The problem with interest rates are that you are not modeling a single number, you are modeling a whole term structure, so it is a sort of different type of problem.
More Quotes from John Hull:
When interest rates are high you want the average direction in which interest rates are moving to be downward; when interest rates are low you want the average direction to be upward.John Hull
We concluded that you cannot rely on delta hedging alone. It sounds simplistic to say that now, but back then, this was the sort of thing people were only just beginning to realize.
John Hull
Alan White and I have not as yet written anything on VAR but we have done a number of consulting projects in this area and expect to do more.
John Hull
I think VAR is a very healthy development within the industry.
John Hull
I didn't become interested in derivatives until 1982, 1983.
John Hull
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