A key concept at the heart of financial theory is the “risk-free rate.” The idea is simple: the rate at which you would lend money to a very secure borrower, one with 0% probability of default. If you lend money to a riskier borrower (one with some probability of default) you would charge a “risk…

The best commentary came from the Spanish daily Expansión. They gave us nine pages on Draghi’s measures and a headline from a statement made by Francisco González, president of BBVA: “” (note - I added the "all" to that statement). Draghi was already talking, a few months ago, of measures that needed to be taken in…

A number of very interesting sessions at the World Economic Forum in Davos ...

Once in a while it is good to revisit older movies – as is the case with Jason Reitman’s 2009 film ‘Up in the Air’. Naturally, as the film title already suggests, it has spurred both my personal and professional interests. The story has several facets to it, as the movie touches on the difficulties…