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...demands of the trading floor.VaR projects the maximum loss a company will suffer in a given day assuming typical market conditions, such as 95 or 99 percent of the time. Senior management can then control the risks assumed by the firm by directing traders to increase or decrease the VaR, depending on the company’s appetite for risk.But VaR modeling does not describe events that occur the other 1 percent of the time. In the New York Times best-seller “The Black Swan: The Impact of the Highly Improbable,” Nassim N. Taleb...
Another honoree is Academy Award winning director and screenwriter Pedro Almodóvar, who will receive a doctorate of arts degree...
...jury that made room for Mendoza managed to ignore two men who are surely among the most daring, original and accomplished filmmakers in the competition, or anywhere else: Spain's Pedro Almodóvar, with his Penélope Cruz romantic drama Broken Embraces, and Palestine's Elia Suleiman, whose endearing, deadpan The Time That Remains tells, in sour or poignant vignettes, the history of his family and his sundered country. Resnais, whose Wild Grass shows the legendary 86-year-old director at the top of his puckishly anarchic form, won a Life Achievement Award - which is Palme-speak...
...Also returning is Spain's Pedro Almodóvar, arguably - actually, since we're writing this, unquestionably - the world's most delight-giving director. In his crazy early days he was ignored by Cannes, but his last four films (All About My Mother, Talk to Her, Bad Education and Volver) have been festival highlights. Oscar-winner Penélope Cruz makes her fourth appearance in an Almodóvar film with Broken Embraces, a time-spanning tale of a film director (Lluís Homar) who goes blind and loses the love of his life (Cruz). (Watch a TIME video...
...carry the same swagger into this weekend's Americas summit in Port of Spain, Trinidad? At first glance, his decade-old Bolivarian Revolution (named for South America's 19th century independence hero, Simón Bolívar) seems as potent as it was four years ago. Chávez, still Venezuela's most popular political figure, just won a referendum that will let him run for re-election as long as he wants. His small but radical leftist bloc of Latin American nations (including Bolivia and Nicaragua) has helped blunt U.S. hegemony and ushered non-hemispheric allies like Russia...