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| cornell financial engineering manhattan: Privacy is Power Carissa Veliz, 2021-04-06 An Economist Book of the Year Every minute of every day, our data is harvested and exploited… It is time to pull the plug on the surveillance economy. Governments and hundreds of corporations are spying on you, and everyone you know. They're not just selling your data. They're selling the power to influence you and decide for you. Even when you've explicitly asked them not to. Reclaiming privacy is the only way we can regain control of our lives and our societies. These governments and corporations have too much power, and their power stems from us--from our data. Privacy is as collective as it is personal, and it's time to take back control. Privacy Is Power tells you how to do exactly that. It calls for the end of the data economy and proposes concrete measures to bring that end about, offering practical solutions, both for policymakers and ordinary citizens. |
| cornell financial engineering manhattan: Burning the Books Richard Ovenden, 2020-10-13 The director of the famed Bodleian Libraries at Oxford narrates the global history of the willful destruction—and surprising survival—of recorded knowledge over the past three millennia. Libraries and archives have been attacked since ancient times but have been especially threatened in the modern era. Today the knowledge they safeguard faces purposeful destruction and willful neglect; deprived of funding, libraries are fighting for their very existence. Burning the Books recounts the history that brought us to this point. Richard Ovenden describes the deliberate destruction of knowledge held in libraries and archives from ancient Alexandria to contemporary Sarajevo, from smashed Assyrian tablets in Iraq to the destroyed immigration documents of the UK Windrush generation. He examines both the motivations for these acts—political, religious, and cultural—and the broader themes that shape this history. He also looks at attempts to prevent and mitigate attacks on knowledge, exploring the efforts of librarians and archivists to preserve information, often risking their own lives in the process. More than simply repositories for knowledge, libraries and archives inspire and inform citizens. In preserving notions of statehood recorded in such historical documents as the Declaration of Independence, libraries support the state itself. By preserving records of citizenship and records of the rights of citizens as enshrined in legal documents such as the Magna Carta and the decisions of the US Supreme Court, they support the rule of law. In Burning the Books, Ovenden takes a polemical stance on the social and political importance of the conservation and protection of knowledge, challenging governments in particular, but also society as a whole, to improve public policy and funding for these essential institutions. |
| cornell financial engineering manhattan: The Science of Algorithmic Trading and Portfolio Management Robert Kissell, 2013-10-01 The Science of Algorithmic Trading and Portfolio Management, with its emphasis on algorithmic trading processes and current trading models, sits apart from others of its kind. Robert Kissell, the first author to discuss algorithmic trading across the various asset classes, provides key insights into ways to develop, test, and build trading algorithms. Readers learn how to evaluate market impact models and assess performance across algorithms, traders, and brokers, and acquire the knowledge to implement electronic trading systems. This valuable book summarizes market structure, the formation of prices, and how different participants interact with one another, including bluffing, speculating, and gambling. Readers learn the underlying details and mathematics of customized trading algorithms, as well as advanced modeling techniques to improve profitability through algorithmic trading and appropriate risk management techniques. Portfolio management topics, including quant factors and black box models, are discussed, and an accompanying website includes examples, data sets supplementing exercises in the book, and large projects. - Prepares readers to evaluate market impact models and assess performance across algorithms, traders, and brokers. - Helps readers design systems to manage algorithmic risk and dark pool uncertainty. - Summarizes an algorithmic decision making framework to ensure consistency between investment objectives and trading objectives. |
| cornell financial engineering manhattan: The Brutish Museums Dan Hicks, 2020 Walk into any European museum today and you will see the curated spoils of Empire. They sit behind plate glass: dignified, tastefully lit. Accompanying pieces of card offer a name, date and place of origin. They do not mention that the objectsare all stolen. Few artefacts embody this history of rapacious and extractive colonialism better than the Benin Bronzes - a collection of thousands of brass plaques and carved ivory tusks depicting the history of the Royal Court of the Obas of BeninCity, Nigeria. Pillaged during a British naval attack in 1897, the loot was passed on to Queen Victoria, the British Museum and countless private collections. The story of the Benin Bronzes sits at the heart of a heated debate about cultural restitution, repatriation and the decolonisation of museums. In The Brutish Museums, Dan Hicks makes a powerful case for the urgent return of such objects, as part of a wider project of addressing the outstanding debt of colonialism. |
| cornell financial engineering manhattan: Statistics and Data Analysis for Financial Engineering David Ruppert, David S. Matteson, 2015-04-21 The new edition of this influential textbook, geared towards graduate or advanced undergraduate students, teaches the statistics necessary for financial engineering. In doing so, it illustrates concepts using financial markets and economic data, R Labs with real-data exercises, and graphical and analytic methods for modeling and diagnosing modeling errors. These methods are critical because financial engineers now have access to enormous quantities of data. To make use of this data, the powerful methods in this book for working with quantitative information, particularly about volatility and risks, are essential. Strengths of this fully-revised edition include major additions to the R code and the advanced topics covered. Individual chapters cover, among other topics, multivariate distributions, copulas, Bayesian computations, risk management, and cointegration. Suggested prerequisites are basic knowledge of statistics and probability, matrices and linear algebra, and calculus. There is an appendix on probability, statistics and linear algebra. Practicing financial engineers will also find this book of interest. |
