In my last post on this wonderful book , I will try to summarize the Credit products highlighted in the book. Credit Risk is managed by Commercial Banks and Market Risk is managed by Ibanks. Ibanks are not comfortable holding stuff for a long time. However with the onset of credit wars, Ibanks Vs Commercial banks, it started the biggest party of the decade, the credit derivatives party. What’s the real use of credit derivatives ?

Continuing from the previous post on Traders Guns and Money, here is second part of the book summary!. **Show me the Money : ** What’s this chapter about ?It is about profit and loss and how dicey things can get. Profits in derivatives can be compared to Heisenberg uncertainty principle where basic matter behaves as a form of particle and wave, the experiment result depends on what is your initial assumption.

The day I read “Innumeracy”, I began appreciating numbers. Even though I was dealing with numbers prior to that day, that book clearly showed me that I was innumerate .That coupled with my love of life( the book which I have fallen in love and my romance continues till this day) , “The Art of Profitability " , made me realize that I was total crap in numeracy skills. From that day, I have constantly strived to improved my numeracy skills.

This company has to be run out of Bangalore / Hyderabad or some location in India. This is a classic human powered search and I have no clue why this guy is running it out of US. And now he is laying off people and blaming it on economy!! Com’on!! Link : tough decisions!!