ARRIBA

Bionic Turtle’s Week in Risk — Ending July 24th

Low Interest Rates The Search for the Elusive Natural Interest Rate (The concept guides central bankers like Janet Yellen, but the rate can’t be directly observed) http://www.bloomberg.com/news/articles/2016-07-22/the-search-for-the-elusive-natural-interest-rate “The Fed aims to set short-term interest rates in relation to the natural rate--the one that would produce full employment without excess inflation." Death of the risk-free rate http://trtl.bz/death-riskfree-rate... Read More

Bionic Turtle’s Week in Risk — Ending July 17th

Low Interest Rates Ben Carlson tweeted this funny-accurate observation: "2009-2015: Interest rates are going higher for sure. 2016: Interest rates are staying low forever." Apparently, after years of anticipating an inevitable jump to higher long-term rates, the new "smart" consensus is a resignation that we have entered a prolonged regime of low interest rates. Black... Read More

Bionic Turtle’s Week in Risk — Ending July 3rd

David has put together a fantastic Week in Risk blog for you this week! He introduces our newest Resources section in the forum, discusses the tremendous amount of feedback that we have received regarding the May FRM exam and mentions some informative articles about Brexit, just to name a few interesting topics! :) FRM Exam Feedback from... Read More

Bionic Turtle’s Week in Risk — Ending June 19th

We've compiled some great feedback from candidates who took the Part 1 and 2 FRM exams in May! Our forum is also very active again now that candidates are beginning to study for the November exam :) Financial Risk Forum Discussions FRM and BT Nicole's summary of May 2016 exam: https://www.bionicturtle.com/forum/threads/may-2016-part-1-part-2-exam-feedback.9649/ Nicole's helpful blog on utilizing the... Read More

Bionic Turtle’s Week in Risk — Ending May 22nd

Phew! The FRM exam is over, and we hope all candidates did well on the exam! There were some great discussions in the forum this week, and David found some really informative articles that we are sharing with you here :) Financial Risk Forum Discussions May 2016 FRM Feedback Part 1 https://www.bionicturtle.com/forum/threads/may-2016-part-1-exam-feedback.9609 Part 2 https://www.bionicturtle.com/forum/threads/may-2016-part-2-exam-feedback.9610 Quantitative P1.T2... Read More

Bionic Turtle’s Week in Risk — Ending May 15th

It's exam week! All of the discussions in our forum are extremely helpful to those who are studying for the FRM exam so thank you to our members for asking great questions and also for providing informative answers! David found some very informative articles this week, and we hope you enjoy reading through them :) Financial Risk Forum... Read More

Bionic Turtle’s Week in Risk — Ending May 8th

We have had some fantastic participation in our forum this past week! We appreciate everyone's participation as the exam gets closer. All of the discussions in our forum are extremely helpful to those who are studying for the FRM exam so thank you to our members for asking great questions and also for providing informative answers!... Read More

Bionic Turtle’s Week in Risk — Ending May 1st

The forum has been VERY busy this past week! With the May exam approaching quickly, our forum offers an abundance of information! :) Financial Risk Forum Discussions General Some advice and support on “how to combine FRM with work and life at home …” https://www.bionicturtle.com/forum/threads/i-can-use-advice-and-support.9511 Sharing your practice exam results https://www.bionicturtle.com/forum/threads/practice-exam-scores-and-actual-exam-result.7650/page-3#post-41895 Products P1.T3 puneet_, asks: Can... Read More

Bionic Turtle’s Week in Risk — Ending April 24th

The Bionic Turtle FRM forum was crazy busy last week, but we learned a lot! Please note that, as usual in answering some questions, David provided customized spreadsheet snippets. Last week, this included sheet that (i) demonstrate the "additive" property of expected shortfall (ES) under a normal distribution, (ii) semantics of default probability, and (iii)... Read More

Bionic Turtle’s Week in Risk – April 11th

Financial Risk Forum Discussions Risk Appetite Who determines the firm's risk appetite, the Board or the CRO? https://www.bionicturtle.com/forum/threads/p1-t1-505-mechanisms-for-transmitting-risk-governance-crouhy-galai-mark.8225/ Statistical significance of alpha The statistical significance of alpha (is a simple derivation) https://www.bionicturtle.com/forum/threads/p2-t8-18-statistical-significance-of-alpha.5578/#post-41451 Three-tiered securitization Continuing our discussion of the cashflow waterfall in Malz’ three-tiered securitization https://www.bionicturtle.com/forum/threads/p2-t6-313-three-tiered-securitization-structure-cashflows-malz-9-2.7013/ Calculating the value of risky debt  How do we calculate... Read More

Bionic Turtle’s Week in Risk – April 4th

Financial Risk Forum Discussions Concordant versus discordant pairs There is a mistake in Meissner https://www.bionicturtle.com/forum/threads/kendalls-t-which-is-correct.9447/ Here is the detail, including Meissner's confirmation http://trtl.bz/Meissner-Kendall-mistake David's visual explanation of concordant versus discordant http://trtl.bz/concordante-visual                 Component and marginal VaR GARP Practice Exam P2.68 Component and marginal VaR https://www.bionicturtle.com/forum/threads/garp-2016-practice-exam-q68.9450/ Liquidity VaR (LVaR) GARP (older) question... Read More

Bionic Turtle’s Week in Risk – March 28th

Financial Risk Forum Discussions Estimating VaR Estimating VaR with normally distributed arithmetic returns (in contrast to normally distributed geometric returns) https://www.bionicturtle.com/forum/threads/estimating-var-with-normally-distributed-arithmetic-returns.9432/. I think it's worth understanding Dowd on this concept. Pricing a theoretical Treasury bond futures contract Talking about the tedious exercise of pricing a theoretical Treasury bond futures contract http://trtl.bz/0330-tbond-futures It's just cost of carry... Read More