lewis
Of America it would ill beseem any Englishman, and me perhaps as little as another, to speak unkindly, to speak unpatriotically, if any of us even felt so. Sure enough, America is a great, and in many respects a blessed and hopeful phenomenon. Sure enough, these hardy millions of Anglosaxon men prove themselves worthy of their genealogy... But as to a Model Republic, or a model anything, the wise among themselves know too well that there is nothing to be said... Their Constitution, such as it may be, was made here, not there... Cease to brag to me of America, and its model institutions and constitutions.
Thomas Carlyle
No man can control Wall Street. Wall Street is like the ocean. No man can govern it. It is too vast. Wall Street is full of eddies and currents. The thing to do is to watch them, to exercise a little common sense, and … to come out on top.
Jay Gould
I think my business is about people making you feel self-conscious. All eyeballs are on you when you're a model, when you're on the runway or in front of the camera, you're always looked up and down and back up, so that comes with the territory. But at the end of the day I feel like my parents gave me a good solid foundation. I know who I am and there are things I wouldn't do. I wouldn't starve myself, I also never wanted to chop my hair off when people said I should do this and I should do that. And I always knew who I was and said they're going to book me like this or not book me. I don't want to be a role model because I'm just a person too, so I can have mistakes and some people don't like what I do. People always push this role model thing on you. I just want to be a good role model for my children.
Heidi Klum
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