BRIQ Newsletter

Example Page 1

Sun, 05 May 2019 00:00:00 +0100

In this tutorial, I’ll share my top 10 tips for getting started with Academic:

Tip 1

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Tip 2

Example Page 2

Sun, 05 May 2019 00:00:00 +0100

Here are some more tips for getting started with Academic:

Tip 3

Tip 4

BRIQ Volume 25.4 (December 31, 2025)

Sat, 05 Apr 2025 00:00:00 +0000

BRIQ Newsletter Volume 25.4 (December 31, 2025)

BRIQ Volume 25.3 (September 30, 2025)

Fri, 04 Apr 2025 00:00:00 +0000

BRIQ Newsletter Volume 25.3 (September 30, 2025)

BRIQ Supplement Materials

Mon, 06 Jan 2025 00:00:00 +0000

BRIQ Supplement Volume 25.4 (December 31, 2025)
BRIQ Supplement Volume 25.3 (September 30, 2025)
BRIQ Supplement Volume 25.2 (June 30, 2025)
BRIQ Supplement Volume 25.1 (March 31, 2025)
BRIQ Supplement Volume 24.4 (December 31, 2024)

Prior BRIQ Newsletters

Sun, 05 Jan 2025 00:00:00 +0000

BRIQ Newsletter Volume 25.2 (June 30, 2025)
BRIQ Newsletter Volume 25.1 (March 31, 2025)
BRIQ Newsletter Volume 24.4 (December 31, 2024)

White Papers

Sun, 02 Jun 2024 00:00:00 +0000

The following are BRI-related editorials providing thought provoking perspectives from the unique vantage point of a 40 year stint in academic finance (3 years in a PhD program and 37 years as a professor) coupled with being a follower of Jesus Christ. Obviously, any deviations from biblical theology are solely the responsibility of the author. Every effort is made to be faithful to the Christian worldview while engaging in various finance topics.

These are “living” documents in that they will be refined over time. Your feedback would be greatly appreciated. You are welcome to forward these documents, but please respect the copyright. If you are a publisher, please contact me directly.

Op-Ed 25-O2: BRI DFA Case Study compares one positivist application within investments—DFA funds—with one normative application—BRI funds. Bottom line: The investment performance over the past year is roughly similar. Thus, based on this anecdotal evidence, Christian investors are warranted in voting with their wallets as they choose BRI-based funds over other alternatives, even those alternatives asserting Nobel Prize winner-based “financial science.”

Op-Ed 25-O1: Religious Accommodation Within DC Plans provides justification for Christians to seek religious accommodation within defined contribution plans. Religious accommodation through the brokerage window is a low-cost, high-impact solution that aligns with regulatory guidance, fiduciary principles, and participant values. It is not just permissible—it is prudent.

Op-Ed 24-O5: From Jesus to Wall Street: Harnessing the Christian Worldview for Wiser Investments contrasts the worldviews of naturalism and Christianity with a primary focus on investments. Further, this article is a more detailed response to Drew Estes’ From Darwin to Wall Street: Harnessing Evolutionary Theory for Smarter Investments. A concise rebuttal based on theism is given in the article From Darwin to Wall Street: A Rebuttal available at Enterprising Investor ( https://blogs.cfainstitute.org/investor/ (05 November 2024)). This article is more focused on Christianity rather than theism though it borrows heavily from the rebuttal article.

Op-Ed 24-O4: Tigers and Ghosts: Distinguishing Between Financial Risk and Uncertainty focuses on financial decision-making. With these decisions, there is typically the challenge of managing future uncertainties. The goal here is to connect the historical shift from managing uncertainty to managing risk with the ultimate question of ownership. If the Christian worldview is correct, then we are resource managers and not owners. This is a profound shift as it requires understanding the desires and preferences of the owner to make improved financial decisions.

Op-Ed 24-O3: Economic Prediction and the Christian Worldview explores the limits of economic prediction within the context of personal investing, specifically from a Christian worldview. We conclude that great caution should be exercised when making financial decisions based on one’s economic predictions. As a rule, we are much better off in our financial decisions when based on the humble admission that our own economic predictions are most often severely flawed. Significant improvement to our personal wealth is likely when starting with the following assumption: Better financial decisions are made when conceding little, if any, economic forecasting ability.

Op-Ed 24-O2: ESG or ESV: Implications for Firm Structure identifies two distinct firm structures that are drawn from these two perspectives. Specifically, two mutually exclusive theories of the firm are reviewed, environmental, social, and governance (ESG)-based and enhancing shareholder value (ESV)-based. Biblically, we know God is the owner of everything, including financial instruments. Further, there is ample evidence of a God-orchestrated hierarchical structure. Adam and Eve were to serve in a fiduciary capacity to manage God’s resources in a prescribed manner complete with responsibilities and restrictions. In many respects, it is the fact of human’s being created in God’s image (Latin: imago dei) that separates an ESV-focus and an ESG-focus.

