We analyze the worst currency carry loss episodes in recent decades, including causes, attributio... more We analyze the worst currency carry loss episodes in recent decades, including causes, attribution by currency, timing, and the duration of carry drawdowns. To explore the determinants of the length of carry losses, a model of carry drawdown duration is estimated. We find evidence that drawdown duration varies systematically with expected return from the carry trade at the onset of the drawdown, financial stress indicators and the magnitude of deviations from a fundamental value portfolio of the carry-related portfolio holdings. In an out-of-sample test, we show that these determinants can be used to control carry-related losses and improve investment performance.
Comte met Clotilde in 1844 and fell in love with her. She died shortly afterwards in 1846. Comte ... more Comte met Clotilde in 1844 and fell in love with her. She died shortly afterwards in 1846. Comte emphatically declared that without Clotilde his conception of universal religion, based on "sound philosophy" and inspired by Aristotle and Saint Paul, would not have come to being. 8 The church would be built in Rio de Janeiro by Brazilian members of the Positivist Church. It was on their initiative that in 1902 the Chapel of Humanity, a miniature copy of the temple, would be built in Paris, in the building where Clotilde de Vaux lived. 9 Comte was planning for its future relocation to Istanbul, formerly Constantinople. 10 The temple does not significantly differ from a traditional church, with its nave, aisles, and apse. In any case, positivist masses were to be said in Roman-Catholic churches until society was ready to accept the new worship. 11 Here we can observe a reference to the Catholic tradition and Marian devotions. Comte is thought to have been particularly inspired by Raphael's Madonna, yet it is more likely that the feminine model for the beloved Humanity was Clotilde de Vaux.
Hegel and Marx see scarcities as inherent, necessary, and constructive in the good societies each... more Hegel and Marx see scarcities as inherent, necessary, and constructive in the good societies each envisions. They see that human beings develop themselves and their culture by having needs, working to satisfy those needs, and in the process creating new needs that require new types of thought and action for their satisfaction. At the same time, since all needs cannot be pursued, human beings must reflect on which needs to try to satisfy; this reflection leads, Hegel and Marx think, to concern not with the material and atomistic, but with cultural and social needs and their satisfaction. While Hegel and Marx differ in their assessment of nineteenth-century European civilization or capitalism, they agree that the pursuit of affluence as a primary goal is misleading and misguided, and they do imply some suggestions for treating contemporary ecological scarcities.
THAT HEGEL EXPOUNDED a justification of punishment is clear. The type, logic, and details of his ... more THAT HEGEL EXPOUNDED a justification of punishment is clear. The type, logic, and details of his justification, however, are less clear. 1 But Hegel's theory can be understood as a theory of punishment which is logical and coherent and which, as well, has some interesting implications. Thus, some of Hegel's ideas may be worth reintroducing into the current and continuing debate on punishment and its justification. Furthermore, HegeFs theory yields some important perspectives on the tenor of Hegel's general political philosophy. One problem immediately facing a commentary on Hegel is the definition of the dialectical setting of the subject under consideration. Hegel propounds his theory of punishment primarily in his Philosophy oJ Right, ~ where punishment is treated at the
Page 1. Review-Articles Environmental Politics & Political Science: Issues & Opportunitie... more Page 1. Review-Articles Environmental Politics & Political Science: Issues & Opportunities Michael J. Brenner, The Political Economy of America's Environmental Dilemma (Lexington, Mass.: DC Heath and Company, 1973), 177 PP. ...
... ultimately incest, rape, andother violence erupts. Henry assembles those near to him, marches... more ... ultimately incest, rape, andother violence erupts. Henry assembles those near to him, marches on the worst offenders, and captures many. The "grandest offender of them all," John Phill, "the second son of the Negro-woman" is ...
