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In 1973, economists Fischer Black and Myron Scholes published “The Pricing of Options and Corporate Liabilities,” which was the birth of the modern option pricing model that is still today’s gold standard for valuation. The formula isn’t perfect and has some limitations, but for the most part it’s withstood the test of time. ....
Mortgages and housing with costs of borrowing. just remember, markets and the economy for a very long time were used to the 0% rate and the printing of money. every asset price, every economic and data point, we re addicted to it. now we re getting the opposite. if he goes too far, a debt laden commit and a consumer that is getting debt laden, there s a fine line before we tip over. i ve been saying here for a few months, watch the jobs market. if we lose jobs, then we will see a pretty darn good recession. neil: all right. that is not in the offing right now. we could get a stunner friday with the employment report. we ve seen jobs gain. in your next of the words, orlando has amusement parks parkeds, restaurants are parked. consumers are busy. the administration falls back on that to say this ain t your ....
Will closely, neil, because i think that could be the next shoe to drop. i have little prediction in my mind that we re going to see 5% in the next six months unemployment because once it starts heading the other way, it goes quickly. i really hope i m wrong about it because then we re dealing with real trouble. and what i believe is recessionary environment right now, we ll go into a deep recession. that s the last thing we want to see. and, again, i really do believe that the wealth effect on the upside was a big part of the economy. you re getting the exact opposite right now. and every tick down in every asset price works against what we re seeing. so, again, job market, fingers crossed. but i m less than thrilled at what i m seeing right now. neil: well, you do your homework at the grocery store, you re there an hour, two hours checking things out. i m usually there that long just getting the free samplings. [laughter] very different agendas. gary can, we re going to be ....
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