Op-Ed 24-O1: Biblically Responsible Investing Within Efficient Markets is a call for the BRI community to birth a “Virtuous Vanguard.” With the emergence and maturation of the Biblically Responsible Investing (BRI) community, the time has come to create BRI-based instruments (e.g., ETFs) that combine the low cost, passive investment approaches with some form of “Mere Christianity” vetting.

Published Op-Eds and Other Testimonies:

“It Takes A Voluntary Village,” National Review, (July 28, 2021), online edition, https://www.nationalreview.com/2021/07/it-takes-a-voluntary-village/. Accepted in July 2021.

“Restoring the Crumbling Foundations of Corporate America,” National Review, (May 7, 2021), online edition, https://www.nationalreview.com/2021/05/restoring-the-crumbling-foundations-of-corporate-america/.

Technical Details

Mon, 08 Jan 2024 00:00:00 +0000

Free downloadable technical details document (presently a very rough draft):
BRIQ Technical Manual Draft

Building Quantitative Finance Applications with R

Sat, 06 Jan 2024 00:00:00 +0000

Building Quantitative Finance Applications with R, is offered with two goals: First, assist financial analysts in developing their own unique quantitative financial models. Second, aid in tooling these analysts to express their models with the R computer language. Both goals are now easily within reach of the aspiring financial analyst. Every effort is made here to keep the R programming elementary .

Thus Building Quantitative Finance Applications with R is written to assist financial analysts to quickly learn to express their ideas in the R computer language.

Also quantitative finance is now widely applied in a variety of career fields. Quantitative financial analysts are now needed in a variety of different arenas. The ability for these analysts to express their own ideas in R is a highly valued skill.

Finance is a social science. Thus, as ideas about how certain financial products should be valued and managed evolve, the actual value and risk properties also change. Therefore, there will never be a “theory of everything” in finance. More likely, we should be surprised if there ever appears a “theory of anything” that endures for very long.

Because of the dynamic nature of financial markets, financial analysts need to be able to rapidly adapt their valuation and risk management models to changing times. Rather than rely on faulty communication between analysts and professional programmers, financial analysts can express their ideas in prototype R code. This ability dramatically reduces errors and allows financial analysts greater precision in expressing their ideas.

Building Quantitative Finance Applications with R is written for college students and entry-level financial analysts. No prior knowledge of programming is assumed. As with any language, having access to multiple sources when learning technical material is highly recommended. Therefore, it is assumed that you have access to several introductory R books or similar web-based materials.

There are several other books linking quantitative finance with computer programming. The approach taken here is distinctly different. Rather than present state-of-the-art programming techniques, we use only elementary R. Rarely do financial analysts want to become professional programmers. Rather, they want to rapidly learn how to express their unique analytical ideas in a form that the computer can run. Therefore, we focus on the minimal set of computer programming tools necessary to perform this task.

Although the book form is undecided, the expected publication date is early 2024. There is a YouTube Channel dedicated to presenting this material even though the book is not finished. Please consider subscribing (and liking) @FRMHelpForYou. Channel direct link: https://www.youtube.com/@FRMHelpForYou

Supporting materials as new YouTube videos are posted is found here:

Chapter 1: Introduction (8/24/23)
Chapter 1 Zip File

YouTube Video Links for Chapter 1 Introduction
Chapter 1, Part 1 (Introduction):
https://www.youtube.com/watch?v=W1zZaf8NtF4
Chapter 1, Part 2 (Reasons):
https://www.youtube.com/watch?v=WW55KnZaoZA
Chapter 1, Part 3 (Why R):
https://www.youtube.com/watch?v=whOpDuCEwsk
Chapter 1, Part 4 (R Code):
https://www.youtube.com/watch?v=YYV91ZcNqJg

Chapter 2: Approaches to Valuation (8/28/23)
Chapter 2 Zip File

YouTube Video Links for Chapter 2 Approaches to Valuation
Chapter 2, Part 1 (Introduction):
https://www.youtube.com/watch?v=41k6-NqcurE
Chapter 2, Part 2 (MCA):
https://www.youtube.com/watch?v=SJ2HzTntDgc
Chapter 2, Part 3 (CFAA):
https://www.youtube.com/watch?v=slJ-_EUyumU
Chapter 2, Part 4 (DFAA):
https://www.youtube.com/watch?v=55MwgA41DX4
Chapter 2, Part 5 (R Code):
https://www.youtube.com/watch?v=4O5n8YbZ-GQ

