Early Grey Tea, can be refreshing, but, it gives me a terrible headache.
I don't know why?
Must be the oil of bergamot orange extractions added to the tea? @TheCoffeeBean
Compared to Earl Grey, the Lady Grey Tea, which is the Russian Version of this condiment mixed with black tea, can bring on more complex flavours.
Tea Tasting is very much like Wine or Tobacco Tasting.
You require special training and skills.
It is a highly-priced niche profession.
Yes, but what some aficionados of tea won't tell you, is that you should NOT ADD MILK to certain types.
I have seen Matcha Tea Frappuccino, and Green Tea Lattes, etc.
If you travel to the Middle East, Iran or even SE-Asia, you will that people seldom add milk to their black tea.
In South Asia, UK and across the Commonwealth, not adding milk into your black tea is considered some kind of cultural and social heresy!
Well, my grandparents told me before I was embarking upon my educational journey to the United Kingdom, that the only thing we share in common with the #English is adding milk to our tea.
Of course, the greatest contributions of the English to their colonies has been two-fold.
One, the application of the Common Law, and two, the habit of drinking tea and three, the bicameral political system, which is referred to as the parliamentary form of government.
of course, what the #Colonialists didn't tell us was that the Roles of the #Cabinet Secretary, and the Private Secretary to the Prime Minister, is mercurial at best and influence surpasses that of the selected ministers and the advisors 😃
three fold!
Pardon the typo.
we need to do more research on the effects of hot drinks on civil service models and systems.
My friend, a bureaucrat, once jokingly remarked that had our civil services been a coffee drinking outfit, the higher levels of caffeine could have added more to the efficiency levels.
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The Psychology of Human Misjudgement - Charlie Munger Full Speech via @YouTube
well, if one can get around the accounting and auditing systems, you can commit fraud on a massive scale.
That is what rogue traders do!
But, financial institutions have invested big time in hiring quants who can write codes and Greek symbols which board members don't comprehend
It's brilliant if your standard fraud risk assessor aka auditor and the quantitative risk manager can use the #Benford#Law to identify, proactively measure and control fraud risk-related predicate financial crimes.
But, first, do the basic work, before leapfrogging.
What some fertile minded students are unable to distinguish is that these disciplines are NOT THE SAME->
Anthropology & Sociology
Mythology & History
Philosophy & Logic
Architecture & Interior Design
Geography & Geology
Earth Science & Atmospheric Sci
Cosmology & Astrophysics
NOT THE SAME->
Broadcasting & Media Studies
Structural Engineering & Civil Engineering
Risk Management & Audits
Maths & Statistics
Computing & Information Sci
Econophysics & Econometrics
Occupational Safety & Occupational Therapy
Telecommunications & ICT
Technology & IT
Psychology & Psychiatry
Neuroscience & Behavioural Sci
Linguistics & Language studies
Pharmacognosy & Pharmacy
Nueromedicine & Neuroscience
Machine Learning & Data Sci
Deep Learning & Analytics
Business Intelligence & Artificial Intelligence
Operations Research & Decision Sci
Basel I, II, III: evolution of global banking regulation via @YouTube
It was interesting to watch this discussion.
Even the participants agreed to the fact that Basel Accords are a complete exercise in futility.
What might happen tomorrow is not known even to the best minds working in the area of financial bank risk management.
Being a risk management professional, I can very well understand how rogue traders can wreak havoc! the concept of having a Middle Office came into existence after the Baring fallout. Middle Office is supposed to check and re-check all transactions in real-time and at the close
Every socio-economic, political, legal, natural disaster, man-made disaster, or another process, which leads to a negative outcome must be recorded and taxonomized as an incident having material or near-miss risk characteristics, in the right category box in the risk register.
Modern #ERM & Traditional Risk Management are getting more and divided.
ERM is not just about Operational Loss Management and Materiality Assessment based on Assurance and Risk Review drove Internal Controls and Testing, but, it goes beyond that! @IASassociation@TheIIA@BIS_org
More and more #Analytics is being used in both Auditing and Risk management, to understand the organizational dynamics of commercial strategy and the vulnerabilities associated thereof.
Especially the design, inserting and removal of Internal Controls is an analytical exercise.
This post is part two of a series of reading lists for beginning quantitative analysts.
Quant Reading List Derivative Pricing
This post is part of a series of reading lists for beginning quantitative analysts. Other posts in the series concentrate on C++ Programming, Numerical Methods and Python Programming.