A model is used to price a derivative whose payoff depends on returns over N periods on a shrinking basket of originally N assets. Each period, the worst return is added to the cumulative sum after being capped and floored, and the corresponding asset removed from the basket (hence a shrinking basket). The cap and floor rates are given for each…[Read more]

Credit value at risk (VaR) is used for measuring and analyzing credit risk of a portfolio. The basic methodology of the Credit VaR employs the credit migration approach spearheaded by RiskMetrics. It assumes that obligor’s credit quality is determined by the obligor’s asset value, which in turn is approximated by its standardized equity return.

Chaos theory is not as complex as it si often made out to be As Robert Juliano observes, the underlying principle is that “within the apparent randomness of chaotic complex systems, there are underlying patterns, interconnectedness, constant feedback loops, repetition, self-similarity, fractals, and self-organization.”

“Chaos has been for…[Read more]

Ang pagtanggi na ang “pagkamakasarili” ay ang laganap na pamantayan at mayroon lamang “limitadong mga anyo ng altruismo” Upang magsimula, idiin ko na, “Kahit na ang bakterya ay mas matagumpay sa pagpaparami sa presensya ng iba sa kanilang sariling mga species.” Ang ibig kong sabihin ay may connectivity ang bacteria para sa Diyos!
1. Sa isang araw…[Read more]

This paper presented at the Fourth International Conference and Industrial Exhibitoion on Dairy Science Park IV, Nov 1-5, 2017, Konya, Turkey, has reviewed the philosophy of Mevlana Jalal ud Din Rumi regarding love, tolerance, respect and spiritualism; appreciating each others and knowing the value of each other. Rumi (1230) told Iqbal (1930)…[Read more]

This paper presented at the Fourth International Conference and Industrial Exhibitoion on Dairy Science Park IV, Nov 1-5, 2017, Konya, Turkey, has reviewed the philosophy of Mevlana Jalal ud Din Rumi regarding love, tolerance, respect and spiritualism; appreciating each others and knowing the value of each other. Rumi (1230) told Iqbal (1930)…[Read more]

The Sydney Harbour Bridge is an icon on the Sydney urban landscape. The bridge is an engineering marvel of modernism and the early 20th hope of a new nation.

The Sydney Harbour Bridge is an icon on the Sydney urban landscape. The bridge is an engineering marvel of modernism and the early 20th hope of a new nation.

In 2023 there is a vacant lot in central Menangle with a security fence. The reconstructed hall is proposed to open in 2024. On the security fence is an information sign with the hall’s history, what is happening, funding and building timeline. The information signage on the site security fence states: The existing hall is unusable due to…[Read more]

In 2023 there is a vacant lot in central Menangle with a security fence. The reconstructed hall is proposed to open in 2024. On the security fence is an information sign with the hall’s history, what is happening, funding and building timeline. The information signage on the site security fence states: The existing hall is unusable due to…[Read more]

The Campbelltown Arts Centre is holding the Fibro Majestic Exhibition from 8 July to 13 August 2023 with free entry. The exhibition celebrates the heritage of the fibro house in Australia.

The Campbelltown Arts Centre is holding the Fibro Majestic Exhibition from 8 July to 13 August 2023 with free entry. The exhibition celebrates the heritage of the fibro house in Australia.

In 2017 the Camden Historical Society celebrated its 60th anniversary. Society president Dr Ian Willis gave an anniversary address at the Camden Library Museum complex on 24 July. Founded in 1957, the aim of the society has been to tell the Camden story and the local identities and events that are part of it.

In 2017 the Camden Historical Society celebrated its 60th anniversary. Society president Dr Ian Willis gave an anniversary address at the Camden Library Museum complex on 24 July. Founded in 1957, the aim of the society has been to tell the Camden story and the local identities and events that are part of it.

In the first decades of the twentieth century, the Madrid-based Galician journalist Julio Camba (1882–1962) acquired long-lasting fame as a travel writer thanks to his foreign chronicles published in the Spanish press and subsequently compiled in a series of volumes. La rana viajera [The Travelling Frog] (1920), however, gathers some of the p…[Read more]

The art installation The Tree of Life by sculptors Gillies & Marc celebrates the endangered Camden White Gum. The sculpture is located adjacent to the entry of the Camden Council administration building at Oran Park. The work was commissioned by the council in 2016 for the opening of the new office building.

The art installation The Tree of Life by sculptors Gillies & Marc celebrates the endangered Camden White Gum. The sculpture is located adjacent to the entry of the Camden Council administration building at Oran Park. The work was commissioned by the council in 2016 for the opening of the new office building.

We present a model for pricing a credit derivative product where party A has sold default put protection on a Euro denominated bond. Specifically, upon bond issuer default, party A must pay to party B a notional amount of 10 million USD (excluding accrued interest). In exchange, party B must pay a fixed rate to party A, on a quarterly basis,…[Read more]