| cornell financial engineering manhattan: Algorithmic Trading Methods Robert Kissell, 2020-09-08 Algorithmic Trading Methods: Applications using Advanced Statistics, Optimization, and Machine Learning Techniques, Second Edition, is a sequel to The Science of Algorithmic Trading and Portfolio Management. This edition includes new chapters on algorithmic trading, advanced trading analytics, regression analysis, optimization, and advanced statistical methods. Increasing its focus on trading strategies and models, this edition includes new insights into the ever-changing financial environment, pre-trade and post-trade analysis, liquidation cost & risk analysis, and compliance and regulatory reporting requirements. Highlighting new investment techniques, this book includes material to assist in the best execution process, model validation, quality and assurance testing, limit order modeling, and smart order routing analysis. Includes advanced modeling techniques using machine learning, predictive analytics, and neural networks. The text provides readers with a suite of transaction cost analysis functions packaged as a TCA library. These programming tools are accessible via numerous software applications and programming languages. - Provides insight into all necessary components of algorithmic trading including: transaction cost analysis, market impact estimation, risk modeling and optimization, and advanced examination of trading algorithms and corresponding data requirements - Increased coverage of essential mathematics, probability and statistics, machine learning, predictive analytics, and neural networks, and applications to trading and finance - Advanced multiperiod trade schedule optimization and portfolio construction techniques - Techniques to decode broker-dealer and third-party vendor models - Methods to incorporate TCA into proprietary alpha models and portfolio optimizers - TCA library for numerous software applications and programming languages including: MATLAB, Excel Add-In, Python, Java, C/C++, .Net, Hadoop, and as standalone .EXE and .COM applications |
| cornell financial engineering manhattan: MarketPsych Richard L. Peterson, Frank F. Murtha, 2010-07-30 An investor's guide to understanding the most elusive (yet most important) aspect of successful investing - yourself. Why is it that the investing performance of so many smart people reliably and predictably falls short? The answer is not that they know too little about the markets. In fact, they know too little about themselves. Combining the latest findings from the academic fields of behavioral finance and experimental psychology with the down-and-dirty real-world wisdom of successful investors, Drs. Richard Peterson and Frank Murtha guide both new and experienced investors through the psychological learning process necessary to achieve their financial goals. In an easy and entertaining style that masks the book’s scientific rigor, the authors make complex scientific insights readily understandable and actionable, shattering a number of investing myths along the way. You will gain understanding of your true investing motivations, learn to avoid the unseen forces that subvert your performance, and build your investor identity - the foundation for long-lasting investing success. Replete with humorous games, insightful self-assessments, entertaining exercises, and concrete planning tools, this book goes beyond mere education. MarketPsych: How to Manage Fear and Build Your Investor Identity functions as a psychological outfitter for your unique investing journey, providing the tools, training and equipment to help you navigate the right paths, stay on them, and see your journey through to success. |
| cornell financial engineering manhattan: Big Data Science in Finance Irene Aldridge, Marco Avellaneda, 2021-01-08 Explains the mathematics, theory, and methods of Big Data as applied to finance and investing Data science has fundamentally changed Wall Street—applied mathematics and software code are increasingly driving finance and investment-decision tools. Big Data Science in Finance examines the mathematics, theory, and practical use of the revolutionary techniques that are transforming the industry. Designed for mathematically-advanced students and discerning financial practitioners alike, this energizing book presents new, cutting-edge content based on world-class research taught in the leading Financial Mathematics and Engineering programs in the world. Marco Avellaneda, a leader in quantitative finance, and quantitative methodology author Irene Aldridge help readers harness the power of Big Data. Comprehensive in scope, this book offers in-depth instruction on how to separate signal from noise, how to deal with missing data values, and how to utilize Big Data techniques in decision-making. Key topics include data clustering, data storage optimization, Big Data dynamics, Monte Carlo methods and their applications in Big Data analysis, and more. This valuable book: Provides a complete account of Big Data that includes proofs, step-by-step applications, and code samples Explains the difference between Principal Component Analysis (PCA) and Singular Value Decomposition (SVD) Covers vital topics in the field in a clear, straightforward manner Compares, contrasts, and discusses Big Data and Small Data Includes Cornell University-tested educational materials such as lesson plans, end-of-chapter questions, and downloadable lecture slides Big Data Science in Finance: Mathematics and Applications is an important, up-to-date resource for students in economics, econometrics, finance, applied mathematics, industrial engineering, and business courses, and for investment managers, quantitative traders, risk and portfolio managers, and other financial practitioners. |
