The Convention does not expressly deal with such clauses. The practical problems arising from this fact stem from the traditional differences in domestic legal systems.
The probability of a certain event varies enormously with different time horizons. Sometimes the longer the time horizon, the less likely an event will be to happen. Sometimes the shorter the time horizon, the less likely an event will be to happen.
Combining Marks' definition with the added variable of holding period, perhaps we can come up with the following definition of downside: But even this definition has drawbacks — what about probabilities?
In investing, very frequently less likely events happen and likely events fail to happen. Investors often fail to recognize the inherent unknowability and unpredictability of a business and hence, the unanalyzability of the downside risk.
They often overestimate their ability to analyze a business. It's what you know for certain that just ain't true. The human brain is wired to take mental shortcuts and to prefer quantification over unquantification. In investing, this is manifested in the phenomenon of blindly applying a historical low multiple to a poorly analyzed fundamental metric.
However, if we go a step further and think about the hypotheses involved, we can easily tell that the most important elements are missing. We have to ask why not use a fundamental that reflects an unfavorable outcome. We have to define normalized earnings, and we have to know whether this time is different.
If we get any of them wrong, our worst case is bamboozled. Their goal is to avoid missing out.
Ph.D., Geophysics, University of Science and Technology of China, China () Dissertation Topic: Clouds and precipitation in Subtropical Highs and overshooting convection in Tropics and Subtropics Visiting Scholar, Data Assimilation, College of Marine Science, University of South Florida, (). UOOYAA is a rising fashion brand of ladies apparels. The brand itself is a gift from the founding designer to his daughter, to inspire her, and every girl, to stay liberal, authentic, and fun. We hope to bring out the same brand spirit through the design of the office space. The venue used to be a. Swiss BMX pros David Graf and Christa Von Niederhausern claimed the respective victories at the first ever Red Bull Pump Track World Championship in Springdale, Arkansas on October
But for most investors, the thought of missing out triggers deprival superreaction, which then causes us to act in a biased way — that is to use optimistic assumption in both worst case and sell point assessment and to find confirming evidences to justify our biases.
This is a common process error. But to fix this error is no simple task. Superior investors automatically consider all of the above in their risk assessment.
As you can tell, a lot of judgment is needed, even after the painstaking amount of work one has to do and after the rigorous, diligent and often mentally challenging analytical process.
But to not consider the aforementioned factors would not be prudent at least, and could lead to disastrous results at worst.EXCO Resources (NYSE:XCO) Q4 Earnings Call February 21, AM ET Executives Douglas H.
Miller - Chairman, Chief Executive Officer, Chairman of EXCO Holdings and Chief Executive. China: Model evaluation and sensitivity study (Meng Gao, U. Iowa) A.5 Evaluating predicted AOD over the Middle East (Nick Hoffman, MIT) A.6 Examination of sulfate aerosol formation over Southern Ocean (Qianjie Chen, U.
MrGotham said. It is abundantly clear that there is a shortage of good collateral for both the first and second lien paper (hence the reserves by GE against the borrowing base when they owned the loan that was recently sold to Standard General).
Teng Fei, 17, was given electro-convulsive therapy (ECT) for internet addiction at a centre in China.
When Teng Fei's mother told him that his dad had been taken ill the horrified teenager rushed. 1International Center for Quantum Materials, School of Physics, Peking University, Beijing , China 2Department of Physics and Astronomy, Rice University we report a Raman scattering study of lattice dynamics, which quantify the extent of C 4-symmetry breaking are motivated by the case of bulk FeSe , which exhibits a nematic.
Dec 21, · With the ability of XCO to conduct its business operations dependent on the actions of its banks, going concern risk is elevated, the qualification of such by the company's independent accountants in their audit opinion on the financial statements would raise default risk under XCO's revolving credit facility and second lien term loans.