Cambridge Journals Online (CJO) is the e-publishing service for over 270 journals published by Ca... more Cambridge Journals Online (CJO) is the e-publishing service for over 270 journals published by Cambridge University Press and is entirely developed and hosted in-house. The platform's powerful capacity and reliable performance are maintained by a combination of our own expertise ...
well qualified to analyze these Utopian authors and their works. The early chapters are confused ... more well qualified to analyze these Utopian authors and their works. The early chapters are confused by the jargon of literary criticism, but most of the book is crisp and clear. This reviewer suggests that the thoughtful reader could gain valuable insights into late 19th-...
Page 1. REVIEWS 309 United States is to do so, an intelligent understanding of space technol-ogy ... more Page 1. REVIEWS 309 United States is to do so, an intelligent understanding of space technol-ogy is needed. McDougall offers us a thoughtful perspective on where we are. Whether we have reached a "critical" juncture in history may be ar-guable. ...
PUBLISHED BY THE PRESS SYNDICATE OF THE UNIVERSITY OF CAMBRIDGE The Pitt Building, Trumpington St... more PUBLISHED BY THE PRESS SYNDICATE OF THE UNIVERSITY OF CAMBRIDGE The Pitt Building, Trumpington Street, Cambridge CB2 1RP, United Kingdom CAMBRIDGE UNIVERSITY PRESS The Edinburgh Building, Cambridge CB2 2RU, UK http: //www.cup.cam.ac.uk 40 ...
We analyze the worst currency carry loss episodes in recent decades, including causes, attributio... more We analyze the worst currency carry loss episodes in recent decades, including causes, attribution by currency, timing, and the duration of carry drawdowns. To explore the determinants of the length of carry losses, a model of carry drawdown duration is estimated. We find evidence that drawdown duration varies systematically with expected return from the carry trade at the onset of the drawdown, financial stress indicators and the magnitude of deviations from a fundamental value portfolio of the carry-related portfolio holdings. In an out-of-sample test, we show that these determinants can be used to control carry-related losses and improve investment performance.
Comte met Clotilde in 1844 and fell in love with her. She died shortly afterwards in 1846. Comte ... more Comte met Clotilde in 1844 and fell in love with her. She died shortly afterwards in 1846. Comte emphatically declared that without Clotilde his conception of universal religion, based on "sound philosophy" and inspired by Aristotle and Saint Paul, would not have come to being. 8 The church would be built in Rio de Janeiro by Brazilian members of the Positivist Church. It was on their initiative that in 1902 the Chapel of Humanity, a miniature copy of the temple, would be built in Paris, in the building where Clotilde de Vaux lived. 9 Comte was planning for its future relocation to Istanbul, formerly Constantinople. 10 The temple does not significantly differ from a traditional church, with its nave, aisles, and apse. In any case, positivist masses were to be said in Roman-Catholic churches until society was ready to accept the new worship. 11 Here we can observe a reference to the Catholic tradition and Marian devotions. Comte is thought to have been particularly inspired by Raphael's Madonna, yet it is more likely that the feminine model for the beloved Humanity was Clotilde de Vaux.
Hegel and Marx see scarcities as inherent, necessary, and constructive in the good societies each... more Hegel and Marx see scarcities as inherent, necessary, and constructive in the good societies each envisions. They see that human beings develop themselves and their culture by having needs, working to satisfy those needs, and in the process creating new needs that require new types of thought and action for their satisfaction. At the same time, since all needs cannot be pursued, human beings must reflect on which needs to try to satisfy; this reflection leads, Hegel and Marx think, to concern not with the material and atomistic, but with cultural and social needs and their satisfaction. While Hegel and Marx differ in their assessment of nineteenth-century European civilization or capitalism, they agree that the pursuit of affluence as a primary goal is misleading and misguided, and they do imply some suggestions for treating contemporary ecological scarcities.