Chapter 3: Quantitative Finance Tools (8/30/23)
Chapter 3 Zip File

YouTube Video Links for Chapter 3 Tools
Chapter 3, Module 1 (Calendar):
https://www.youtube.com/watch?v=wL4a3v-d8Hg
Chapter 3, Module 2 (CDF):
https://www.youtube.com/watch?v=niZOKgJrrb0
Chapter 3, Module 3 (Univariate Random Number Generation):
https://www.youtube.com/watch?v=mlHBom0nlCQ
Chapter 3, Module 4, Part 1 (LSC):
https://www.youtube.com/watch?v=732V_KISTv4
Chapter 3, Module 4, Part 2 (LSC and Rates):
https://www.youtube.com/watch?v=HkTHA6Nvl6g
Chapter 3, Module 4, Part 3 (R Code):
https://www.youtube.com/watch?v=JP6OvNBLZeo
Chapter 3, Module 5 (Sorting):
https://www.youtube.com/watch?v=_RVwEhnqWTw
Chapter 3, Module 6 (Embedded Parameters):
https://www.youtube.com/watch?v=sQ8a7Xd_kP0
Chapter 3, Module 7, Part 1 (Lognormal and Normal Distributions):
https://www.youtube.com/watch?v=pFOlYMxpvZo
Chapter 3, Module 7, Part 2 (Illustrations, R Code):
https://www.youtube.com/watch?v=PwpEqF1CNik

Chapter 4: Valuation Bonds and Stocks (9/1/23)
Chapter 4 Zip File

YouTube Video Links for Chapter 4 Valuation Bonds and Stocks
Chapter 4, Module 1, Part 1 (UST):
https://www.youtube.com/watch?v=mjUqTu06vo8
Chapter 4, Module 1, Part 2 (UST, LSC, R Code):
https://www.youtube.com/watch?v=emZd30Wejjk
Chapter 4, Module 2, Part 1 (Corporate Bonds):
https://www.youtube.com/watch?v=CsycS7MLsXo
Chapter 4, Module 2, Part 2 (Corporate Bonds):
https://www.youtube.com/watch?v=FnVxRB4dpVg
Chapter 4, Module 3, Part 1 (Stocks):
https://www.youtube.com/watch?v=OjYAPFvlLZM
Chapter 4, Module 3, Part 2 (Stocks and LSC):
https://www.youtube.com/watch?v=5nm2F_wyTAU
Chapter 4, Module 3, Part 3 (Stocks):
https://www.youtube.com/watch?v=Q-_BAHknbIg

Chapter 5: Valuation Options (9/12/23)
Chapter 5 Zip File

YouTube Video Links for Chapter 5 Valuation Options
Chapter 5, Module 1, Part 1 (Boundaries and Parities):
https://www.youtube.com/watch?v=KS1xUUV4i8M
Chapter 5, Module 1, Part 2 (Boundaries and Parities):
https://www.youtube.com/watch?v=dr_1PSxp7Gk
Chapter 5, Module 1, Part 3 (Boundaries and Parities):
https://www.youtube.com/watch?v=8FIj_NOuspo
Chapter 5, Module 2, Part 1 (GBM-Based Binomial):
https://www.youtube.com/watch?v=rPpN40yCtus
Chapter 5, Module 2, Part 2 (GBM-Based Binomial):
https://www.youtube.com/watch?v=5vuSwqyiV5c
Chapter 5, Module 2, Part 3 (GBM-Based Binomial):
https://www.youtube.com/watch?v=Rmds2Iula_I
Chapter 5, Module 3, Part 1 (ABM-Based Binomial):
https://www.youtube.com/watch?v=AMM4HMJfCF4
Chapter 5, Module 3, Part 2 (ABM-Based Binomial):
https://www.youtube.com/watch?v=KHh635KEXlg
Chapter 5, Module 4, Part 1 (GBMOVM):
https://www.youtube.com/watch?v=1a-Jnmc4zUQ
Chapter 5, Module 5, Part 1 (ABMOVM):
https://www.youtube.com/watch?v=NUAuYnOJEEE
Chapter 5, Module 5, Part 2 (ABMOVM):
https://www.youtube.com/watch?v=0vDZXzADCAQ
Chapter 5, Module 6, Part 1 (Implied Parameters):
https://www.youtube.com/watch?v=JeYYdNYWdfU
Chapter 5, Module 7, Part 1 (GBM Compound OVM):
https://www.youtube.com/watch?v=aXfst-ANBw8

Chapter 6: Valuation Forwards, Futures, and Swaps (10/4/23)
Chapter 6 Zip File

YouTube Video Links for Chapter 6 Valuation Forwards, Futures, and Swaps
Chapter 6, Module 1, Part 1 (Stock Index Futures):
https://www.youtube.com/watch?v=hcI368FQsqo
Chapter 6, Module 1, Part 2 (Stock Index Futures):
https://www.youtube.com/watch?v=ZhmExo7I5Ig
Chapter 6, Module 2, Part 1 (Other Futures):
https://www.youtube.com/watch?v=Q3xJnG3Bq1A
Chapter 6, Module 3, Part 1 (Swaps):
https://www.youtube.com/watch?v=UiGmomig434
Chapter 6, Module 3, Part 2 (Swaps):
https://www.youtube.com/watch?v=yjhvsWkVfqc

