On GMOs

Nassim Taleb on GMOs

 

On GMOs: “A pound of algebra is worth a ton of verbal commentary”. I managed to fit the Precautionary Principle into a few lines. The GMO paid propagandists are pounding tons of verbalistic statements (even an incompetent smear campaign), but this simple summary should cancel about everything they are trying to say. In a single column. They need to refute my representation or show that f(breeding) has the same maximum as f(GMOs).

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Risk Neutral Option Pricing Without Dynamic Hedging, A Measure-Theoretic Proof

[facebookpost https://www.facebook.com/permalink.php?story_fbid=10152111753388375&id=13012333374]

 

Abstract: Proof that under constraints of Put-Call Parity, the probability measure for the valuation of a European option is risk neutral under any general probability distribution, bypassing the Black-Scholes-Merton dynamic hedging argument, and without the requirement of complete markets. The heuristics used by traders for centuries are both more robust and more rigorous than held in the economics literature.

http:// www. fooled by randomness. com/ Option Pricing. pdf