THAT HEGEL EXPOUNDED a justification of punishment is clear. The type, logic, and details of his ... more THAT HEGEL EXPOUNDED a justification of punishment is clear. The type, logic, and details of his justification, however, are less clear. 1 But Hegel's theory can be understood as a theory of punishment which is logical and coherent and which, as well, has some interesting implications. Thus, some of Hegel's ideas may be worth reintroducing into the current and continuing debate on punishment and its justification. Furthermore, HegeFs theory yields some important perspectives on the tenor of Hegel's general political philosophy. One problem immediately facing a commentary on Hegel is the definition of the dialectical setting of the subject under consideration. Hegel propounds his theory of punishment primarily in his Philosophy oJ Right, ~ where punishment is treated at the
Page 1. Review-Articles Environmental Politics & Political Science: Issues & Opportunitie... more Page 1. Review-Articles Environmental Politics & Political Science: Issues & Opportunities Michael J. Brenner, The Political Economy of America's Environmental Dilemma (Lexington, Mass.: DC Heath and Company, 1973), 177 PP. ...
... ultimately incest, rape, andother violence erupts. Henry assembles those near to him, marches... more ... ultimately incest, rape, andother violence erupts. Henry assembles those near to him, marches on the worst offenders, and captures many. The "grandest offender of them all," John Phill, "the second son of the Negro-woman" is ...
Cambridge Journals Online (CJO) is the e-publishing service for over 270 journals published by Ca... more Cambridge Journals Online (CJO) is the e-publishing service for over 270 journals published by Cambridge University Press and is entirely developed and hosted in-house. The platform's powerful capacity and reliable performance are maintained by a combination of our own expertise ...
well qualified to analyze these Utopian authors and their works. The early chapters are confused ... more well qualified to analyze these Utopian authors and their works. The early chapters are confused by the jargon of literary criticism, but most of the book is crisp and clear. This reviewer suggests that the thoughtful reader could gain valuable insights into late 19th-...
Page 1. REVIEWS 309 United States is to do so, an intelligent understanding of space technol-ogy ... more Page 1. REVIEWS 309 United States is to do so, an intelligent understanding of space technol-ogy is needed. McDougall offers us a thoughtful perspective on where we are. Whether we have reached a "critical" juncture in history may be ar-guable. ...
PUBLISHED BY THE PRESS SYNDICATE OF THE UNIVERSITY OF CAMBRIDGE The Pitt Building, Trumpington St... more PUBLISHED BY THE PRESS SYNDICATE OF THE UNIVERSITY OF CAMBRIDGE The Pitt Building, Trumpington Street, Cambridge CB2 1RP, United Kingdom CAMBRIDGE UNIVERSITY PRESS The Edinburgh Building, Cambridge CB2 2RU, UK http: //www.cup.cam.ac.uk 40 ...
The twenty-six essays which compose this collection cover a substantial range of both historical ... more The twenty-six essays which compose this collection cover a substantial range of both historical and theoretical themes, indicating at the least that the utopian idea thrives today across a number of disciplines as well as in domains (like computer games) which are themselves of recent origin and which indicate that utopia can also be addressed as an aspect of the internal psychic fantasy world. There is some consideration here of the lengthy and complex historical relationship between utopian ideals and religion. There is some effort to reconsider practical efforts to found actual communities which embody utopian ideals. Several authors revisit the emotional substrata of utopian aspiration rendered accessible through music in particular. Literature is here nonetheless the chief focus, in keeping with the form of Thomas More’s original text and that of the tradition which has imitated and satirised it. The themes represented here mirror in literary form the dystopian drift in the external world discussed above. Many of the leading authors of post-totalitarian dystopian fiction are included here, notably (to name but a few) Margaret Atwood, Robert Heinlein, J.G. Ballard, David Foster Wallace and, most recently, Michel Houellebecq. Within these treatments, the possibilities are explored that dystopia may emerge from or assume the form of racist regimes, environmental destruction, corporate dictatorship, or religious fundamentalism, or some combination of these factors. Such potential outcomes of modernity need, the authors of this volume also assure us, to be balanced against the utopian promise which bodily remodelling entertains, and the possibility of longevity which scientific and technical advances encapsulate as the epitome of modern individualist utopianism.
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