Chapter 7: Static Risk Measures Bonds and Stocks (11/14/23)
Chapter 7 Zip File

YouTube Video Links for Chapter 7 Static Risk Measures Bonds and Stocks
Chapter 7, Module 1, Part 1 (Centered Differencing):
https://www.youtube.com/watch?v=udDS8jt1j6Y
Chapter 7, Module 2, Part 1 (US Treasuries):
https://www.youtube.com/watch?v=wsGnUzP6J1c
Chapter 7, Module 2, Part 2 (US Treasuries):
https://www.youtube.com/watch?v=7X13kldEHL8
Chapter 7, Module 2, Part 3 (US Treasuries):
https://www.youtube.com/watch?v=-m6HLp3YR0w
Chapter 7, Module 3, Part 1 (Corporate Bonds):
https://www.youtube.com/watch?v=yVmkTFDcPOU
Chapter 7, Module 4, Part 1 (Stocks):
https://www.youtube.com/watch?v=-f9KBDG4d28
Chapter 7, Module 4, Part 2 (Stocks):
https://www.youtube.com/watch?v=5COvCm2r1R8

Chapter 8: Static Risk Measures Options (11/15/23)
Chapter 8 Zip File

YouTube Video Links for Chapter 8 Static Risk Measures Options
Chapter 8, Module 1, Part 1- (Boundaries and Parities):
To Be Released Soon
Chapter 8, Module 2, Part 1- (GBM-Based Binomial):
To Be Released Soon
Chapter 8, Module 3, Part 1- (ABM-Based Binomial):
To Be Released Soon
Chapter 8, Module 4, Part 1 (GBMOVM):
To Be Released Soon
Chapter 8, Module 5, Part 1 (ABMOVM):
To Be Released Soon
Chapter 8, Module 6, Part 1 (Implied Parameters):
To Be Released Soon
Chapter 8, Module 7, Part 1 (GBM Compound OVM):
To Be Released Soon

Chapter 9: Static Risk Measures Forwards, Futures, and Swaps (11/15/23)
Chapter 9 Zip File

YouTube Video Links for Chapter 9 Static Risk Measures Forwards, Futures, and Swaps
Chapter 9, Module 1, Part 1- (Stock Index Futures):
To Be Released Soon
Chapter 9, Module 2, Part 1- (Other Futures):
To Be Released Soon
Chapter 9, Module 3, Part 1- (Swaps):
To Be Released Soon

Chapter 10: Dynamic Risk Measures Tools and Techniques (12/11/23)
Chapter 10 Zip File

YouTube Video Links for Chapter 10 Dynamic Risk Measures Tools and Techniques
Chapter 10, Module 1, Part 1 (Multivariate Random Numbers):
To Be Released Soon
Chapter 10, Module 2, Part 1- (Value-at-Risk):
To Be Released Soon

Chapter 11: Dynamic Risk Measures Bonds and Stocks (12/11/23)
Chapter 11 Zip File

YouTube Video Links for Chapter 11 Dynamic Risk Measures Bonds and Stocks
Chapter 11, Module 1, Part 1 (Centered Differencing):
To Be Released Soon
Chapter 11, Module 2, Part 1- (US Treasuries):
To Be Released Soon
Chapter 11, Module 3, Part 1- (Corporate Bonds):
To Be Released Soon
Chapter 11, Module 4, Part 1- (Stocks):
To Be Released Soon

Chapter 12: Dynamic Risk Measures Options (12/11/23)
Chapter 12 Zip File

YouTube Video Links for Chapter 12 Dynamic Risk Measures Options
Chapter 12, Module 1, Part 1- (Boundaries and Parities):
To Be Released Soon
Chapter 12, Module 2, Part 1- (GBM-Based Binomial):
To Be Released Soon
Chapter 12, Module 3, Part 1- (ABM-Based Binomial):
To Be Released Soon
Chapter 12, Module 4, Part 1 (GBMOVM):
To Be Released Soon
Chapter 12, Module 5, Part 1 (ABMOVM):
To Be Released Soon
Chapter 12, Module 6, Part 1 (Implied Parameters):
To Be Released Soon
Chapter 12, Module 7, Part 1 (GBM Compound OVM):
To Be Released Soon

Chapter 13: Dynamic Risk Measures Forwards, Futures, and Swaps (01/04/24)
Chapter 13 Zip File

YouTube Video Links for Chapter 13 Dynamic Risk Measures Forwards, Futures, and Swaps
Chapter 13, Module 1, Part 1- (Stock Index Futures):
To Be Released Soon
Chapter 13, Module 2, Part 1- (Other Futures):
To Be Released Soon
Chapter 13, Module 3, Part 1- (Swaps):
To Be Released Soon

Chapter 14: Portfolio Issues (01/04/24)
Chapter 14 Zip File

YouTube Video Links for Chapter 13 Dynamic Risk Measures Forwards, Futures, and Swaps
Chapter 14, Module 1, Part 1- (Portfolio Risk Management):
To Be Released Soon
Chapter 14, Module 2, Part 1- (Return Attribution):
To Be Released Soon
Chapter 14, Module 3, Part 1- (Risk Attribution):
To Be Released Soon
Chapter 14, Module 4, Part 1- (Keel Model):
To Be Released Soon

Glossary

Sat, 06 Jan 2024 00:00:00 +0000

Free downloadable glossary:
BRIQ Glossary

Foundations of the Pricing of Financial Derivatives Theory and Analysis

Fri, 30 Jun 2023 00:00:03 +0000

Introduction to Derivatives and Risk Management

Fri, 30 Jun 2023 00:00:02 +0000

The book delivers detailed coverage of options, futures, forwards, swaps, and risk management as well as a balanced introduction to pricing, trading, and strategy. New “Taking Risk in Life” features illustrate the application of risk management in real-world financial decisions. In addition, the financial information throughout the Tenth Edition reflects the most recent changes in the derivatives market–one of the most volatile sectors in the financial world.

