Leopold Aschenbrenner’s AI-focused hedge fund nearly collapsed in July before striking a deal with Citadel

Prime minister opts not to rip up programme drawn up under Sir Keir Starmer that mostly relies on housing associations

Jeanie Buss is fighting with her siblings over whether to sell their shared stake in the Los Angeles Lakers. Axelle/Bauer-Griffin/FilmMagic via Getty ImagesThe Buss family’s 47-year ownership of the Los Angeles Lakers, 17-time NBA champions, could soon come to an end despite their patriarch’s clear wishes before he died.

Hyung Joo KimI propose a novel method to reliably estimate the conditional pricing kernel by incorporating conditioning variables. The VIX and the term spread are most informative variables for identifying state prices. The conditional kernel estimate exhibits significant time variation: the more favorable market expectations, the higher state prices in negative return states.