That's nice. It was Merton and Scholes --- *two* Nobel economists --- who convin...

tptacek on March 23, 2009 | parent | context | favorite | on: Nobel Economist: Now Is No Time to Give Up on Mark...

That's nice. It was Merton and Scholes --- two Nobel economists --- who convinced LTCM and its customers that it was safe to place 15-30:1 leveraged bets on market volatility; that time, we only lost single-digit billions.