Dedicated to the Memory of AmIAnnoying.com's BruceFollow Us on Twitter
Am I Annoying.com
Search Celebrities (By Last Name)
Search Collections
 Go
Advertising
In The News
 
Voting Station
Myron Scholes
Please vote to return to collections (Voting Results will appear on Right Sidebar).
Economist
    (July 1, 1947- )
    Born in Timmins, Ontario, Canada
    Co-developer of the Black-Scholes model for valuing derivatives and stock options
    Co-recipient of the Nobel Prize in Economics (1997)
    Co-founder of the hedge fund Long-Term Capital Management (1994)
    Long-Term Capital Management collapsed after losing $4.6 billion in four months (1998).
    He and other partners in LTCM were found to have used an illegal tax shelter to avoid paying taxes on the fund’s 1997 profits (2005).
    The Black-Scholes model was used to justify the credit-default swaps that led to the 2008 financial crisis.
    He commented, ‘All models have faults. That doesn’t mean you can’t use them as tools for making decisions.’
    He began investing in the stock market in high school.
    At sixteen, he developed corneal scars that caused vision problems until he had a cornea transplant a decade later.
    Economist Zvi Bodie likened the impact of the Black-Scholes model to that of discovering the structure of DNA on biology.
    It became so ubiquitous at the Chicago Board Options Exchange that Texas Instruments developed a specialized calculator for traders programmed with the Black Scholes model.

Credit: C. Fishel


    In 2018, Out of 11 Votes: 36.36% Annoying
    In 2017, Out of 8 Votes: 62.50% Annoying
    In 2016, Out of 13 Votes: 53.85% Annoying
 
Annoying Collections
Site News