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Thanks for tracking that down. One interesting passage "...the strategy, which claims to use OTC options almost entirely...". Which means that the audit matching trades to exchange trades cited by @JSOP wouldn't have been viable. It is interesting to read a 2001 article like that knowing the...

Maybe just different types of entities? You're not going to get that kind of position as a new MBA grad at the associate level at, say GS or on the buy side unless you're returning to the fund where you worked prior to the MBA maybe? I guess maybe at a family office, although again probably only...

What specific job title are you talking about here? A risk management position? That's generally considered middle office at best (at bulge bracket banks) and back office somewhere like Wells. Definitely a significant step below front office i-banking of buy-side jobs both in salary and...

Inherent in what your saying is the requirement for 100% audits of every financial advisor to the point of examining their stated investment strategy and tracking at least a significant number of their trades up to the point of matching them with actual trades on the exchange, ensuring that the...

Probably depends on what definition of trading you're using. If you're talking about the guys on trading desks, that's pretty far down the totem pole compared to the people putting together structured products for clients that they then send down to the trading desks to execute, for example. And...

Math or computer science if you want to work in the quant field, MBA or one of the various finance degrees if you want to do more general work. Since universities generally teach evidence based material on the science/engineering/business side of campus and focus on learning the theory behind...

Again it just doesn't work that way. You have to be sophisticated enough to figure out a scheme from a math point of view AND develop probable cause from that or else you need to audit every fund to the level that you examine their strategy and match trades to it. Neither of those is feasible...

So Venezuela's inflation level is well known and well documented. If you're really interested in the questions you ask, I highly recommend you subscribe to something like the WSJ, or Barron's if you only have time for once a week, and read them pretty religiously. At the same time, once you've...

Thanks for the book recommendation, I'll add it to my reading list. Sounds like the Markopolos data may have risen to the probable cause level. A claimed strategy not being capable of the size you're running or preternatural returns are most definitely not probable cause and I can't imagine...

Again though, if you're law enforcement you can't just go with "internal memos" (which you wouldn't have access to in any event) or articles in MAR-Hedge or Harry Markopolos complaining to the SEC. I someone complaining to the SEC was all it took then Interactive Brokers wouldn't be in business...

I'm not sure how any of those 3 letter agencies would have gone about figuring it out. I mean mechanically, what does that look like? They send an agent in to actually perform an audit? Of what, any firm that has positive returns for more than 5 years in a row? Can you imagine the cries of...

Thanks, that's interesting, the math does work out to that.

Actually a ZH article incorrectly conflated the percent of their revenue that comes from order flow with the absolute amount they collect from order flow to arrive at that erroneous conclusion. Not uncommon given the (lack of) rigor in most things "published" there. If you have something else...

Let's summarize what's going on here. Poster 1 throws out a completely unsupported assertion based on the same kind of "common sense" that would also say the earth is flat because we don't roll off it and the sun orbits the earth because....clearly, take a look! Poster 2 Provides a detailed list...

So I'm 45, just so you can't stereotype me as a millennial, and an entrepreneur who has done very well for myself. And I agree with @aquarian1 completely on this, that was exactly my first thought when I read this, cry me a river. I don't know that he was paid too much, but I certainly wouldn't...

A bit of a chicken and egg issue with attributing cause and effect here isn't it, not to mention just flat out unsupported in the assertion that a inversion of the yield curve is indicative of investors shunning Treasuries let alone specifically foreign investors shunning Treasuries? Treasury...

Yeah, from reading the article is sounds like this is the classic case where you either "save" $1.5B and recover only a couple $B by hiring a guy who does a standard job or you "waste" $1.5B to hire a guy who pushes past existing case law to claw back unearned ponzi profits in a way never before...

Hadn't heard if this angle yet, what's the name of the specific program (or other useful Google keyword)?

In other words, statistically far more likely to be successful for the majority of companies over the long term than the alternatives?

We used to call that person a manager/supervisor/leader? Seriously, if a company makes a business decision to use a particular software development style then it becomes an inherent part of the company's management, not some outside "coach". It's only when you elevate it to cult status that you...