Building Financial Risk Management Applications with C++

Fri, 30 Jun 2023 00:00:01 +0000

The purpose of this book is not to provide state-of-the-art C++ programming techniques. The purpose of this book is also not to provide state-of-the-art financial risk management techniques. Financial quantitative analysts (Quants) often lack the foundational understanding of financial risk management as well as basic C++ programming. Many quants have studied the graduate level financial derivatives textbooks and passed various financial risk management-type examinations. They have not, however, seen how to actually deploy these ideas in practice. Thus, I seek to fill this void by providing a launching pad where quantitative finance professionals can connect the dots between abstract theoretical finance concepts and prototype code that could be used to implement various financial risk management ideas.

The purpose here is to provide as simple an approach as possible to enable financial analysts to develop prototype implementation C++ code of their financial risk management ideas. Dynamic memory allocation, abstract data types, container classes, and so forth are left to the computer programming professionals. The objective of this book is to provide assistance for quantitative finance professionals who wish to implement their emerging financial risk management ideas with C++. We focus on introducing financial risk management with C++ because many of the modern financial risk management concepts require some form of computer program to successfully implement.

Computer programming is a unique, disciplined implementation of ideas. In this chapter, several reasons why financial analysts should learn a computer language are reviewed. In particular, the case will be made for C++ and it will be briefly introduced. Finally, the autonomous (compiler independent) and heteronomous (compiler dependent) approaches to teaching C++ are explored. This material takes the atypical heteronomous approach while remaining sympathetic to those learners who prefer the more popular autonomous approach.

Samuelson Hypothesis, Arbitrage Activity, and Futures Term Premiums

Fri, 30 Jun 2023 00:00:01 +0000

Foundations of Pricing Financial Derivatives

Sat, 24 Jun 2023 00:00:00 +0000

Foundations of Pricing Financial Derivatives: Theory and Analysis is written as a PhD-level book focusing on one of the most technical subjects in finance—derivative pricing theory. While the majority of finance faculty and PhD students will not specialize in derivatives, there is no doubt that a solid understanding of derivative pricing theory is an important element of doctoral level education in finance.

Derivative pricing theory, in particular the Black–Scholes–Merton (1973) model, has had a tremendous impact on finance. It has provided a framework for understanding not only standard derivatives, such as options, forwards, futures, and swaps, but it has also shown us that derivatives can explain many other topics and relationships in finance, such as callable bonds, convertible bonds, credit risk, and corporate capital structure. The impact of derivative pricing theory has been so great that Nobel Prizes were awarded in 1995 to Myron Scholes and Robert Merton with special recognition to the late Fischer Black for work on this subject. Yet, with the increasing need for students to take so many courses in econometrics and statistics, there is often little room in a doctoral program for such a course.

Foundations of Pricing Financial Derivatives: Theory and Analysis will introduce the vast financial derivatives markets to PhD students in hopes that it will stimulate your interest in research related to financial derivatives as well as aid in your future research agenda, even if your agenda is not explicitly financial derivatives.

The expected publication date is January 2024.

Writing technical content in Academic

Fri, 12 Jul 2019 00:00:00 +0000

Academic is designed to give technical content creators a seamless experience. You can focus on the content and Academic handles the rest.

Highlight your code snippets, take notes on math classes, and draw diagrams from textual representation.

On this page, you’ll find some examples of the types of technical content that can be rendered with Academic.

Examples

Code

Academic supports a Markdown extension for highlighting code syntax. You can enable this feature by toggling the highlight option in your config/_default/params.toml file.

```python
import pandas as pd
data = pd.read_csv("data.csv")
data.head()
```

renders as

import pandas as pd
data = pd.read_csv("data.csv")
data.head()

Math

Academic supports a Markdown extension for $\LaTeX$ math. You can enable this feature by toggling the math option in your config/_default/params.toml file.

To render inline or block math, wrap your LaTeX math with $...$ or $$...$$, respectively.

Example math block:

$$\gamma_{n} = \frac{ 
\left | \left (\mathbf x_{n} - \mathbf x_{n-1} \right )^T 
\left [\nabla F (\mathbf x_{n}) - \nabla F (\mathbf x_{n-1}) \right ] \right |}
{\left \|\nabla F(\mathbf{x}_{n}) - \nabla F(\mathbf{x}_{n-1}) \right \|^2}$$

renders as

$$\gamma_{n} = \frac{ \left | \left (\mathbf x_{n} - \mathbf x_{n-1} \right )^T \left [\nabla F (\mathbf x_{n}) - \nabla F (\mathbf x_{n-1}) \right ] \right |}{\left |\nabla F(\mathbf{x}{n}) - \nabla F(\mathbf{x}{n-1}) \right |^2}$$

Example inline math $\nabla F(\mathbf{x}_{n})$ renders as $\nabla F(\mathbf{x}_{n})$.

