Along This Trail
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Topic Review (7 of 7): Fixed Income – Quantitative and Statistical Techniques
Prior to the 1980s, fixed-income analysis was relatively straightforward, relying primarily on simple calculations of yield to maturity (YTM) and yield to call under passive, buy-and-hold strategies. However, as the debt markets expanded to include highly complex securities—such as non-investment-grade “junk” bonds, mortgage-backed securities (MBS), and debt with embedded options—practitioners recognized that simple yield-to-maturity metrics…
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Book Review: Contemporary Issues in Audit Management and Forensic Accounting II
In my previous post, I summarized the book‘s discussion of Fraud Theory and Deterrence, which explored why individuals commit fraud and how organizations can reduce the conditions that enable fraudulent behavior. This second post focuses on another major theme covered in Contemporary Issues in Audit Management and Forensic Accounting: Detection Tools and Models. As financial…
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From Correlation to Causation: How a Simple Question Led Me into the World of Complex Systems
One of the most persistent ideas I encountered while studying statistics, machine learning, and data science was a phrase repeated almost everywhere: Correlation is not causation. At first, it seemed straightforward enough. We can measure correlations. We can build predictive models. We can identify patterns hidden within large datasets. But a question lingered in the…
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New Book for Mathematical Stats!
My book, The Simple and Infinite Joy of Mathematical Statistics, just arrived! I’ve watched many of this instructor’s YouTube videos, especially during the pandemic, and her classes were truly priceless. Her willingness to share such high-quality educational content publicly reflects a great generosity of spirit. What I especially appreciate about this book is its strong…