| cornell financial engineering manhattan: Key Ideas in Law: The Rule of Law and the Separation of Powers Jack Beatson, 2021-07-29 Prompted by the events following the 2016 referendum on EU membership and written during the COVID-19 pandemic by one of the leading public lawyers of our day, this book considers two key constitutional principles, the rule of law and separation of powers, by examining the generality, certainty and predictability of law, relations between the different branches of the state, and the mechanisms of accountability within our democracy. Since the referendum and in the light of the restrictions imposed to deal with the pandemic, and the use of guidelines presented as rules to do so, attention has refocused on the relationship and respective powers and competences of the three branches of the state, the legislature, the executive, and the judiciary. They have also placed strains on our unwritten constitution that have been unknown in modern times. The role of the courts and of the rule of law, has been dramatically illustrated by recent litigation, most notably the decisions on whether legislation was needed to serve notice of the UK's intention to leave the EU and whether the prorogation of the Westminster Parliament in 2019 was a matter for the courts as opposed to a political question for government. Set against this backdrop, the book answers the following questions: - How accessible is the law and how does it avoid arbitrariness? - How is access to justice protected? - How does our constitution reflect the separation of powers and the balance of responsibilities between law and politics? - How does our democracy enable majorities and protect minorities? |
| cornell financial engineering manhattan: Multi-Asset Risk Modeling Morton Glantz, Robert Kissell, 2013-12-03 Multi-Asset Risk Modeling describes, in a single volume, the latest and most advanced risk modeling techniques for equities, debt, fixed income, futures and derivatives, commodities, and foreign exchange, as well as advanced algorithmic and electronic risk management. Beginning with the fundamentals of risk mathematics and quantitative risk analysis, the book moves on to discuss the laws in standard models that contributed to the 2008 financial crisis and talks about current and future banking regulation. Importantly, it also explores algorithmic trading, which currently receives sparse attention in the literature. By giving coherent recommendations about which statistical models to use for which asset class, this book makes a real contribution to the sciences of portfolio management and risk management. - Covers all asset classes - Provides mathematical theoretical explanations of risk as well as practical examples with empirical data - Includes sections on equity risk modeling, futures and derivatives, credit markets, foreign exchange, and commodities |
| cornell financial engineering manhattan: Last Subway Philip Mark Plotch, 2020-03-15 Last Subway is the fascinating and dramatic story behind New York City's struggle to build a new subway line under Second Avenue and improve transit services all across the city. With his extraordinary access to powerful players and internal documents, Philip Mark Plotch reveals why the city's subway system, once the best in the world, is now too often unreliable, overcrowded, and uncomfortable. He explains how a series of uninformed and self-serving elected officials have fostered false expectations about the city's ability to adequately maintain and significantly expand its transit system. Since the 1920s, New Yorkers have been promised a Second Avenue subway. When the first of four planned phases opened on Manhattan's Upper East Side in 2017, subway service improved for tens of thousands of people. Riders have been delighted with the clean, quiet, and spacious new stations. Yet these types of accomplishments will not be repeated unless New Yorkers learn from their century-long struggle. Last Subway offers valuable lessons in how governments can overcome political gridlock and enormous obstacles to build grand projects. However, it is also a cautionary tale for cities. Plotch reveals how false promises, redirected funds and political ambitions have derailed subway improvements. Given the ridiculously high cost of building new subways in New York and their lengthy construction period, the Second Avenue subway (if it is ever completed) will be the last subway built in New York for generations to come. |
| cornell financial engineering manhattan: American Power after the Financial Crisis Jonathan Kirshner, 2014-09-08 The global financial crisis of 2007–2008 was both an economic catastrophe and a watershed event in world politics. In American Power after the Financial Crisis, Jonathan Kirshner explains how the crisis altered the international balance of power, affecting the patterns and pulse of world politics. The crisis, Kirshner argues, brought about an end to what he identifies as the second postwar American order because it undermined the legitimacy of the economic ideas that underpinned that order—especially those that encouraged and even insisted upon uninhibited financial deregulation. The crisis also accelerated two existing trends: the relative erosion of the power and political influence of the United States and the increased political influence of other states, most notably, but not exclusively, China.Looking ahead, Kirshner anticipates a New Heterogeneity in thinking about how best to manage domestic and international money and finance. These divergences—such as varying assessments of and reactions to newly visible vulnerabilities in the American economy and changing attitudes about the long-term appeal of the dollar—will offer a bold challenge to the United States and its essentially unchanged disposition toward financial policy and regulation. This New Heterogeneity will contribute to greater discord among nations about how best to manage the global economy. A provocative look at how the 2007–2008 economic collapse diminished U.S. dominance in world politics, American Power after the Financial Crisis suggests that the most significant and lasting impact of the crisis and the Great Recession will be the inability of the United States to enforce its political and economic priorities on an increasingly recalcitrant world. |
| cornell financial engineering manhattan: Advanced Portfolio Management Giuseppe A. Paleologo, 2021-08-10 You have great investment ideas. If you turn them into highly profitable portfolios, this book is for you. Advanced Portfolio Management: A Quant’s Guide for Fundamental Investors is for fundamental equity analysts and portfolio managers, present, and future. Whatever stage you are at in your career, you have valuable investment ideas but always need knowledge to turn them into money. This book will introduce you to a framework for portfolio construction and risk management that is grounded in sound theory and tested by successful fundamental portfolio managers. The emphasis is on theory relevant to fundamental portfolio managers that works in practice, enabling you to convert ideas into a strategy portfolio that is both profitable and resilient. Intuition always comes first, and this book helps to lay out simple but effective rules of thumb that require little effort to implement and understand. At