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Quote by Fischer Black

Work

Business Cycles and Equilibrium

This book delves into the study of economic fluctuations and the principles that govern stability in business environments. more

Author

Fischer Black
Fischer Black

Fischer Black was an outstanding economist known for his contributions to option pricing theory. He was born on January 11, 1938, and passed away on August 30, 1995. more

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“Thus a long term corporate bond could actually be sold to three separate persons. One would supply the money for the bond; one would bear the interest rate risk, and one would bear the risk of default. The last two would not have to put up any capital for the bond, though they might have to post some sort of collateral.”