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A Retrospective on the First 100 Episodes of the Alpha Exchange

Alpha Exchange

CHAPTER

The Great Moderation of the Financial System

Central bankers and i m f types believed they'd conquered the business cycle, facilitated by bonafide financial innovation. The policy maker misread of these diminutive option prices in late two thousand six was epic. Low readings on risk spreads in implied val resulted from the overwhelming supply of volatility in all its forms into a market that had remained accident free for too long.

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