the same time, the book shows how to implement sophisticated techniques in order to meet the challenges a successful investor faces as his or her strategy grows in size and complexity. Advanced Portfolio Management also contains more advanced material and a quantitative appendix, which benefit quantitative researchers who are members of fundamental teams. You will learn how to: Separate stock-specific return drivers from the investment environment’s return drivers Understand current investment themes Size your cash positions based on Your investment ideas Understand your performance Measure and decompose risk Hedge the risk you don’t want Use diversification to your advantage Manage losses and control tail risk Set your leverage Author Giuseppe A. Paleologo has consulted, collaborated, taught, and drank strong wine with some of the best stock-pickers in the world; he has traded tens of billions of dollars hedging and optimizing their books and has helped them navigate through big drawdowns and even bigger recoveries. Whether or not you have access to risk models or advanced mathematical background, you will benefit from the techniques and the insights contained in the book—and won't find them covered anywhere else. |
| cornell financial engineering manhattan: Frontiers in Quantitative Finance Rama Cont, 2009-03-09 The Petit D'euner de la Finance–which author Rama Cont has been co-organizing in Paris since 1998–is a well-known quantitative finance seminar that has progressively become a platform for the exchange of ideas between the academic and practitioner communities in quantitative finance. Frontiers in Quantitative Finance is a selection of recent presentations in the Petit D'euner de la Finance. In this book, leading quants and academic researchers cover the most important emerging issues in quantitative finance and focus on portfolio credit risk and volatility modeling. |
| cornell financial engineering manhattan: Cornell Glenn C. Altschuler, Isaac Kramnick, 2014-08-12 In their history of Cornell since 1940, Glenn C. Altschuler and Isaac Kramnick examine the institution in the context of the emergence of the modern research university. The book examines Cornell during the Cold War, the civil rights movement, Vietnam, antiapartheid protests, the ups and downs of varsity athletics, the women's movement, the opening of relations with China, and the creation of Cornell NYC Tech. It relates profound, fascinating, and little-known incidents involving the faculty, administration, and student life, connecting them to the Cornell idea of freedom and responsibility. The authors had access to all existing papers of the presidents of Cornell, which deeply informs their respectful but unvarnished portrait of the university. Institutions, like individuals, develop narratives about themselves. Cornell constructed its sense of self, of how it was special and different, on the eve of World War II, when America defended democracy from fascist dictatorship. Cornell’s fifth president, Edmund Ezra Day, and Carl Becker, its preeminent historian, discerned what they called a Cornell soul, a Cornell character, a Cornell personality, a Cornell tradition—and they called it freedom. The Cornell idea was tested and contested in Cornell’s second seventy-five years. Cornellians used the ideals of freedom and responsibility as weapons for change—and justifications for retaining the status quo; to protect academic freedom—and to rein in radical professors; to end in loco parentis and parietal rules, to preempt panty raids, pornography, and pot parties, and to reintroduce regulations to protect and promote the physical and emotional well-being of students; to add nanofabrication, entrepreneurship, and genomics to the curriculum—and to require language courses, freshmen writing, and physical education. In the name of freedom (and responsibility), black students occupied Willard Straight Hall, the anti–Vietnam War SDS took over the Engineering Library, proponents of divestment from South Africa built campus shantytowns, and Latinos seized Day Hall. In the name of responsibility (and freedom), the university reclaimed them. The history of Cornell since World War II, Altschuler and Kramnick believe, is in large part a set of variations on the narrative of freedom and its partner, responsibility, the obligation to others and to one’s self to do what is right and useful, with a principled commitment to the Cornell community—and to the world outside the Eddy Street gate. |
| cornell financial engineering manhattan: Models.Behaving.Badly. Emanuel Derman, 2011-10-25 Now in paperback, “a compelling, accessible, and provocative piece of work that forces us to question many of our assumptions” (Gillian Tett, author of Fool’s Gold). Quants, physicists working on Wall Street as quantitative analysts, have been widely blamed for triggering financial crises with their complex mathematical models. Their formulas were meant to allow Wall Street to prosper without risk. But in this penetrating insider’s look at the recent economic collapse, Emanuel Derman—former head quant at Goldman Sachs—explains the collision between mathematical modeling and economics and what makes financial models so dangerous. Though such models imitate the style of physics and employ the language of mathematics, theories in physics aim for a description of reality—but in finance, models can shoot only for a very limited approximation of reality. Derman uses his firsthand experience in financial theory and practice to explain the complicated tangles that have paralyzed the economy. Models.Behaving.Badly. exposes Wall Street’s love affair with models, and shows us why nobody will ever be able to write a model that can encapsulate human behavior. |
| cornell financial engineering manhattan: Prominent Families of New York Lyman Horace Weeks, 1898 |