Example multi-line math using the \\\\ math linebreak:

$$f(k;p_0^*) = \begin{cases} p_0^* & \text{if }k=1, \\\\
1-p_0^* & \text {if }k=0.\end{cases}$$

renders as

$$f(k;p_0^) = \begin{cases} p_0^ & \text{if }k=1, \\ 1-p_0^* & \text {if }k=0.\end{cases}$$

Diagrams

Academic supports a Markdown extension for diagrams. You can enable this feature by toggling the diagram option in your config/_default/params.toml file or by adding diagram: true to your page front matter.

An example flowchart:

```mermaid
graph TD
A[Hard] -->|Text| B(Round)
B --> C{Decision}
C -->|One| D[Result 1]
C -->|Two| E[Result 2]
```

renders as

graph TD
A[Hard] -->|Text| B(Round)
B --> C{Decision}
C -->|One| D[Result 1]
C -->|Two| E[Result 2]

An example sequence diagram:

```mermaid
sequenceDiagram
Alice->>John: Hello John, how are you?
loop Healthcheck
    John->>John: Fight against hypochondria
end
Note right of John: Rational thoughts!
John-->>Alice: Great!
John->>Bob: How about you?
Bob-->>John: Jolly good!
```

renders as

sequenceDiagram
Alice->>John: Hello John, how are you?
loop Healthcheck
    John->>John: Fight against hypochondria
end
Note right of John: Rational thoughts!
John-->>Alice: Great!
John->>Bob: How about you?
Bob-->>John: Jolly good!

An example Gantt diagram:

```mermaid
gantt
section Section
Completed :done,    des1, 2014-01-06,2014-01-08
Active        :active,  des2, 2014-01-07, 3d
Parallel 1   :         des3, after des1, 1d
Parallel 2   :         des4, after des1, 1d
Parallel 3   :         des5, after des3, 1d
Parallel 4   :         des6, after des4, 1d
```

renders as

gantt
section Section
Completed :done,    des1, 2014-01-06,2014-01-08
Active        :active,  des2, 2014-01-07, 3d
Parallel 1   :         des3, after des1, 1d
Parallel 2   :         des4, after des1, 1d
Parallel 3   :         des5, after des3, 1d
Parallel 4   :         des6, after des4, 1d

An example class diagram:

```mermaid
classDiagram
Class01 <|-- AveryLongClass : Cool
<<interface>> Class01
Class09 --> C2 : Where am i?
Class09 --* C3
Class09 --|> Class07
Class07 : equals()
Class07 : Object[] elementData
Class01 : size()
Class01 : int chimp
Class01 : int gorilla
class Class10 {
  <<service>>
  int id
  size()
}
```

renders as

classDiagram
Class01 <|-- AveryLongClass : Cool
<<interface>> Class01
Class09 --> C2 : Where am i?
Class09 --* C3
Class09 --|> Class07
Class07 : equals()
Class07 : Object[] elementData
Class01 : size()
Class01 : int chimp
Class01 : int gorilla
class Class10 {
  <<service>>
  int id
  size()
}

An example state diagram:

```mermaid
stateDiagram
[*] --> Still
Still --> [*]
Still --> Moving
Moving --> Still
Moving --> Crash
Crash --> [*]
```

renders as

stateDiagram
[*] --> Still
Still --> [*]
Still --> Moving
Moving --> Still
Moving --> Crash
Crash --> [*]

Todo lists

You can even write your todo lists in Academic too:

- [x] Write math example
- [x] Write diagram example
- [ ] Do something else

renders as

Write math example
Write diagram example
Do something else

Tables

Represent your data in tables:

| First Header  | Second Header |
| ------------- | ------------- |
| Content Cell  | Content Cell  |
| Content Cell  | Content Cell  |

renders as

First Header	Second Header
Content Cell	Content Cell
Content Cell	Content Cell

Asides

Academic supports a shortcode for asides, also referred to as notices, hints, or alerts. By wrapping a paragraph in {{% alert note %}} ... {{% /alert %}}, it will render as an aside.

{{% alert note %}}
A Markdown aside is useful for displaying notices, hints, or definitions to your readers.
{{% /alert %}}

renders as

A Markdown aside is useful for displaying notices, hints, or definitions to your readers.

Icons

Academic enables you to use a wide range of icons from Font Awesome and Academicons in addition to emojis.

