don’t think the concept is very valuable, because it seems that we value the ambition, drive and desire to amass wealth in people when they don’t have wealth and then resent them for it when they do.

It seems to me that society wants both the rags to riches stories as well as to be able to take them back down once they get there.

So how do you…[Read more]

A CFO wants to sell a security. The CFO knows the true value. She is willing to sell the security at a maximum discount of 15%. A potential investor does not know the true value but does know that the true value equals 100 with probability μ, equals 62 with probability λ or equals 38 with probability 1-μ-λ. The investor is willing to pay at mos…[Read more]