| cornell financial engineering manhattan: Machine Trading Ernest P. Chan, 2017-02-06 Dive into algo trading with step-by-step tutorials and expert insight Machine Trading is a practical guide to building your algorithmic trading business. Written by a recognized trader with major institution expertise, this book provides step-by-step instruction on quantitative trading and the latest technologies available even outside the Wall Street sphere. You'll discover the latest platforms that are becoming increasingly easy to use, gain access to new markets, and learn new quantitative strategies that are applicable to stocks, options, futures, currencies, and even bitcoins. The companion website provides downloadable software codes, and you'll learn to design your own proprietary tools using MATLAB. The author's experiences provide deep insight into both the business and human side of systematic trading and money management, and his evolution from proprietary trader to fund manager contains valuable lessons for investors at any level. Algorithmic trading is booming, and the theories, tools, technologies, and the markets themselves are evolving at a rapid pace. This book gets you up to speed, and walks you through the process of developing your own proprietary trading operation using the latest tools. Utilize the newer, easier algorithmic trading platforms Access markets previously unavailable to systematic traders Adopt new strategies for a variety of instruments Gain expert perspective into the human side of trading The strength of algorithmic trading is its versatility. It can be used in any strategy, including market-making, inter-market spreading, arbitrage, or pure speculation; decision-making and implementation can be augmented at any stage, or may operate completely automatically. Traders looking to step up their strategy need look no further than Machine Trading for clear instruction and expert solutions. |
| cornell financial engineering manhattan: Trading at the Speed of Light Donald MacKenzie, 2023-01-31 A remarkable look at how the growth, technology, and politics of high-frequency trading have altered global financial markets In today’s financial markets, trading floors on which brokers buy and sell shares face-to-face have increasingly been replaced by lightning-fast electronic systems that use algorithms to execute astounding volumes of transactions. Trading at the Speed of Light tells the story of this epic transformation. Donald MacKenzie shows how in the 1990s, in what were then the disreputable margins of the US financial system, a new approach to trading—automated high-frequency trading or HFT—began and then spread throughout the world. HFT has brought new efficiency to global trading, but has also created an unrelenting race for speed, leading to a systematic, subterranean battle among HFT algorithms. In HFT, time is measured in nanoseconds (billionths of a second), and in a nanosecond the fastest possible signal—light in a vacuum—can travel only thirty centimeters, or roughly a foot. That makes HFT exquisitely sensitive to the length and transmission capacity of the cables connecting computer servers to the exchanges’ systems and to the location of the microwave towers that carry signals between computer datacenters. Drawing from more than 300 interviews with high-frequency traders, the people who supply them with technological and communication capabilities, exchange staff, regulators, and many others, MacKenzie reveals the extraordinary efforts expended to speed up every aspect of trading. He looks at how in some markets big banks have fought off the challenge from HFT firms, and how exchanges sometimes engineer technical systems to favor certain types of algorithms over others. Focusing on the material, political, and economic characteristics of high-frequency trading, Trading at the Speed of Light offers a unique glimpse into its influence on global finance and where it could lead us in the future. |
| cornell financial engineering manhattan: Leaders General Stanley McChrystal, Jeff Eggers, Jay Mangone, 2018-10-23 An instant national bestseller! Stanley McChrystal, the retired US Army general and bestselling author of Team of Teams, profiles thirteen of history’s great leaders, including Walt Disney, Coco Chanel, and Robert E. Lee, to show that leadership is not what you think it is—and never was. Stan McChrystal served for thirty-four years in the US Army, rising from a second lieutenant in the 82nd Airborne Division to a four-star general, in command of all American and coalition forces in Afghanistan. During those years he worked with countless leaders and pondered an ancient question: “What makes a leader great?” He came to realize that there is no simple answer. McChrystal profiles thirteen famous leaders from a wide range of eras and fields—from corporate CEOs to politicians and revolutionaries. He uses their stories to explore how leadership works in practice and to challenge the myths that complicate our thinking about this critical topic. With Plutarch’s Lives as his model, McChrystal looks at paired sets of leaders who followed unconventional paths to success. For instance. . . · Walt Disney and Coco Chanel built empires in very different ways. Both had public personas that sharply contrasted with how they lived in private. · Maximilien Robespierre helped shape the French Revolution in the eighteenth century; Abu Musab al-Zarqawi led the jihadist insurgency in Iraq in the twenty-first. We can draw surprising lessons from them about motivation and persuasion. · Both Boss Tweed in nineteenth-century New York and Margaret Thatcher in twentieth-century Britain followed unlikely roads to the top of powerful institutions. · Martin Luther and his future namesake Martin Luther King Jr., both local clergymen, emerged from modest backgrounds to lead world-changing movements. Finally, McChrystal explores how his former hero, General Robert E. Lee, could seemingly do everything right in his military career and yet lead the Confederate Army to a devastating defeat in the service of an immoral cause. Leaders will help you take stock of your own leadership, whether you’re part of a small team or responsible for an entire nation. |
| cornell financial engineering manhattan: Gaining Currency Eswar Prasad, 2017 China's currency, the renminbi, has taken the world by storm. This book documents the renminbi's impressive rise to global prominence in a short period but also shows how much further it has to go before becoming a major international currency. The hype about its inevitable ascendance to global dominance is overblown. |
| cornell financial engineering manhattan: Interest Rate Risk in the Banking Book PAUL. NEWSON, 2017 |
