“A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also has to know what the risk taken by other banks in the system happens to be at any particular moment.” KnowsNeedsMomentsProblemHappensTakenRiskParticularModelsScholes Author:Myron Scholes
“My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; also the pricing of derivative securities.” CareersRiskSecurityReturnInvolvedResearchManagementActiveAcademicDerivativesScholesPricingAcademic ResearchActive Management Author:Myron Scholes
