Humor–Myron Scholes on the best way to reduce risk 1

Manalanobis translates a segment of a Myron Scholes interview with an Austrian newspaper in which Scholes comments on ‘the best way to reduce risk.’

Scholes is a co-developer of the Black-Scholes-Merton option pricing formula. Scholes and Merton won a Nobel in part for their work on options; Black had died before the Nobel was awarded. Scholes was part of Meriwether’s arbitrage group at Salomon Brothers, and later a partner of Long Term Capital Management.

I apologize in advance for subjecting you to this bit of humor.

Do you want a little more Scholes? Deborah Solomon interviewed him in the 17 May 2009 issue of the New York Times Magazine.

Nota bene: You will NOT learn anything about option pricing from either of the above links.

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