| cornell financial engineering manhattan: Structured Finance and Insurance Christopher L. Culp, 2011-09-13 Praise for Structured Finance & Insurance More and more each year, the modern corporation must decide what risks to keep and what risks to shed to remain competitive and to maximize its value for the capital employed. Culp explains the theory and practice of risk transfer through either balance sheet mechanism such as structured finance, derivative transactions, or insurance. Equity is expensive and risk transfer is expensive. As understanding grows, and, as a result, costs continue to fall, ART will continue to replace equity as the means to cushion knowable risks. This book enhances our understanding of ART. --Myron S. Scholes, Frank E. Buck Professor of Finance, Emeritus, Graduate School of Business, Stanford University A must-read for everyone offering structured finance as a business, and arguably even more valuable to any one expected to pay for such service. --Norbert Johanning, Managing Director, DaimlerChrysler Financial Services Culp's latest book provides a comprehensive account of the most important financing and risk management innovations in both insurance and capital markets. And it does so by fitting these innovative solutions and products into a single, unified theory of financial markets that integrates the once largely separate disciplines of insurance and risk management with the current theory and practice of corporate finance. --Don Chew, Editor, Journal of Applied Corporate Finance (a Morgan Stanley publication) This exciting book is a comprehensive read on alternative insurance solutions available to corporations. It focuses on the real benefits, economical and practical, of alternatives such as captives, rent-a-captive, and mutuals. An excellent introduction to the very complex field of alternative risk transfer (ART). --Paul Wohrmann, PhD, Head of the Center of Excellence ART and member of theExecutive Management of Global Corporate in Europe, Zurich Financial Services Structured Finance and Insurance transcends Silos to reach the Enterprise Mountaintop. Culp superbly details integrated, captive, multiple triggers and capital market products, and provides the architectural blueprints for enterprise risk innovation. --Paul Wagner, Director, Risk Management, AGL Resources Inc. |
| cornell financial engineering manhattan: Introduction to Derivative-Free Optimization Andrew R. Conn, Katya Scheinberg, Luis N. Vicente, 2009-04-16 The first contemporary comprehensive treatment of optimization without derivatives. This text explains how sampling and model techniques are used in derivative-free methods and how they are designed to solve optimization problems. It is designed to be readily accessible to both researchers and those with a modest background in computational mathematics. |
| cornell financial engineering manhattan: Glass House Brian Alexander, 2017-02-14 For readers of Hillbilly Elegy and Strangers in Their Own Land WINNER OF THE OHIOANA BOOK AWARDS AND FINALIST FOR THE 87TH CALIFORNIA BOOK AWARDS |NAMED A BEST/MOST ANTICIPATED BOOK OF 2017 BY: New York Post • Newsweek • The Week • Bustle • Books by the Banks Book Festival • Bookauthority.com The Wall Street Journal: A devastating portrait...For anyone wondering why swing-state America voted against the establishment in 2016, Mr. Alexander supplies plenty of answers. Laura Miller, Slate: This book hunts bigger game.Reads like an odd?and oddly satisfying?fusion of George Packer’s The Unwinding and one of Michael Lewis’ real-life financial thrillers. The New Yorker : Does a remarkable job. Beth Macy, author of Factory Man: This book should be required reading for people trying to understand Trumpism, inequality, and the sad state of a needlessly wrecked rural America. I wish I had written it. In 1947, Forbes magazine declared Lancaster, Ohio the epitome of the all-American town. Today it is damaged, discouraged, and fighting for its future. In Glass House, journalist Brian Alexander uses the story of one town to show how seeds sown 35 years ago have sprouted to give us Trumpism, inequality, and an eroding national cohesion. The Anchor Hocking Glass Company, once the world’s largest maker of glass tableware, was the base on which Lancaster’s society was built. As Glass House unfolds, bankruptcy looms. With access to the company and its leaders, and Lancaster’s citizens, Alexander shows how financial engineering took hold in the 1980s, accelerated in the 21st Century, and wrecked the company. We follow CEO Sam Solomon, an African-American leading the nearly all-white town’s biggest private employer, as he tries to rescue the company from the New York private equity firm that hired him. Meanwhile, Alexander goes behind the scenes, entwined with the lives of residents as they wrestle with heroin, politics, high-interest lenders, low wage jobs, technology, and the new demands of American life: people like Brian Gossett, the fourth generation to work at Anchor Hocking; Joe Piccolo, first-time director of the annual music festival who discovers the town relies on him, and it, for salvation; Jason Roach, who police believed may have been Lancaster’s biggest drug dealer; and Eric Brown, a local football hero-turned-cop who comes to realize that he can never arrest Lancaster’s real problems. |
| cornell financial engineering manhattan: Our Changing Menu Michael P. Hoffmann, Carrie Koplinka-Loehr, Danielle L. Eiseman, 2021-04-15 Our Changing Menu unpacks the increasingly complex relationships between food and climate change. Whether you're a chef, baker, distiller, restaurateur, or someone who simply enjoys a good pizza or drink, it's time to come to terms with how climate change is affecting our diverse and interwoven food system. Michael P. Hoffmann, Carrie Koplinka-Loehr, and Danielle L. Eiseman offer an eye-opening journey through a complete menu of before-dinner drinks and salads; main courses and sides; and coffee and dessert. Along the way they examine the escalating changes occurring to the flavors of spices and teas, the yields of wheat, the vitamins in rice, and the price of vanilla. Their story is rounded out with a primer on the global food system, the causes and impacts of climate change, and what we can all do. Our Changing Menu is a celebration of food and a call to action—encouraging readers to join with others from the common ground of food to help tackle the greatest challenge of our time. |
| cornell financial engineering manhattan: The Cornell Era , 1898 |
| cornell financial engineering manhattan: The Journal of Financial Engineering , 1999 |
| cornell financial engineering manhattan: Labor in the Age of Finance Sanford M. Jacoby, 2021-06 From award-winning economic historian Sanford M. Jacoby, a fascinating and important study of the labor movement and shareholder capitalism Since the 1970s, American unions have shrunk dramatically, as has their economic clout. Labor in the Age of Finance traces the search for new sources of power, showing how unions turned financialization to their advantage. Sanford Jacoby catalogs the array of allies and finance-based tactics labor deployed to stanch membership losses in the private sector. By leveraging pension capital, unions restructured corporate governance around issues like executive pay and accountability. In Congress, they drew on their political influence to press for corporate reforms in the wake of business scandals and the financial crisis. The effort restrained imperial CEOs but could not bridge the divide between workers and owners. Wages lagged behind investor returns, feeding the inequality identified by Occupy Wall Street. And labor’s slide continued. A compelling blend of history, economics, and politics, Labor in the Age of Finance explores the paradox of capital bestowing power to labor in the tumultuous era of Enron, Lehman Brothers, and Dodd-Frank. |
