Financial Times Germany and Convertible Bonds

Flying home from Zurich today, I came across an article in Financial Times Deutschland saying in the headline “Convertible bonds bring good luck”.

This reminded me of our entering the computational finance world in 1997, doing a project on stable and robust pricing of path-dependent convertible bonds for a London based trading group of an international bank. These convertibles were quite popular at that time; their features included event-triggered callability and arithmetic averaging.

Times have changed since then, but robust computational methods have been a key to our success since then.

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