> Paging PelvicOarfish: Median job tenure in the United States is measured in a small number of years, not in decades.Previous | First | 1 | Last | Next
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Paging PelvicOarfish: Median job tenure in the United States is measured in a small number of years, not in decades.
A job is a concentrated, undiversified, illiquid position in a single counterparty and the counterparty holds a termination option that it can exercise without warning. The income appears smooth because the loss is binary and infrequent rather than continuous and small. It produces steady returns for an extended period and then goes to zero in a single event.
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PelvicOarfishRe: Paging PelvicOarfish: Median job tenure in the United States is measured in a small number of years, not in decades.
the coupon looks smooth. the call feature is the whole product. i am still long one name.
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Re: Paging PelvicOarfish: Median job tenure in the United States is measured in a small number of years, not in decades.
PelvicOarfish wrote:
the coupon looks smooth. the call feature is the whole product. i am still long one name.
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