Viewing profile — jdaw1

In these pages 1⅓ months ago somebody reported on a book on finance that I’d written. Which caused me to discover Hacker News — slow, but got there eventually. Please allow me to b…

Caution: the PDF is a bit behind the HTML. My fault. In particular, the (excellent) chart on the recent crash in fixed0-income price is not in the PDF.

Coupon is the bond’s interest rate, per 100 nominal. Yield is the effective return on the money per 100 cash paid, so allowing for price. Coupon ≢ Yield.

Agreed, strongly. Which is why the online edition has some “Cautionary words”: > Pricing Money is a beginner’s guide: it says so in big letters on the front cover. I believe it to …

Society allows the people to trade futures, but makes it difficult. US brokers seem to make it very easy for “randos” to own equities, but difficult to trade futures. Recently, whe…

There’s a free HTML version on my website, which has some green-boxed updates. But even without those, the book is an excellent beginner’s guide to the interest rate markets. (I am…

Farmer agrees to sell an agricultural commodity to a grocer, for a price fixed now, with delivery after the harvest. Assume price falls a lot, and then the grocer goes bust. Ouch! …

I’m the author. Thank you for saying it is an excellent read — that was no small amount of work. You ask “Where is the productive output of all these arbitrage shell games?”, which…