Myron Scholes News
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James Gorman, chairman and chief executive officer of Morgan Stanley, will have less time to boost the bank’s stock price if he wants to reap big profits from his annual bonus.
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Federal Reserve officials are voicing increased concern that record-low interest rates are overheating markets for assets from farmland to junk bonds, which could heighten risks when they reverse their unprecedented bond purchases.
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Nobel-prize winning economists including Robert Mundell, Reinhard Selten and Myron Scholes favor tough austerity measures to tackle deficits in Europe and the U.S. amid debt crises that shook the euro and saw the world’s largest economy lose a triple-A rating.
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Citigroup Inc. said Richard “Rick” Stuckey, named in January 2009 to oversee $241 billion of the bank’s most toxic mortgages and bonds, will retire later this year after cutting the pool by half.
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The 21st century began with a major correction on Wall Street and a long period of volatility in global financial markets. The VIX, sometimes called the fear index, soared, and congressional hearings explored why major investment banks couldn’t better hedge market risk. Traders sought reprieve, and risk management became elevated from prudent practice to a tool for financial survival.
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When I caught Jeff Bezos’s eye at the press preview for the Metropolitan Museum of Art’s new Costume Institute exhibit, which Amazon.com Inc. sponsored, his face burst into an enormous smile. I’d like to think this was because the Amazon chief executive officer likes me so much. (We see each other socially on rare occasions.)
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A mile down an unpaved road on the outskirts of Canton, Illinois, population 14,500, stands a shuttered ethanol plant.
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Hedge-fund managers treat themselves to absolutely fabulous toys: Ken Griffin is fond of Ferraris, Steve Cohen is known for his Damien Hirst pickled shark and ice rink outfitted with its own Zamboni in a gabled cottage.
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Yuan forwards completed a second weekly decline before a report that economists predict will show U.S. growth in the last quarter was less than previously forecast, adding to evidence the global recovery is faltering.
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The skunk works at IShares’ headquarters in San Francisco is buzzing. Researchers in the development lab pore over data flashing across computer screens while colleagues refill their mugs at the coffee bar and huddle in conference rooms illuminated by translucent blue partitions.
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