Leverage.

Now what's our mantra of this day and age I wonder?

Do you have any idea what this is, buddy?

Central Europe, unsecured.

Word is that davis' fund has taken some big hits on mortgagebacked securities.

And we're going to want to square this as well.

And you end up with a mortgage backed security.

If you're an engineer, you have to create something that's unique and valuable.

And this is what you probably read some articles about, these hedge funds with these computer models to value their mortgage backed securities.

So technically I guess prices can be rounded off to the nearest cent.

You're gonna make more money if a crop fails.

I wonder if it's worth it.

Was it a correct decision?

I have no self esteem.

Do you know the value of fear?

You cannot discriminate.

For one tenth the value of the store!

I have a whole video on mortgage backed securities.

Compute for me the mean and the variance using the maximum likelihood estimator I just gave you.

But, actually, it's suddenly come to me after years working in the business, that what we create in advertising, which is intangible value you might call it perceived value, you might call it badge value, subjective value, intangible value of some kind gets rather a bad rap.

But you will be the best you could be

We'll let R do the work.

But the present value, what does that mean?

Not so in Italy.

In the 1 dimensional case, it is mu and sigma squared.

There are 4 possibilities 0 and 0, 1 and 0, 0 and 1, and 1 and 1.

In the middle of the routine, because stored memory is precious, they stored things in 16 bit numbers.

And so these are going to be three values drawn from a Gaussian distribution with mean zero and variance or standard deviation equal to one.

I have this tool that's worth 500,000.

We would create incentives for securitization.

I have 4 billion in residential CDOs, collateralized debt obligations.

To us it seemed worth protecting.

How is she gonna be valuable?

Let me tell you about a truly magical algorithm called value iteration.

Dispersion

Variance

Get a reward from it!

I thought from the bottom of my heart.

Don't you realize what you've invented?

The nurse said that I could sell them on craig's list, but I just don't know what they're worth.

We're almost at the correlation matrix.

We can talk to them. We can get a solution. The opposite happened.

A book worth reading is worth reading twice.

We just made it explicit.

So these shares each of these one million shares this is a mortgage backed security.