Here are some examples using the icon shortcode to render icons:

{{< icon name="terminal" pack="fas" >}} Terminal  
{{< icon name="python" pack="fab" >}} Python  
{{< icon name="r-project" pack="fab" >}} R

renders as

Terminal
Python
R

Display Jupyter Notebooks with Academic

Tue, 05 Feb 2019 00:00:00 +0000

from IPython.core.display import Image
Image('https://www.python.org/static/community_logos/python-logo-master-v3-TM-flattened.png')

print("Welcome to Academic!")

Welcome to Academic!

Install Python and JupyterLab

Install Anaconda which includes Python 3 and JupyterLab.

Alternatively, install JupyterLab with pip3 install jupyterlab.

Create or upload a Jupyter notebook

Run the following commands in your Terminal, substituting <MY-WEBSITE-FOLDER> and <SHORT-POST-TITLE> with the file path to your Academic website folder and a short title for your blog post (use hyphens instead of spaces), respectively:

mkdir -p <MY-WEBSITE-FOLDER>/content/post/<SHORT-POST-TITLE>/
cd <MY-WEBSITE-FOLDER>/content/post/<SHORT-POST-TITLE>/
jupyter lab index.ipynb

The jupyter command above will launch the JupyterLab editor, allowing us to add Academic metadata and write the content.

Edit your post metadata

The first cell of your Jupter notebook will contain your post metadata ( front matter).

In Jupter, choose Markdown as the type of the first cell and wrap your Academic metadata in three dashes, indicating that it is YAML front matter:

---
title: My post's title
date: 2019-09-01

# Put any other Academic metadata here...
---

Edit the metadata of your post, using the documentation as a guide to the available options.

To set a featured image, place an image named featured into your post’s folder.

For other tips, such as using math, see the guide on writing content with Academic.

Convert notebook to Markdown

jupyter nbconvert index.ipynb --to markdown --NbConvertApp.output_files_dir=.

Example

This post was created with Jupyter. The orginal files can be found at https://github.com/gcushen/hugo-academic/tree/master/exampleSite/content/post/jupyter

Slides

Tue, 05 Feb 2019 00:00:00 +0000

Create slides in Markdown with Academic

Academic | Documentation

Features

Efficiently write slides in Markdown
3-in-1: Create, Present, and Publish your slides
Supports speaker notes
Mobile friendly slides

Controls

Next: Right Arrow or Space
Previous: Left Arrow
Start: Home
Finish: End
Overview: Esc
Speaker notes: S
Fullscreen: F
Zoom: Alt + Click
PDF Export: E

Code Highlighting

Inline code: variable

Code block:

porridge = "blueberry"
if porridge == "blueberry":
    print("Eating...")

Math

In-line math: $x + y = z$

Block math:

$$ f\left( x \right) = ;\frac{{2\left( {x + 4} \right)\left( {x - 4} \right)}}{{\left( {x + 4} \right)\left( {x + 1} \right)}} $$

Fragments

Make content appear incrementally

{{% fragment %}} One {{% /fragment %}}
{{% fragment %}} **Two** {{% /fragment %}}
{{% fragment %}} Three {{% /fragment %}}

Press Space to play!

One **Two** Three

A fragment can accept two optional parameters:

class: use a custom style (requires definition in custom CSS)
weight: sets the order in which a fragment appears

Speaker Notes

Add speaker notes to your presentation

{{% speaker_note %}}
- Only the speaker can read these notes
- Press `S` key to view
{{% /speaker_note %}}

Press the S key to view the speaker notes!

Themes

black: Black background, white text, blue links (default)
white: White background, black text, blue links
league: Gray background, white text, blue links
beige: Beige background, dark text, brown links
sky: Blue background, thin dark text, blue links

night: Black background, thick white text, orange links
serif: Cappuccino background, gray text, brown links
simple: White background, black text, blue links
solarized: Cream-colored background, dark green text, blue links

Custom Slide

Customize the slide style and background

{{< slide background-image="/img/boards.jpg" >}}
{{< slide background-color="#0000FF" >}}
{{< slide class="my-style" >}}

Custom CSS Example

Let’s make headers navy colored.

Create assets/css/reveal_custom.css with:

.reveal section h1,
.reveal section h2,
.reveal section h3 {
  color: navy;
}

Questions?

Ask

Documentation

Academic: the website builder for Hugo

Wed, 20 Apr 2016 00:00:00 +0000

Create a free website with Academic using Markdown, Jupyter, or RStudio. Choose a beautiful color theme and build anything with the Page Builder - over 40 widgets, themes, and language packs included!

Check out the latest demo of what you’ll get in less than 10 minutes, or view the showcase of personal, project, and business sites.

👉 Get Started
📚 View the documentation
💬 Ask a question on the forum
👥 Chat with the community
🐦 Twitter: @source_themes @GeorgeCushen #MadeWithAcademic
💡 Request a feature or report a bug
⬆️ Updating? View the Update Guide and Release Notes
❤️ Support development of Academic:
- ☕️ Donate a coffee
- 💵 Become a backer on Patreon
- 🖼️ Decorate your laptop or journal with an Academic sticker
- 👕 Wear the T-shirt
- 👩‍💻 Contribute

Academic is mobile first with a responsive design to ensure that your site looks stunning on every device.

