Add training workflow, datasets, and runbook

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+himself, what does 1.25% per year really matter? However, you can see that it 
+matter. In fact, our above examples did not even factor in the other cost that any 
+htvt?stor has when his money is at risk - the cost of carry, or what he could have made 
+he just put the money in the bank. 
+MIASURING THE COST OF THE ADJUSTMENT FACTOR 
+The magnitude of the adjustment increases as the price of the underlying increases. 
+It is an unusual concept. We know that the structured product initially had an 
+hnbedded call option. Earlier in this chapter, we endeavored to price that option. 
+However, with the introduction of the concept of an adjustment factor, it turns out 
+that the call option's cost is not a fixed amount. It varies, depending on the final value 
+of the underlying index. In fact, the cost of the option is a percentage of the final 
+value of the index. Thus, we can't really price it at the beginning, because we don't 
+know what the final value of the index will be. In fact, we have to cease thinking of 
+this option's cost as a fixed number. Rather, it is a geometric cost, if you will, for it 
+increases as the underlying does. 
+Perhaps another way to think of this is t.o visualize what the cost will be in per­
+centage terms. Figure 32-2 compares how much of the percent increase in the index 
+is captured by the structured product in the preceding example. The x-axis on the 
+graph is the percent increase by the index. The y-axis is the percent realized by the 
+structured product. The terms are the same as used in the previous examples: The 
+strike price is 1,100, the total adjustment factor is 8.75%, and the guarantee price of 
+the structured product is 10. 
+The dashed line illustrates the first example that was shown, when a doubling 
+of the index value (an increase of 100%) to 2,200 resulted in a gain of 83.5% in the 
+price of the structured. Thus, the point (100%, 83.5%) is on the line on the chart 
+where the dashed lines meet. 
+Figure 32-2 points out just how little of the percent increase one captures if the 
+underlying index increases only modestly during the life of the structured product. 
+We already know that the index has to increase by 9.59% just to get to the break-even 
+final price. That point is where the curved line meets the x-axis in Figure 32-2. 
+The curved line in Figure 32-2 increases rapidly above the break-even price, 
+and then begins to flatten out as the index appreciation reaches 100% or so. This 
+depicts the fact that, for small percentage increases in the index, the 8.75% adjust­
+ment factor -which is a flat-out downward adjustment in the index price - robs one 
+of most of the percentage gain. It is only when the index has doubled in price or so 
+that the curve stops rising so quickly. In other words, the index has increased enough 
+in value that the structured product, while not capturing all of the percentage gain 
+by any means, is now capturing a great deal of it.