Originally posted on Fixed Income Alternatives:
A fascinating structured note you will see offered by issuers with regularity is the “Worst Of,” which is more optimistically called a “Twin Win.” This structured product that will derive its value at maturity according to the lower performing of two stated indexes.
Here is how a Twin-Win works (twin-win and worst-of are used interchangeably). Like all structured notes, it is a corporate bond issued by an investment bank. This note will not pay regular coupons; it will deliver a total return at maturity. The note will have a stated duration (maturity) and two reference securities. Most often these two securities are well known indexes, for example the S&P500 and the Russell 2000.
When the note is issued the starting level of the both of the indexes is recorded. At maturity the issuer will observe the lower performing of the two indexes, and that one…
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Originally posted on ROSE COVERED GLASSES:
“NEW YORK TIMES”
“A small group of high-ranking Pentagon officials made a quiet visit to Silicon Valley in December to solicit national security ideas from start-up firms with little or no history of working with the military.
In an unusual request for outside ideas, the Pentagon also opened for public comment a long-range research and development plan in December.
“They’ve realized that the old model wasn’t working anymore,” said James Lewis, director of the Strategic Technologies Program at the Center for Strategic and International Studies in Washington. “They’re really worried about America’s capacity to innovate.”
There is a precedent for the initiative. Startled by the Soviet launch of the Sputnik satellite in 1957, President Dwight D. Eisenhower created the Advanced Research Projects Agency, or ARPA, at the Pentagon to ensure that the United States would not be blindsided by technological advances.
Now, the Pentagon has decided that the…
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Originally posted on The Immortal Jukebox:
‘It’s just an ordinary story about the way things go … Round and round nobody knows but the highway goes on forever’ (Rodney Crowell)
‘It is possible to write a line of seemingly innocuous dialogue and have it send a chill along the reader’s spine.’ (Raymond Carver)
I live an ordinary life. So do you. Yet, I guarantee that if we sat down and talked honestly about the lives we have led, the people we have met, the narrative arc of our lives; including the successes, the mis-steps, the fulfilled and broken dreams, the regrets and the wonders, that we would each think the other has led a truly extraordinary life.
All our lives contain experiences we struggle to understand and come to terms with: unresolved longings, fault lines, tender wounds, hidden scars. In a very real sense we will always remain mysteries to ourselves.
I believe that our attraction…
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