Key features:

Page builder - Create anything with widgets and elements
Edit any type of content - Blog posts, publications, talks, slides, projects, and more!
Create content in Markdown, Jupyter, or RStudio
Plugin System - Fully customizable color and font themes
Display Code and Math - Code highlighting and LaTeX math supported
Integrations - Google Analytics, Disqus commenting, Maps, Contact Forms, and more!
Beautiful Site - Simple and refreshing one page design
Industry-Leading SEO - Help get your website found on search engines and social media
Media Galleries - Display your images and videos with captions in a customizable gallery
Mobile Friendly - Look amazing on every screen with a mobile friendly version of your site
Multi-language - 15+ language packs including English, 中文, and Português
Multi-user - Each author gets their own profile page
Privacy Pack - Assists with GDPR
Stand Out - Bring your site to life with animation, parallax backgrounds, and scroll effects
One-Click Deployment - No servers. No databases. Only files.

Themes

Academic comes with automatic day (light) and night (dark) mode built-in. Alternatively, visitors can choose their preferred mode - click the sun/moon icon in the top right of the Demo to see it in action! Day/night mode can also be disabled by the site admin in params.toml.

Choose a stunning theme and font for your site. Themes are fully customizable.

Ecosystem

Academic Admin: An admin tool to import publications from BibTeX or import assets for an offline site
Academic Scripts: Scripts to help migrate content to new versions of Academic

Install

You can choose from one of the following four methods to install:

Then personalize and deploy your new site.

Updating

View the Update Guide.

Feel free to star the project on Github to help keep track of updates.

License

Released under the MIT license.

An Option Valuation Framework Based on Arithmetic Brownian Motion Justification and Implementation Issues

Tue, 01 Sep 2015 00:00:00 +0000

Hello R Markdown

Thu, 23 Jul 2015 21:13:14 -0500

R Markdown

This is an R Markdown document. Markdown is a simple formatting syntax for authoring HTML, PDF, and MS Word documents. For more details on using R Markdown see http://rmarkdown.rstudio.com.

You can embed an R code chunk like this:

summary(cars)
##      speed           dist       
##  Min.   : 4.0   Min.   :  2.00  
##  1st Qu.:12.0   1st Qu.: 26.00  
##  Median :15.0   Median : 36.00  
##  Mean   :15.4   Mean   : 42.98  
##  3rd Qu.:19.0   3rd Qu.: 56.00  
##  Max.   :25.0   Max.   :120.00
fit <- lm(dist ~ speed, data = cars)
fit
## 
## Call:
## lm(formula = dist ~ speed, data = cars)
## 
## Coefficients:
## (Intercept)        speed  
##     -17.579        3.932

Including Plots

You can also embed plots. See Figure 1 for example:

par(mar = c(0, 1, 0, 1))
pie(
  c(280, 60, 20),
  c('Sky', 'Sunny side of pyramid', 'Shady side of pyramid'),
  col = c('#0292D8', '#F7EA39', '#C4B632'),
  init.angle = -50, border = NA
)

Figure 1: A fancy pie chart.

Example Talk

Tue, 01 Jun 2010 13:00:00 +0000

Click on the Slides button above to view the built-in slides feature.

Slides can be added in a few ways:

Create slides using Academic’s Slides feature and link using slides parameter in the front matter of the talk file
Upload an existing slide deck to static/ and link using url_slides parameter in the front matter of the talk file
Embed your slides (e.g. Google Slides) or presentation video on this page using shortcodes.

Further talk details can easily be added to this page using Markdown and $\rm \LaTeX$ math code.

BRIQ Newsletter

Example Page 1

Tip 1

Tip 2

Example Page 2

Tip 3

Tip 4

BRIQ Volume 25.4 (December 31, 2025)

BRIQ Volume 25.3 (September 30, 2025)

BRIQ Supplement Materials

Prior BRIQ Newsletters

White Papers

Technical Details

Building Quantitative Finance Applications with R

Glossary

Foundations of the Pricing of Financial Derivatives Theory and Analysis

Introduction to Derivatives and Risk Management

Building Financial Risk Management Applications with C++

Samuelson Hypothesis, Arbitrage Activity, and Futures Term Premiums

Foundations of Pricing Financial Derivatives

Writing technical content in Academic

Examples

Code

Math

Diagrams

Todo lists

Tables

Asides

Icons

Did you find this page helpful? Consider sharing it 🙌

Display Jupyter Notebooks with Academic

Install Python and JupyterLab

Create or upload a Jupyter notebook

Edit your post metadata

Convert notebook to Markdown

Example

Slides

Create slides in Markdown with Academic

Features

Controls

Code Highlighting

Math

Fragments

Speaker Notes

Themes

Custom Slide

Custom CSS Example

Questions?

Academic: the website builder for Hugo

Themes

Ecosystem

Install

Updating

License

An Option Valuation Framework Based on Arithmetic Brownian Motion Justification and Implementation Issues

Hello R Markdown

R Markdown

Including Plots

Example Talk