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A Horse called VaR

November 22, 2010

A Horse called VaR

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From → Credit Analysis

2 Comments
  1. Harry Lewin permalink

    What? You require valid assumptions? How do you expect the financial services industry to be able to sell anything if their valuation assumptions are correct. No, the entire industry exists to conceal the valuation and sell a prices way in excesses of its true value. It is the only scenario under which the excessive compensation paid to CEO’s makes any sense. We are in the present crisis because of our denial of the laws of conservation as it applies to housing valuation. I do not hold the consumer responsible for the present crisis – those who systematically deceived us are to blame. But it remains that this crisis would have not occurred but for to consumer, myself included, willing to pay prices that never made any sense.

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