Creator of New Science to Speak at Major World Congress
Research Triangle Park, NC—(November 1, 1998)— Dr. Valery A. Kholodnyi, the first scientist ever to successfully apply principles of modern physics and gauge symmetry to global financial markets, will give an invited presentation to a major World Congress on one of the frameworks used in his revolutionary P-28 technology. Dr. Kholodnyi is the Vice-President of Research and Development for the Institute for Financial Technology (IFT) in Research Triangle Park, North Carolina. He has accepted an invitation from the Third World Congress of Nonlinear Analysts to conduct a "minisymposium" on his area of expertise and its applications in global financial markets. In addition, Dr. Kholodnyi will give an invited 45-minute presentation on his work. His presentation will be one of the main talks at the Congress, which features presentations by Nobel laureates and other top scientists from around the world. Dr. Kholodnyi's latest book, which describes the P-28 technology, is titled Beliefs-Preferences Gauge Symmetry Group and Replication of Contingent Claims in a General Market Environment. "Dr. Kholodnyi's book was released recently and the response has been absolutely overwhelming," says Steven M. Rideout, Managing Director of the IFT. "Both Wall Street and the scientific community want to move ahead immediately with the R&D project that will develop the engines needed to apply this technology in all markets worldwide. Dr. Kholodnyi's P-28 technology is the preventive medicine that will stop a repeat of the recent collapses in hedge funds and the resulting chaos in global financial markets. It comes as no surprise that a world body of this stature would invite Dr. Kholodnyi to conduct a minisymposium and make an invited presentation on his work." A World Congress of Nonlinear Analysts is the most prestigious gathering of scientists working in the field of nonlinear analysis. These scientists study issues of worldwide consequence and how nonlinear analysis can be used to understand and resolve such issues effectively. Topics addressed at the Third World Congress will include complex environmental problems, ecological and health strategies, global warming, next-generation computers and their roles, and international economic models. Held once every four years, a Congress of Nonlinear Analysts is considered one of the leading forums for announcements of groundbreaking new discoveries and solutions. The Third World Congress of Nonlinear Analysts will be held at Catania, Italy in July 2000. Dr. Kholodnyi was also one of the main invited speakers at the Second World Congress of Nonlinear Analysts in 1996. Dr. Kholodnyi received his Ph.D. in Applied Mathematics from the Moscow Institute of Electronics and Mathematics in 1990. He has co-authored two other landmark books in the field of finance, Foundations of Foreign Exchange Option Symmetry (IES Press) and Foreign Exchange Option Symmetry (World Scientific Publishing Co.). Both of these books are conceptually based on Beliefs-Preferences Gauge Symmetry Group and Replication of Contingent Claims in a General Market Environment. Dr. Kholodnyi has also authored or co-authored over 60 research papers in finance, mathematics, theoretical physics and engineering. He has been an invited speaker at many other international and national conferences, as well as at research seminars in university departments and industry. Gauge symmetries have been responsible for such major revolutions in physics as Maxwell's theory of a classical electromagnetic field, Einstein's general theory of relativity, and the successful unified quantum field theories which unify all known interactions in nature. P-28 applies gauge symmetry to financial markets for the first time. "We believe that the technology described in Dr. Kholodnyi's book clearly demonstrates that P-28 is one of the most important developments in the history of finance," says Mr. Rideout. "Anyone who uses these new technologies will avoid the pitfalls that recently engulfed the hedge funds, and will gain a substantial competitive advantage in global financial markets as well." According to Mr. Rideout, P-28 completely dispenses with probability models, probability distributions, volatility measurements and conventional financial derivative pricing. P-28 uses gauge symmetry and real-time market data to accurately price options and other financial vehicles. "This is not just a new advancement on current technology," Mr. Rideout says. "P-28 is a revolutionary new technology unlike any other in the history of finance, and it will change portfolio management forever." Mr. Rideout says that the P-28 financial technology has far-reaching practical applications that include substantial reduction of risk, increased earnings, increased economic and market stability, new, true "no-risk" arbitrage, far more accurate Value-at-Risk reporting, more prudent portfolio structure, and accurate pricing of options and other financial derivative vehicles 100% of the time. "It is expected that this new, physics-based P-28 technology will soon be used by all traders, quantitative analysts, economists, asset managers and fund managers to make risk reporting, option pricing and portfolio management far more accurate and more efficient than ever before," says Mr. Rideout.
For interviews with Steven Rideout about the P-28 technology or the book, contact Celia Rocks at 828-322-3111 or CeliaRocks@aol.com. To order the book, call 1-888-437-4979. Web site www.ieslc.com offers more information on the IFT and its parent company, IES LC.
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