Word: straightforwardness
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Dates: during 1990-1999
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...beginning to infect the bank's stiff and cautious culture. In the early '90s, the London headquarters of Barings was struggling with the division that championed derivatives-financial instruments that use the public's massive bet on securities to create a parallel universe of side bets, some straightforward (like futures) and others arcane (like swaptions). Derivatives helped the Tokyo unit make huge amounts of money-the kind of money that made Christopher Heath, the head of Baring Securities who was pushing these instruments, Britain's highest paid executive. The Tokyo team, says a former Barings manager there, "was a loose...
Leeson started buying and selling the simplest kind of derivatives, futures pegged to the Nikkei 225, an index of the value of 225 Japanese stocks that is Japan's equivalent of the Dow Jones Industrial Average. It was a straightforward process: in effect, Leeson placed open-ended bets on what would happen to billions of dollars worth of Japanese stocks and bonds. His wager was similar to what gamblers in Las Vegas betting on a football game call the over and under-meaning a bet on whether the final score of a football game will be above or below...
...questionable? We will get to that shortly. But first, what is selfesteem anyway? How exactly does one measure this elusive, fairy-dust quality? What it is seems straightforward enough: it is how much one esteems oneself (hence, "self-esteem"). Yet, what a researcher needs is something tangible to measure. So he or she asks such questions as appeared on the AAUW survey. Students were asked, for example, to respond "always true," "usually true," "sometimes true," or "rarely true," to the statement "I am good at a lot of things." But does answering "always true" really mean that one has high...
...News] questionnaire is very straightforward and quantitative," McGinity said. "It is not qualitative...
...older than your ma," quips Christopher Impey of the University of Arizona's Steward Observatory. Sounds obvious, maybe, but if Freedman and her colleagues are right about their space-telescope observations, it would seem that the universe hasn't caught on to this bit of common sense. The most straightforward interpretation of their data implies that the cosmos is 12 billion years old, max. But experts insist that the oldest stars in the Milky Way have been around for at least 14 billion years. "They could quite easily be several billion years older than that," says Yale's Pierre Demarque...