#derivatives

... toxic derivatives were underpinned by toxic economics, which, in turn, were no more than motivated delusions in search of theoretical justification; fundamentalist tracts that acknowledged facts only when they could be accommodated to the demands of the lucrative faith. Despite their highly impressive labels and technical appearance, economic models were merely mathematized versions of the touching superstition that markets know best, both at times of tranquility and in periods of tumult. ↗

— Yanis Varoufakis

#economic-models #economics #markets #faith

Over and over again, financial experts and wonkish talking heads endeavor to explain these mysterious, 'toxic' financial instruments to us lay folk. Over and over, they ignobly fail, because we all know that no one understands credit default obligations and derivatives, except perhaps Mr. Buffett and the computers who created them. ↗

— Richard Dooling

#because #computers #created #credit #default

They've been fairly positive, as firm as they could be in regards to the derivatives operations in Montreal. We didn't sense that there was a hesitation about it. But things change. ↗

— Jean Charest

#been #change #could #derivatives #fairly

Derivatives are financial weapons of mass destruction. ↗

— Warren Buffett

#destruction #financial #mass #weapons

I didn't become interested in derivatives until 1982, 1983. ↗

— John Hull

#derivatives #i #interested #until

There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk. ↗

— John Hull

#derivatives #dimensions #gamma #important #known

We started giving presentations at practitioner conferences in 1986, and since then all of our derivatives research has been stimulated by contact with practitioners. ↗

— John Hull

#conferences #contact #derivatives #giving #our

The marginal people on the trading desks, there's no skill set. If they don't trade derivatives, I don't know what they can do. The next stop is driving a cab. ↗

— James Chanos

#derivatives #desks #driving #i #know

Derivatives in and of themselves are not evil. There's nothing evil about how they're traded, how they're accounted for, and how they're financed, like any other financial instrument, if done properly. ↗

— James Chanos

#accounted #any #derivatives #done #evil

I think, my generation, it's hard to have hope when you got a $700-trillion derivatives debt to pay and a bubble about to explode and $500 trillion worth of GDP. ↗

— Shia LaBeouf

#bubble #debt #derivatives #explode #gdp