“Some people say you should pay your respects first. I like that idea.” Saying this, my friend José smells his Romeo y Julieta cigar and invites me do to the same with my Cohiba. There is something a bit theatrical about the gesture, but it goes well with our accents. Our daily struggles with the English language have made us both sound more dramatic than we really are.

I’ve avoided cigars until now, perhaps because of the wrong associations with the nouveau riche. Or because I felt I was too young. Or maybe I was simply waiting for a tempting enough invitation. José wooed me for a few months before I agreed to give it a try. He texted me about each of his new acquisitions as if he was telling me about his (fictional) many mistresses. He spoke about his humidor with the pride that only a Spaniard can talk about an inanimate object. Eventually, the technical geek in me fell for the cheap humidor talk.

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“Let me show you a quick way to do the Black Scholes formula in your head and impress people”, Professor Ian Martin says. Then he adds, after a brief pause: “The really few people who would be impressed by that.”

I for one can’t wait to use it as a pick up line at the next campus party. Imagine this:

Me: Pick a number!
Girl: What number?
Me: Any number between 1 and 100.
Girl: What for? Read the rest of this entry »


Stumbled upon one of FDR’s wittiest (and nastiest) campaign speeches. One part in particular sounds as if it could have been delivered during the 2012 presidential election, instead of almost a century ago:

It has been suggested that the American public was apparently elected to the role of our old friend, Alice in Wonderland. I agree that Alice was peering into a wonderful looking-glass of the wonderful economics. White Knights had great schemes of unlimited sales in foreign markets and discounted the future ten years ahead.

The poorhouse was to vanish like the Cheshire cat. A mad hatter invited everyone to “have some more profits.” There were no profits, except on paper. A cynical Father William in the lower district of Manhattan balanced the sinuous evil of a pool-ridden stock market on the end of his nose. A puzzled, somewhat skeptical Alice asked the Republican leadership some simple questions:

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Jazz at the GSB

GSB Courtyard, 14 February

“So what was this little concerto about?” I asked one of the band members while they were packing their instruments.

“We don’t know, they just asked us to play here during lunch.”

Kudos to the GSB management or to whoever organized this tasteful undertone, a perfect counterpoint to the invasion of plastic Cupids.


Long straddleAs he illustrates the devilishly kinked shapes of the basic option portfolios, our Derivative Securities professor, himself a former trader, points at the V-shape of the “Straddle” strategy and, matter-of-factly, recalls:

On 9/11, after the first hit, all traders were crazy buying this stuff to hedge against the market volatility.

I eventually understood that what they were doing was useful not only for themselves or for their customers, but also for the economy. Still, what a haunting image (the traders “going crazy”) to overlay on top of that of the falling man


In trying to make a subtle distinction between fashion modeling and modeling for quantitative analysis, professor Iancu called his analytical models “an abstraction of reality”. I never thought about it, but some of the most attractive top models I know could be aptly called “abstractions of reality”.


She always seemed the very definition of life. Cesária Évora, the Cape Verdean singer whose contralto voice enchanted the world, left barefoot to join the heavenly angels. From now on, she will be singing in front of an ever demanding and very lonesome audience.

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Friday evening, before the finals, I got so absorbed in Dr. Irvin D. Yalom’s fascinating therapeutic story, “Love’s Executioner”, that I almost missed the deadline for doing my homework on My Finance Lab. As I was reading, I stumbled upon this sentence:

Perhaps the single most important therapeutic credo that I have is that ‘the unexamined life is not worth living’.

It’s a motto I myself truly believe in and try to live by. Having said that, I now must sadly return to a few unexamined finance questions.

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Did I tell you we have the most hilarious finance professor? I don’t know how I would’ve made it through this rather dry course without his jokes. Here’s one that cracked me up this morning.

We were talking about incentivizing employees through stock options when somebody said:

But isn’t it so that these options are vested and they’re actually made to handcuff you to your desk?

To which the professor replied:

You’re certainly not a romantic of any kind!

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© Getty Images / Rich Lam

My favorite shot from the year’s most powerful photos. Australian Scott Jones kisses his Canadian girlfriend Alex Thomas after she was knocked to the ground by a police officer’s riot shield in Vancouver, British Columbia. Canadians rioted after the Vancouver Canucks lost the Stanley Cup to the Boston Bruins.
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