Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy.
Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. See our Privacy Policy and User Agreement for details.
Published on
This presentation explores the left-tail of daily stock returns since 1950. It investigates whether the Cauchy distribution is an appropriate one to fit this tail as suggested by Benoit Mandelbrot. It also investigates the consequences of using the Normal distribution within a Value-at-Risk type model.
Clipping is a handy way to collect and organize the most important slides from a presentation. You can keep your great finds in clipboards organized around topics.