NORMAN J CLEMENT RPH., DDS, NORMAN L. CLEMENT PHARM-TECH, MALACHI F. MACKANDAL PHARMD, BELINDA BROWN-PARKER, IN THE SPIRIT OF JOSEPH SOLVO ESQ., INC.T. SPIRIT OF REV. IN THE SPIRIT OF WALTER R. CLEMENT BS., MS, MBA. HARVEY JENKINS MD, PH.D., IN THE SPIRIT OF C.T. VIVIAN, JELANI ZIMBABWE CLEMENT, BS., MBA., IN THE SPIRIT OF THE HON. PATRICE LUMUMBA, IN THE SPIRIT OF ERLIN CLEMENT SR., EVELYN J. CLEMENT, WALTER F. WRENN III., MD., JULIE KILLINGSWORTH, RENEE BLARE, RPH, DR. TERENCE SASAKI, MD LESLY POMPY MD., CHRISTOPHER RUSSO, MD., NANCY SEEFELDT, WILLIE GUINYARD BS., JOSEPH WEBSTER MD., MBA, BEVERLY C. PRINCE MD., FACS., NEIL ARNAND, MD., RICHARD KAUL, MD., IN THE SPIRIT OF LEROY BAYLOR, JAY K. JOSHI MD., MBA, AISHA GARDNER, ADRIENNE EDMUNDSON, ESTER HYATT PH.D., WALTER L. SMITH BS., IN THE SPIRIT OF BRAHM FISHER ESQ., MICHELE ALEXANDER MD., CUDJOE WILDING BS, MARTIN NJOKU, BS., RPH., IN THE SPIRIT OF DEBRA LYNN SHEPHERD, BERES E. MUSCHETT, STRATEGIC ADVISORS
THE ENLIGHTENMENT
Moreover, the ToK System elucidates how science emerges from culture, with specific epistemological assumptions and methodologies serving to justify scientific ontology. Framework underpins the domains of the physical, biological, psychological, and epistemological social sciences, mapping the dimensions of matter, life, mind, and culture onto scientific inquiry.
ON·TOL·O·GY
noun: ontology; plural noun: ontologies
PHILOSOPHY
- 1. the branch of metaphysics dealing with the nature of being.
- 2. a set of concepts and categories in a subject area or domain that shows their properties and the relations between them.” what’s new about our ontology is that it is created automatically from large datasets.”
e·pis·te·mo·log·i·cal
/iˌpistəməˈläjəkəl/
adjective
PHILOSOPHY
- relating to the theory of knowledge, especially its methods, validity, and scope, and the distinction between justified belief and opinion.” what epistemological foundation is there for such artificial discrimination?”
The Tree of Knowledge System offers a comprehensive and integrated approach to understanding reality, bridging the gap between scientific knowledge and human understanding in the 21st century.
RISK MANAGEMENT IS A FLAWED TOOL OF DESIGN THAT OFTEN NEGATES OVERALL HEALTHCARE DELIVERY
Portfolio insurance is a financial strategy that limits stock portfolio losses while maintaining potential gains. It became trendy in the 1980s as a form of risk management, especially among institutional investors like pension funds and mutual funds.
The strategy typically involves dynamic hedging, using derivatives, such as stock index futures and options, to protect against stock market declines.
BLACK-SCHOLES: THE EQUATION THAT STRANGLED WALL STREET AND AMERICAN HEALTHCARE
In the aftermath, the role of portfolio insurance became a key area of debate. While it was intended to mitigate risk, its mechanical selling triggered massive volatility, highlighting the dangers of relying too heavily on automated strategies in volatile markets. As discussed, portfolio insurance involves dynamic hedging strategies to protect portfolios from significant losses.
These strategies often relied on derivatives, particularly options and futures.
The mechanics of portfolio insurance were built on theoretical models like the Black-Scholes formula, which provides a mathematical framework for pricing options.
The Black-Scholes model, developed by Fischer Black, Myron Scholes, and Robert Merton in the early 1970s, revolutionized the pricing of options.
It provided a formula for calculating the fair value of options, considering factors such as the stock price, strike price, time to expiration, interest rates, and volatility.
The model assumes that markets are efficient, that prices follow a lognormal distribution and evolve smoothly without jumps, that volatility is constant over time, and that there are no transaction costs or liquidity issues.
The 1987 crash demonstrated the limits of these models, especially in extreme market conditions. Portfolio insurance’s reliance on automated selling created a feedback loop that exacerbated the crash.
The events of 1987 exposed the flaws in using such strategies without accounting for liquidity risks and the impact of crowd behavior (many players simultaneously acting similarly).
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