A lot of beginners hear derivatives and assume they are just risky trading tools. But the more useful way to look at them is that they were built for price protection, hedging, and managing exposure before they became popular for speculation.…
Series: The Learn Arc — 50 posts through the Active Inference workbench. Previous: Part 39 — Session §7.5: Worked example Hero line. Generalized coordinates replace the single state s_t with a tower: s, s', s'', s''', … The belief is over the state and…
In mid-October, the Chicago Board of Trade agreed to be purchased by the Chicago Mercantile Exchange for about $8 billion, topping a wave of exchange mergers in the U.S. and Europe.…