“Dragon Kings” is a new term to me, and the subject on Monday evening of a presentation by Prof. Didier Sornette at an event given by PRMIA. Didier has been working on the diagnosis on financial markets bubbles, something that has been of interest to a lot of people over the past few years (see earlier post on bubble indices from RiskMinds and a follow up here).…
I went along to "Demystifying Financial Services Semantics" on Tuesday, a one day conference put together by the EDMCouncil and the Object Management Group. Firstly, what are semantics? Good question, to which the general answer is that semantics are the "study of meaning".…
Final presentation at the PRMIA event yesterday was by Clifford Rossi and was entitled “The Brave New World of Data & Analytics Following the Crisis: A Risk Manager’s Perspective”.
Clifford got his presentation going with a humorous and self-depricating start by suggesting that his past employment history could in fact be the missing “leading indicator” for predicting orgnisations in crisis, having worked at CitiGroup, WaMu, Countrywide, Freddie Mac and Fannie Mae.…
A few of choice quotes from the rest of the day at NYU-Poly:
- "The difference between economists and meteorologists is that meteorologists can at least agree on what happended yesterday"
- "A bubble can only be identified from a trend when the bubble bursts"
- "Capital flows from strange places to strange destinations in today's financial markets"
- "In a Basel III world, the stock price of Morgan Stanley would rise if its investment banking division were sold off"
- "Basel III is a good attempt at managing systemic risk"
- "Hedge Funds are the risk takers of the future"
- "Hedge Funds have the partnership mentality that the commercial banks have lost and should regain"
- "CCPs should not compete on risk management"
- "Economists are trained to predict everything except the future"
- "Dodd Frank was a missed opportunity to consolidate the many regulators in the United States"
- "Washing D.C.
I went along to the Risk USA event yesterday and caught a good panel in the afternoon called “Garbage in, garbage out” Servicing the data supply and analytic needs for risk management.
In particular, one of the speakers, Frank R. Brown, described some work he had done as a consultant at one financial institution on tracking and rebalancing an index product.…
I went along to a Six Telekurs event "Securities Valuations: Is the Price Right?" last week – good event with some interesting speakers, most notably Paul Atkins of Patomak Partners to talk about the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010.…
Thomson Reuters held a panel event on data management at their London offices on Tuesday last week, with speakers from Barcap, LCH.Clearnet, DB, Mizuho and Citi. This event was held in follow up to their recent report “Beyond Golden Copy“.…
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