Because the return on a bond is not just based on the expected risk, but also on the time value of money (generally we prefer consumption now rather than in the future).
The time value of money is the expected risk of inflation. For example, if a lender lends someone $100, then the interest rate is a combination of the risk of not being paid back, and the return that could have been had if the same $100 were invested elsewhere (with the same risk profile of the original investment).
> The time value of money is the expected risk of inflation.
I don't think that's the only source of time value of money.
For example, I'm fairly certain I can buy a car for the same price a year from now, but I am willing to pay a huge premium to have the car now so I don't have to ride the bus for two hours a day while I save up the cash to pay for it.
That is a preference for present consumption over future consumption that has nothing to do with inflation.
Consumption and investment are the same thing in a generalized model when comparing returns and figuring out how much interest to charge to keep up with inflation.
But those two possible uses of money have different profiles. You would have to price in how much it is worth to you to use the car vs the bus, subtract the amortization of the car - and together that's the target rate/yield that you should ask for your money plus risk of default.
Exactly, and the world is awash in goods. The only returns are in some real estate markets, where inflation is called appreciation and is underwritten by “greater fools.”
Last time I’d read into it, statins didn’t move mortality numbers for most members of the population.
Edit: they do decrease your risk of a heart attack a bit, but the increased incidence of cancer and diabetes actually eliminates the benefit for most users. The only people who showed any measurable reduction in mortality were non-elderly patients with a history of cardiovascular disease.
Not all mortality risk operates through cholesterol-dependent mechanisms. And even for those that do, decades of exposure to high cholesterol can’t be totally reversed by medications.
Ultimately you want a readout of CAD risk, and we know that only a portion of CAD risk is attributable to LDL. We're always on the lookout for better biomarkers, but right now there isn't a comprehensive CAD biomarker (aside, perhaps, from coronary calcium - but we can't go around exposing everyone to radiation every year just to observe disease progression).
I can store the tick data, although I'm not storing it at the moment (I disabled it for the launch and will test the load that enabling it represents).
I use Cassandra with just 1 node for the moment.
It's kind of that, although the client doesn't talk to the exchange directly, it only talks to the backend. The backend consumes events from the different exchanges, transforms it to a common format, stores it and serves it to the client (in brief terms).
For this kind of data, I'd actually use a Time Series Database like ElasticSearch, InfluxDB, or Riak. They're built for data like this. We're using ElasticSearch at work and it's been wonderful.
How does the email validation work internally?