Philippe Herlin

Finance Researcher / Doctor in Economics

About this author

Philippe Herlin is a researcher in finance and a doctor in economics of the Conservatoire National des Arts et Métiers in Paris. A proponent of extreme-risk thinkers like Benoît Mandelbrot and Nassim Taleb, and of the Austrian School of Economics, he will be bringing his own views on the actual crisis, the Eurozone, the public debts and the banking system. Having written a book on gold that has become a reference (L’or, un placement d’avenir, Eyrolles 2012), he wishes to see gold play a growing role in our economies, all the way to its full re-monetization.

Banks just won’t learn !

Published by Philippe Herlin | Nov 1, 2012

While publishing its last quarterly results, Morgan Stanley, the American bank, announced it had « modified its VaR model in order for it to be more receptive to the recent market conditions ». What’s behind this weird wording ?

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