Income Inequality
I read on BBC yesterday that the richest 62 people in the world now earn as much as the poorest […]
financial meltdown
Columns, The Wilmott Magazine, Topical, Work and Life, Corporate Life, Quantitative Finance
In Our Defense
Here is an article defending (to some extent) the insane salary expectations of the elite bankers and traders. And quants. This piece will appear in my regular column in Wilmott Magazine.
Columns, The Wilmott Magazine, Corporate Life, Quantitative Finance
Slippery Slopes
The last post in this series, this one exposes the extreme cases both in allowing and in denying bonuses, and their implications. Both the options imply our acceptance of certain economic idea. And, as with most things in life, it is not quite clear which is right, once you think long enough about it. A happy and stable middle ground is what we should seek and find.
Columns, The Wilmott Magazine, Corporate Life, Quantitative Finance
Profit Sharing
If you generate profit, don’t you deserve a share of it? Profit generation and increasing shareholder value — these are the hallmarks of top talent in our capitalistic world view now. What is good for the shareholder is certainly good for the talent as well.
Columns, The Wilmott Magazine, Corporate Life, Quantitative Finance
Talent Retention
Another common argument is that bonuses are necessary to retail the so-called “talent.” Are they?
Humor, The Wilmott Magazine, Work and Life, Corporate Life, Environment, Quantitative Finance, Science, Columns
Talent and Intelligence
If hard work does not entitle us to fat bonuses, perhaps our “talent” does? This is the third in the series of posts based on an upcoming column of mine in the Wilmott Magazine.
The Wilmott Magazine, Work and Life, Corporate Life, Quantitative Finance, Columns
Hard Work
The second in the series of posts based on an upcoming column of mine in the Wilmott Magazine, here is the common argument about hard work and the perceived entitlements.
The Wilmott Magazine, Corporate Life, Quantitative Finance, Columns
Bonus Plans of Mice and Men
This is another series of posts based on an upcoming column of mine in the Wilmott Magazine. In this series, I will examine at the arguments for and against huge bonuses and golden parachutes. The first in the series, this post merely sets the stage for the next half a dozen. The starting point of this series is the public resignation letter by Jake DeSantis, ex-EVP at AIG, and his reasons for believing in the fairness of the huge bonus packages. And my arguments against them, with the personal suspicion that my views are perhaps more a case of sour grapes than of moral high horse.
Columns, The Wilmott Magazine, Quantitative Finance
House of Cards
The lessons we need to learn and a sneak preview of the upcoming changes that are sure to impact those of us in the financial industry. Here is the last excerpt from my next column to appear in the Wilmott Magazine in March.
Columns, The Wilmott Magazine, Quantitative Finance
Free Market Hypocrisy
How free is free market? Less than you think. Here is why. Another excerpt from my next column to appear in the Wilmott Magazine.
Columns, The Wilmott Magazine, Quantitative Finance
Quant Culprits
Are quants to blame for the financial mess our banks are in now? I don’t think so. Here is another excerpt from my next column to appear in the Wilmott Magazine.
Columns, The Wilmott Magazine, Quantitative Finance
Where Credit is Due
The paradigms employed for managing credit and market risks proved inadequate during the credit crunch and the ensuing meltdown. Here is another excerpt from my next column to appear in the Wilmott Magazine.