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In this very short paper, I try to summarize the importance of coherent risk measures using clear examples.

The paper should be readable for everyone, and more in particular should be a pleasure to read for people who do not like mathematics that much … and btw, it is only four ...

Niels Bohr once said that if all humanity would be lost and we were to pass only one sentence to the next generation that we should pass the information that matter is composed of atoms. Now humanity has built up almost hundred years more history, and with that hindsight I would prefer ...

Replace Text in Multiple Files

Thursday, September 01, 2011 » Tags:

Did you ever change your mind and want to change the name of one variable in your complete code base? Or change a name in all documents? You want to change one string with another in all files in a certain directory.

Linux gives you the right tools. There are multiple ...

When Poland in 1999 reformed its pension system it displayed –despite some important mistakes that we will elaborate further– not only a courageous vision, but created a system that is inherently healthy and was an important investment in all the future generations. Pensions were ...

Complicated Investment Products

Wednesday, June 22, 2011

I believe that by now I have accumulated some experience after 15 building business and recently finishing my PhD. However some things continue to surprise me. The recent crackdown on so called complicated products—on both sides of the Atlantic Ocean. I still have difficulties to ...

This paper aims to present concrete recommendations to individual investors and in- vestment advisers about what portfolios should be held by private persons and how to construct these portfolios. Starting from the theoretical foundations that are based on the “Hierarchy of Human Needs” (as ...

Polish Politics

Sunday, March 06, 2011 » Tags:

I spent almost a decade in Poland, and live the last two years in Dublin, one of Europe’s financial centres. This allows me almost the viewpoint from an outsider on Poland. Poland is both a cherished example in Europe and an economy that worries its European partners.
Poland was ...

“The tax payer has been funding the banks more than enough! No more money for banks! Make the rich pay!” It’s en euphemism to state that similar points of view are the common denominator in the press that reports on the dramas since the Global Meltdown in 2008.
There are a few problems ...