Broader options market pricing better reflects
such tail risk events.
Not exact matches
As I've regularly noted in recent months, our immediate outlook is essentially flat neutral for practical purposes, though we're partial to a layer of
tail -
risk hedges,
such as out - of - the - money index put options, given that a market decline on the order of even 5 % would almost certainly be sufficient to send our measures of market internals into a negative condition.
A
tail risk can produce devastating financial crisis if it is concentrated in important financial institutions,
such as banks and securities companies, who then must bear the brunt of the losses.
Actual results may vary materially from those expressed or implied by forward - looking statements based on a number of factors, including, without limitation: (1)
risks related to the consummation of the Merger, including the
risks that (a) the Merger may not be consummated within the anticipated time period, or at all, (b) the parties may fail to obtain shareholder approval of the Merger Agreement, (c) the parties may fail to secure the termination or expiration of any waiting period applicable under the HSR Act, (d) other conditions to the consummation of the Merger under the Merger Agreement may not be satisfied, (e) all or part of Arby's financing may not become available, and (f) the significant limitations on remedies contained in the Merger Agreement may limit or entirely prevent BWW from specifically enforcing Arby's obligations under the Merger Agreement or recovering damages for any breach by Arby's; (2) the effects that any termination of the Merger Agreement may have on BWW or its business, including the
risks that (a) BWW's stock price may decline significantly if the Merger is not completed, (b) the Merger Agreement may be terminated in circumstances requiring BWW to pay Arby's a termination fee of $ 74 million, or (c) the circumstances of the termination, including the possible imposition of a 12 - month
tail period during which the termination fee could be payable upon certain subsequent transactions, may have a chilling effect on alternatives to the Merger; (3) the effects that the announcement or pendency of the Merger may have on BWW and its business, including the
risks that as a result (a) BWW's business, operating results or stock price may suffer, (b) BWW's current plans and operations may be disrupted, (c) BWW's ability to retain or recruit key employees may be adversely affected, (d) BWW's business relationships (including, customers, franchisees and suppliers) may be adversely affected, or (e) BWW's management's or employees» attention may be diverted from other important matters; (4) the effect of limitations that the Merger Agreement places on BWW's ability to operate its business, return capital to shareholders or engage in alternative transactions; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any
such proceedings related to the Merger and instituted against BWW and others; (6) the
risk that the Merger and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and / or tax factors; and (8) other factors described under the heading «Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with the
risk that the Merger and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and / or tax factors; and (8) other factors described under the heading «
Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with the
Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with the SEC.
As
such, even the numerous optimists seem aware of the asymmetrical
tail risk associated with the first arrow (monetary).
Showy ornaments used by the male of the species in competition for mates,
such as the long
tail of a peacock or shaggy mane of a lion, could indicate a species»
risk of decline in a changing climate, according to a new study from Queen Mary University of London (QMUL).
On the
tail of California's most destructive and expensive year of firefighting ever, it might seem obvious that vegetation removal would reduce the
risk of
such a year happening again.
As
such, the government holds the
tail risk of the mortgage market imploding already; why not make this insurance explicit, while also regulating and pricing it?
Spitznagel is a specialist in
tail risk, and so the most intriguing part of Spitznagel's papers is his demonstration of the utility of the equity q ratio in identifying «susceptibility to shifts from any extreme consensus» because «
such shifts of extreme consensus are naturally among the predominant mechanics of stock market crashes.»
Before taking your animal in for an elective procedure
such as
tail docking or ear cropping, it is important to talk with your veterinarian about the
risks of each medical procedure.
However, with a potential
risk of more severe problems, and the lack of a normal
tail raises serious questions as to whether breeds should exist which rely on
such deformities.
Furthermore, I believe that the adoption / acceptance of the Precautionary Principle justifies the use of Bayesian methodology for determining the
risks of abrupt SLR, particularly as there is only one AGW experiment that we can conduct on Earth this century, and thus there is no opportunity to conduct the repeatable observations that «Frequentists» demand in order to assess
such «fat -
tailed»
risks.
The long
tail isn't very big, but the consequences of
such high values are so extreme that they may dominate
risk analysis.
To be useful in a
risk context, climate change assessments therefore need a much more thorough exploration of the
tails of the distributions of physical variables
such as sea level rise, temperature, and precipitation, where our scientific knowledge base is less complete, and where sophisticated climate models are less helpful.
After reviewing the gator party concept, the commission concluded that it was important to keep captive wildlife
such as alligators «under rigid supervision and control» as they «pose -LSB--RSB- a serious public safety
risk and could result in scratching of persons, loosening of tape around its mouth, or unrestrained thrashing of its
tail.»