The duration formula reduces the bond in question down to a zero coupon bond equivalent. The result is measured in years. A 7% 30-year bond with a 7.2-year duration is expected to have the same volatility as a zero coupon bond maturing in 7.2 years.
Furthermore, the price is expected to change roughly 7.2% when interest rates change 100 bp.
Cell Biology
It is an interesting overview from Khan Academy
Concept words from the video are:
I have to say the points made by Professor Peter Dale Scott are rather disturbing.
Basically it is the same old story we heard again and again: USA government is controlled by a military-industrial complex (MIC).
In this interview, Peter has thrown in a lot of supporting evidence. The very existence of the Deep State has destabilized the Democratic state of USA.
An example he cited is the sponsorship of the Islamic extremist in Afghan back in the 80’s. The whole goal of the exercise is to, in Zbigniew Brzezinsk’s word, “to give USSR their Vietnam”. The idea was strongly opposed by the State Department, but it was still carried out at the end by the CIA. The Democratic State (the elected President and his cabinet) simply could not stop the clandestine operations.
USSR, in hindsight, would eventually collapse given the mismanagement of her economic activities. However, the hawks in the MIC wanted a total victory. Eventually USA reaped what she sowed: the Islamic extremist, led by bin Laden, struck USA in downtown New York.
In this interview, Professor Steven Chu has mentioned how important that modern equipment has allowed him to “see” and hence led to new discovery physics.
A similar theme was also covered by Benoit Mandelbrot in one of his interview, which unfortunately I cannot locate the relevant resource now. In the interview he said his development of factual theory is in part made possible due to advance in computer graphic.
Recent advance in Cognitive Psychology are in no small part brought along by the use of fMRI on human brain.
This is why the developed world has such an advantage in science R&D. Having new mean to see and explore new dimension in the world around us is instrumental to new scientific discovery. Few developing countries have both the financial strength and human capital to build this capability. Thinks: how many nations on earth has atomic accelerators?
Quote from Hong Kong Economic Journal:
證明泡沫在一片悲觀中膨脹，在一片樂觀中爆破 泡沫結束期股市將十分寧靜，鰠進入寧靜期之前則必然有多次反彈，叫做牛陷阱（Bull traps） 狂牛往往粛極度熱鬧時死亡，而巨熊死前則好寧靜。
Translation:
It proves that a Bubble forms amid permissim, and busts when optimism finally prevails.
When a Bubble is near its end, the stock market becomes very quiet. But before entering the period of tranquillity, there are a lot of rebounce. It is known as the Bull Traps.
The raging bull dies when there is an extreme exuberance, whereas the giant bear's death preceded by quietness.