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Forced Patience (guests: Andy Constan, Paul Schulte)

The Market Huddle

CHAPTER

How Long Do You Stay at Salmon Brothers?

I was at morgan stanley with a guy named vicram pandit, who ended up taking over solomon. He had developed a convertible bon pricing model, and i had developed one along with a colleague in or a quant area that supported equities. So the concepts that were at play at the time were very basic, current yields verses how far out of the money the option is really no a conception. The implied volatility, whor the corporate credit spread were not part of the dialogue. And so, you know, those are basic inputs of models. I started changing that, am that culture around a little bitit was wore things just miss price and the opportunityes ond

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