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Options In Chapter 16 we discuss in some detail the difficulty in estimating fair value for listed equity options. Options specialists devote considerable resources to evaluating options prices, and competition among specialists should help to make the market fairly efficient. The zero‐sum nature of the options market suggests it should not be viewed as an asset class (if it were an asset class, which side would be expected to generate the risk premium?) and is a further hint that individual investors should be skeptical of generating excess returns in this domain.
The Missing Billionaires
Victor Haghani and James White
Economics, as any historian or anthropologist could have told him instantly, was hopelessly intertwined with politics and culture. Perhaps the lesson was obvious, says Arthur, “But I had to learn it the hard way.
Complexity
M. Mitchell Waldrop
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