Finance
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New Heights in Collateralization: Cheese Bonds
In our never-ending quest to be your go-to source for developments in Italian cheese finance, we call your attention to the issuance of Parmesan-backed bonds. No word on whether the beleaguered mozzarella industry is also pursuing this path. FinTech startup Cheese.ly cannot be far behind.
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The Italian Cheese Wheel Bailout
The Wall Street Journal reports there is a bull market in at least one commodity: bailouts. I, for one, thought the NASCAR bailout would be impossible to top, but I stand corrected. The world is bailing out banks and car companies. Italy is coming to the rescue of parmigiano cheese. In an effort to help…
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Toto, We’re Not in Mediocristan Any More
More on the poor applicability of financial models to the real world from the Economist: Goldman Sachs admitted as much when it said that its funds had been hit by moves that its models suggested were 25 standard deviations away from normal. In terms of probability (where 1 is a certainty and 0 an impossibility), that translates into…