risk measurement
expected return 的distribution来度量risk
absolute risk用SD来度量，relative risk用相对benchmark的tracking error来度量
portfolio construction
sharp ratio，度量absolute risk adjusted return
information ratio，度量relative risk adjusted return
tracking error volatility（TEV）=SD1^2-2correlated coefficiency*SD1*SD2+SD2^2
treynor ratio,度量不能被diversify的systematic risk adjusted return
financial disaster
kinder peabody
artificial profit
rogue trader
allied irish bank
imaginary trade
rogue trader
no trade confirmation
barings
speculate strategy
dual role
rogue trader
LTCM
russia unexpected default
insufficient equity and cash flow crisis
model risk
metallgesellschaft
german accounting
liquidity problem
market shift to contango
sumimoto
speculate strategy
lack of supervisor
