Cruelty links all three primitives [pleasure, pain, and desire]: Spinoza defines it as the desire to inflict pain on someone we love or pity. Financial speaking, cruelty is analogous to a convertible bond whose debt and equity depend on three economic underliers: the stock price, the level of interest rates, and the credit worthiness of the company's debt.
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Emanuel Derman
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About Emanuel Derman on QuoteMust
Emanuel Derman currently has 1 indexed quotes and 1 linked works on QuoteMust. This page is the canonical destination for that author archive.
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Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life
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