Bionic Turtle’s Week in Risk (ending February 12th)

New practice questions

In the forum this week (selected only)

Bank and banking

Political and regulatory risk, including Systemic Risk (including BIS)

International

Technology, including FinTech and Cybersecurity

Natural Science, including Climate and Energy

Exams, Financial Associations (GARP, FRM, CFA Institute) and Careers, including CRO Interviews

  • Final call for the research analyst? (Under pressure to cut costs and meet new rules, banks and brokerages are shedding jobs) https://www.ft.com/content/85ee225a-ec4e-11e6-930f-061b01e23655Yet even with more innovation, the economics of sellside research will remain challenging. Money managers have historically rewarded banks and brokerages with research they liked with trading business, which often came with fat commissions. Nowadays, electronic markets coupled with regulatory requirements for asset managers to always seek the best-possible execution have frayed this bundled approach.

Books and Courses (including Journal/SSRN)

Data science (primarily R), including Alternative Data

Financial reporting, including Accounting and Audit

Risk Foundations (FRM P1.T1)

Quantitative Analysis (FRM P1.T2)

  • The What does not kill my statistical significance makes it stronger fallacy http://andrewgelman.com/2017/02/06/not-kill-statistical-significance-makes-stronger-fallacy/In short, conditional on statistical significance at some specified level, the noisier the estimate, the higher the Type M and Type S errors. Type M (magnitude) error says that a statistically significant estimate will overestimate the magnitude of the underlying effect, and Type S error says that a statistically significant estimate can have a high probability of getting the sign wrong.

Financial Markets and Products, including Interest Rates, Commodity Risk, and Foreign Exchange (FX)(FRM P1.T3)

Valuation and Risk Models, including Country risk (FRM P1.T4)

Credit risk (FRM P1.T6)

  • A Primer on Collateralized Loan Obligations (CLOs) by Morgan Stanley via FT’s long room http://trtl.bz/2ldowB1

Investment risk, including Pensions (FRM P1.T8)

Current issues (FRM P2.T9)

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