Friday 13 April 2012

The maturity structure of uncertainty

Occupy yourself with minute detail
how the world becomes the world
ink on paper and light on light a noun

that goes beyond gesture that sharp
recognition or come-hither
when you pick the page take stock

asses the risk premium surface of variance
and where am I going with this. Alice.
A line of pilgrims at the end of the line —

All that is straight lies. All truth is crooked
or at least reversion to the mean.
It’s vertigo. It’s a catenary the shape of a weighted cable

or a chain. It’s if things change this much the information content of the term structure of error.
It’s a black scarf flung over the shoulder and flung again
the key idea to hedge perfectly in just the right way and consequently —