E and ES and Q
My FM320 student and summer intern Yiying Zhong spotted a typo in Chapter 4 page 86. The ES equation at the bottom of the page says $$ ES = - [Q|Q \le -VaR(p)]$$ but is missing the expectation $$ ES = - E[Q|Q \le -VaR(p)]$$
Found something?
Corrections and comments are very much appreciated. Please get in touch.