| cornell financial engineering manhattan: Market Microstructure Frédéric Abergel, Jean-Philippe Bouchaud, Thierry Foucault, Charles-Albert Lehalle, Mathieu Rosenbaum, 2012-04-03 The latest cutting-edge research on market microstructure Based on the December 2010 conference on market microstructure, organized with the help of the Institut Louis Bachelier, this guide brings together the leading thinkers to discuss this important field of modern finance. It provides readers with vital insight on the origin of the well-known anomalous stylized facts in financial prices series, namely heavy tails, volatility, and clustering, and illustrates their impact on the organization of markets, execution costs, price impact, organization liquidity in electronic markets, and other issues raised by high-frequency trading. World-class contributors cover topics including analysis of high-frequency data, statistics of high-frequency data, market impact, and optimal trading. This is a must-have guide for practitioners and academics in quantitative finance. |
| cornell financial engineering manhattan: Stochastic Networks Paul Glasserman, Karl Sigman, David D. Yao, 2012-12-06 Two of the most exciting topics of current research in stochastic networks are the complementary subjects of stability and rare events - roughly, the former deals with the typical behavior of networks, and the latter with significant atypical behavior. Both are classical topics, of interest since the early days of queueing theory, that have experienced renewed interest mo tivated by new applications to emerging technologies. For example, new stability issues arise in the scheduling of multiple job classes in semiconduc tor manufacturing, the so-called re-entrant lines; and a prominent need for studying rare events is associated with the design of telecommunication systems using the new ATM (asynchronous transfer mode) technology so as to guarantee quality of service. The objective of this volume is hence to present a sample - by no means comprehensive - of recent research problems, methodologies, and results in these two exciting and burgeoning areas. The volume is organized in two parts, with the first part focusing on stability, and the second part on rare events. But it is impossible to draw sharp boundaries in a healthy field, and inevitably some articles touch on both issues and several develop links with other areas as well. Part I is concerned with the issue of stability in queueing networks. |
| cornell financial engineering manhattan: The Struggle for Redress Jessie Barton-Hronešová, 2020-08-05 This book explores pathways to redress for main groups of victims/survivors of the 1992-5 Bosnian war —families of missing persons, victims of torture, survivors of sexual violence, and victims suffering physical disabilities and harm. The author traces the history of redress-making for each of these groups and shows how differently they have been treated by Bosnian authorities at the state and subnational level. In Bosnia and Herzegovina, thousands of war victims have had to suffer re-traumatising ordeals in order to secure partial redress for their suffering during 1992–1995 and after. While some, such as victims of sexual violence, have been legally recognised and offered financial and service-based compensation, others, such as victims of torture, have been recognized only recently with a clear geographical limitation. The main aim of the book is to explore the politics behind recognizing victimhood and awarding redress in a country that has been divided by instrumentalized identity cleavages, widespread patronage and debilitating war legacies. It shows how war victims/survivors navigate such fragmented and challenging public landscape in order to secure their rights. |
| cornell financial engineering manhattan: Advances in Financial Machine Learning Marcos Lopez de Prado, 2018-01-23 Learn to understand and implement the latest machine learning innovations to improve your investment performance Machine learning (ML) is changing virtually every aspect of our lives. Today, ML algorithms accomplish tasks that – until recently – only expert humans could perform. And finance is ripe for disruptive innovations that will transform how the following generations understand money and invest. In the book, readers will learn how to: Structure big data in a way that is amenable to ML algorithms Conduct research with ML algorithms on big data Use supercomputing methods and back test their discoveries while avoiding false positives Advances in Financial Machine Learning addresses real life problems faced by practitioners every day, and explains scientifically sound solutions using math, supported by code and examples. Readers become active users who can test the proposed solutions in their individual setting. Written by a recognized expert and portfolio manager, this book will equip investment professionals with the groundbreaking tools needed to succeed in modern finance. |
| cornell financial engineering manhattan: Architects Draw Sue Ferguson Gussow, 2013-07-02 Architects Draw offers a practical and invaluable way to help students and would-be sketchers translate what they see onto the page, not as an imitation of reality, but as a comprehensive union of voids and solids, light and shadows, lines and shapes. For nearly forty years revered Cooper Union professor and artist Sue Gussow has taught aspiring architects of varying abilities how to fully observe and perceive the spaces that make up our physical environment. Gussow skillfully applies architectural language to twenty-one drawing exercises that tackle a variety of forms--from peas in a pod to monkeys, skeletons, dinosaur bones, and the art of Giacometti and Mondrian. She shows, for example, how cut fruit and paper bags reveal that the physical world is made up of planes, dimensions, and enclosed space. |
