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Robert C. Merton
Robert Cox Merton (born July 31, 1944) is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especially the first continuous-time option pricing model, the Black–Scholes–Merton model. In 1997 Merton together with Myron Scholes were awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for the method to determine the value of derivatives. Merton was on the board of directors of Long-Term Capital Management (LTCM), a highly leveraged hedge fund that collapsed in 1998, wiping out most of the value paid in by the investors, and requiring a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York. Merton's current research focus is on the topics of lifecycle investing and retirement funding, measuring and monitoring systemic risks in macrof ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City, New York
New York, often called New York City (NYC), is the List of United States cities by population, most populous city in the United States, located at the southern tip of New York State on New York Harbor, one of the world's largest natural harbors. The city comprises boroughs of New York City, five boroughs, each coextensive with List of counties in New York, a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global city, global center of financial center, finance and Economy of New York City, commerce, Culture of New York City, culture, high technology, technology, The Entertainment Capital of the World, entertainment and Media in New York City, media, Academy, academics, and List of cities by scientific output, scientific output, the The arts, arts and fashion capital, fashion, and, as hom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert K
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' () "fame, glory, honour, praise, renown, godlike" and '' berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin.Reaney & Wilson, 1997. ''Dictionary of English Surnames''. Oxford University Press. It is also in use as a surname. Another commonly used form of the name is Rupert. After becoming widely used in Continental Europe, the name entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta. The Italian, Portuguese, and Spanish form is Roberto. Robert is also a common name in many Germanic languages, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annual Review Of Financial Economics
Annual may refer to: * Annual publication, periodical publications appearing regularly once per year ** Yearbook ** Literary annual * Annual plant * Annual report * Annual giving * Annual, Morocco, a settlement in northeastern Morocco * Annuals (band), a musical group *Annual, every once in a while See also * Annual Review (other) * Circannual cycle, in biology {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dimensional Fund Advisors
Dimensional Fund Advisors, L.P. (branded Dimensional abbreviated DFA) is a privately-owned investment firm headquartered in Austin, Texas. Dimensional was founded in Brooklyn in 1981 by David Booth, Rex Sinquefield and Larry Klotz. The company has 15 international offices in the U.S., Canada, U.K., Germany, Netherlands, Australia, Singapore, and Japan. Dimensional maintains additional U.S. offices in Charlotte, North Carolina and Santa Monica, California. The company's founders studied at the University of Chicago under Eugene Fama. Kenneth French is co-chair of the firm's investment research committee. DFA's investment strategy is based on application of the efficient market hypothesis. Dimensional was one of the earliest firms to offer passive investing and "runs the oldest small-cap index fund" in the United States. However, the firm's versions of index funds have the flexibility to trade daily and skew towards smaller company stocks and value stocks; They operate differ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Columbia School Of Engineering And Applied Science
The Fu Foundation School of Engineering and Applied Science (also known as SEAS or Columbia Engineering; historically Columbia School of Mines) is the engineering and applied science school of Columbia University, a private research university in New York City. It was founded as the School of Mines in 1863 and then the School of Mines, Engineering and Chemistry before becoming the School of Engineering and Applied Science. On October 1, 1997, the school was renamed in honor of Chinese businessman Z.Y. Fu, who had donated $26 million to the school. The Fu Foundation School of Engineering and Applied Science maintains a close research tie with other institutions including NASA, IBM, MIT, and The Earth Institute. Patents owned by the school generate over $100 million annually for the university. SEAS faculty and alumni are responsible for technological achievements including the developments of FM radio and the maser. The current SEAS faculty include 27 members of the Nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hastings-on-Hudson, New York
Hastings-on-Hudson is a administrative divisions of New York#Village, village in Westchester County located in the southwestern part of the administrative divisions of New York#Town, town of Greenburgh, New York, Greenburgh in the state of New York (state), New York, United States. It is a suburb of New York City, located approximately north of midtown Manhattan, and is served by a Hastings-on-Hudson (Metro-North station), stop on the Metro-North Hudson Line (Metro-North), Hudson Line. To the north of Hastings-on-Hudson is the village of Dobbs Ferry, to the south, the city of Yonkers, New York, Yonkers, and to the east unincorporated parts of Greenburgh. As of the 2020 US Census, it had a population of 8,590. The town lies on U.S. Route 9 in New York, U.S. Route 9, "Broadway" and the Saw Mill River Parkway. History The area that is now Hastings-on-Hudson and Dobbs Ferry, New York, Dobbs Ferry was the primary settlement of the Wappinger#Wecquaesgeek, Weckquaesgeek Algonquian peopl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systemic Risk
In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to the risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system.Banking and currency crises and systemic risk George G. Kaufman (World Bank), Internet Archive It can be defined as "financial ''system'' instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries". It refers to the risks imposed by ''interlinkages'' and ''interdependencies'' in a system or market, where the failure of a single entity or cluster of entities can cause a casca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retirement Funding
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides pension, retirement income. The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the world's largest public pension fund. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about USD$6 Trillion (short scale), trillion in assets. In 2012, PricewaterhouseCoopers estimated that pension funds worldwide hold over $33.9 trillion in assets (and were expected to grow to more than $56 trillion by 2020), the largest for any category of institutional investor ahead of mutual funds, insurance companies, currency reserves, sovereign wealth funds, hedge funds, or private equity. Classifications Open vs. closed pension fund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative (finance)
In finance, a derivative is a contract between a buyer and a seller. The derivative can take various forms, depending on the transaction, but every derivative has the following four elements: # an item (the "underlier") that can or must be bought or sold, # a future act which must occur (such as a sale or purchase of the underlier), # a price at which the future transaction must take place, and # a future date by which the act (such as a purchase or sale) must take place. A derivative's value depends on the performance of the underlier, which can be a commodity (for example, corn or oil), a financial instrument (e.g. a stock or a bond), price index, a price index, a currency, or an interest rate. Derivatives can be used to insure against price movements (Hedge (finance)#Etymology, hedging), increase exposure to price movements for speculation, or get access to otherwise hard-to-trade assets or markets. Most derivatives are price guarantees. But some are based on an event or p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Sweden Prize In Economic Sciences In Memory Of Alfred Nobel
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (), commonly referred to as the Nobel Prize in Economics(), is an award in the field of Economic Sciences, economic sciences administered by the Nobel Foundation, established in 1968 by Sveriges Riksbank (Sweden's central bank) to celebrate its 300th anniversary and in memory of Alfred Nobel. Although the Prize in Economic Sciences was not one of the original five Nobel Prize, Nobel Prizes established by Alfred Nobel's will, it is considered a member of the Nobel Prize system, and is administered and referred to along with the Nobel Prizes by the Nobel Foundation. Winners of the Prize in Economic Sciences are chosen in a similar manner to and announced alongside the Nobel Prize recipients, and receive the Prize in Economic Sciences at the Nobel Prize Award Ceremony. The laureates of the Prize in Economic Sciences are selected by the Royal Swedish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
