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A Retrospective on the First 100 Episodes of the Alpha Exchange

Alpha Exchange

CHAPTER

The World Can Change

The world can change. As dave points to, it took the materialization of a seminal dangerous event markets to inform participants about the real world probabilities of tail events. And so models that assume there are continuous prices were going to give you bad greeks. The fivetax stocks didn't workan in the late nineties with internet stocks,. Ause things just gapped. Hen dis continuity. This continuity prices was the norm, not the exception.

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