| cornell financial engineering manhattan: Searching for ALPHA Ben Warwick, 2000-05-22 By turns technical, analytical and anecdotal, Ben Warwick's expert investment guide takes you on a whirlwind tour of modern investment theory and practice. Accessible enough to reward dabblers in the field, this book at the same time raises serious issues and attempts to, if not explain them completely, at least point you down the path to financial enlightenment. Abstract or downright abstruse concepts are generously illuminated by side trips into the worlds of one-armed oil wildcatters, Beethoven, Dom Perignon and the mathematician who managed to stop Napoleon's invading armies. getabstract recommends this book as one of the finest overviews of financial theory, technique and practice ever to grace our library's shelves. |
| cornell financial engineering manhattan: Handbook of Financial Markets: Dynamics and Evolution Thorsten Hens, Klaus Reiner Schenk-Hoppe, 2009-06-12 The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical, empirical, and numerical techniques as well as several different modeling approaches, the authors depict the state of debate on the market selection hypothesis. By explicitly assuming the heterogeneity of investors, they present models that are descriptive and normative as well, making the volume useful for both finance theorists and financial practitioners. - Explains the market dynamics of asset prices, offering insights about asset management approaches - Assumes a heterogeneity of investors that yields descriptive and normative models of portfolio selections and asset pricing dynamics |
| cornell financial engineering manhattan: Architecture Interruptus , 2007 Foreword by Sherri Geldin. Introduction by Megan Cavanaugh Novak. Text by Jeffrey Kipnis, Jose Oubrerie, Anthony Eardley. |
| cornell financial engineering manhattan: Landscape Grading Valerie E. Aymer, 2020-04-27 For every element that we design in the landscape, there is a corresponding grading concept, and how these concepts are drawn together is what creates a site grading plan. This study guide explores these concepts in detail to help you learn how to grade with confidence in preparation for the Grading, Drainage and Construction Documentation section of the Landscape Architecture Registration Examination (LARE). This updated second edition is designed as a textbook for the landscape architecture student, a study guide for the professional studying for the LARE, and a refresher for licensed landscape architects. New to this edition: • Additional illustrations and explanations for grading plane surfaces and warped planes, swales, berms, retention ponds, and drain inlets; • Additional illustrations and explanations for grading paths, ramp landings, ramp/stair combinations and retaining walls; • A section on landscape and built element combinations, highlighting grading techniques for parking lots, culverts and sloping berms; • A section on landscape grading standards, recognizing soil cut and fill, determining pipe cover, finding FFE, and horizontal and vertical curves; • Updated information about the computer-based LARE test; • All sections updated to comply with current ADA guidelines; • An appendix highlighting metric standards and guidelines for accessibility design in Canada and the UK. With 223 original illustrations to aid the reader in understanding the grading concepts, including 32 end-of-chapter exercises and solutions to practice the concepts introduced in each chapter, and 10 grading vignettes that combine different concepts into more robust exercises, mimicking the difficulty level of questions on the LARE, this book is your comprehensive guide to landscape grading. |
| cornell financial engineering manhattan: Algorithmic and High-Frequency Trading Álvaro Cartea, Sebastian Jaimungal, José Penalva, 2015-08-06 The design of trading algorithms requires sophisticated mathematical models backed up by reliable data. In this textbook, the authors develop models for algorithmic trading in contexts such as executing large orders, market making, targeting VWAP and other schedules, trading pairs or collection of assets, and executing in dark pools. These models are grounded on how the exchanges work, whether the algorithm is trading with better informed traders (adverse selection), and the type of information available to market participants at both ultra-high and low frequency. Algorithmic and High-Frequency Trading is the first book that combines sophisticated mathematical modelling, empirical facts and financial economics, taking the reader from basic ideas to cutting-edge research and practice. If you need to understand how modern electronic markets operate, what information provides a trading edge, and how other market participants may affect the profitability of the algorithms, then this is the book for you. |
| cornell financial engineering manhattan: The Atomic Bomb and the End of World War II Herbert Feis, 2015-03-08 This book discusses the decision to use the atomic bomb. Libraries and scholars will find it a necessary adjunct to their other studies by Pulitzer-Prize author Herbert Feis on World War II. Originally published in 1966. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905. |
在康奈尔大学 (Cornell University) 就读是种怎样的体验？ - 知乎
但这里就分享一个好玩的经历吧，这件事我觉得真心是Cornell这样的名校才能给我的，而且是我看完《阿拉伯的劳伦斯》后一直神往的地方，那就是我在读书期间获得了沙特阿拉伯政府全额奖 …
大家怎么看位于纽约市的 Cornell Tech（康奈尔科技校区）项目？
因为我在Cornell本部也读过，应该比较有发言权，我就来解释下这个事。Cornell一直因为它较偏僻的地理位置被诟病，所以Cornell长期以来都有在纽约的分校，而且分校和本部之间联系紧密。 …
硕士毕业论文是深度学习相关，需要自己做数据集，但我做出来的 …
盲审的话有两个点可以毙掉你的论文： （1）自己做的数据集。一般算法创新需要在公开数据集上测试效果，如果需要特殊数据集，应该先在公开数据集上证明自己方法的有效性，然后再在自 …
常春藤、25所新常春藤、公立常春藤都是哪些学校？ - 知乎
康奈尔大学（Cornell University）#18; 新常春藤（25所） 范德堡大学（Vanderbilt University）#14; 圣路易斯华盛顿大学（Washington University in St. Louis）#16; 莱斯大学（Rice …
如何评价英伟达发布的 Tesla V100 计算卡？ - 知乎
原文：Cornell University -> Cornell Virtual Workshop -> Understanding GPU Architecture -> GPU Example: Tesla V100. It's fine to have a general understanding of what graphics processing …
致久坐腰疼的年轻人——七年总结的办公久坐护腰指南
Oct 24, 2023 · 根据2:1的规律，每天仍有至少有6小时以上的坐姿时间，更何况996的老哥门，每天至少有8小时需要坐在椅子上。
在康奈尔大学 (Cornell University) 就读是种怎样的体验？ - 知乎
但这里就分享一个好玩的经历吧，这件事我觉得真心是Cornell这样的名校才能给我的，而且是我看完《阿拉伯的劳伦斯》后一直神往的地方，那就是我在读书期间获得了沙特阿拉伯政府全额奖学金参加了沙特的 …
大家怎么看位于纽约市的 Cornell Tech（康奈尔科技校区）项目…
因为我在Cornell本部也读过，应该比较有发言权，我就来解释下这个事。Cornell一直因为它较偏僻的地理位置被诟病，所以Cornell长期以来都有在纽约的分校，而且分校和本部之间联系紧密。除了Cornell …
硕士毕业论文是深度学习相关，需要自己做数据集，但我做出 …
盲审的话有两个点可以毙掉你的论文： （1）自己做的数据集。一般算法创新需要在公开数据集上测试效果，如果需要特殊数据集，应该先在公开数据集上证明自己方法的有效性，然后再在自己数据集上展示 …
常春藤、25所新常春藤、公立常春藤都是哪些学校？ - 知乎
康奈尔大学（Cornell University）#18; 新常春藤（25所） 范德堡大学（Vanderbilt University）#14; 圣路易斯华盛顿大学（Washington University in St. Louis）#16; 莱斯大学（Rice University）#16; 圣母 …
如何评价英伟达发布的 Tesla V100 计算卡？ - 知乎
原文：Cornell University -> Cornell Virtual Workshop -> Understanding GPU Architecture -> GPU Example: Tesla V100. It's fine to have a general understanding of what graphics processing units can be …
