UK trader arrested for May 2010 U.S. Stock market flash crash

TraDaToR said:
Sarao behaved really stupidly when he was first confronted to regulators and his gains are certainly a bit "ill gotten", but it is still sad to see how the government can come and erase everything you have accomplished in your life. They will just take his money as if he had simply stole it to a grandmother whereas what he did was incredibly hard.
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Dude, this post is an Award winner in Stupidity. First, you acknowledge that his gains were ill gotten, then you are crying that the government took it away, specially because it was hard work to get it. So had it been easy, no problem?

Replace Sarao's name with Tony Soprano/any villain in your post and read it again, to see the incredible dumbness of it...
 
Pekelo said:
Dude, this post is an Award winner in Stupidity. First, you acknowledge that his gains were ill gotten, then you are crying that the government took it away, specially because it was hard work to get it. So had it been easy, no problem?

Replace Sarao's name with Tony Soprano/any villain in your post and read it again, to see the incredible dumbness of it...
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He played a game that screwed over HFT, hardly a crime of the century and ZERO chance this guy caused the flash crash, complete BS
 
algofy said:
He played a game that screwed over HFT, hardly a crime of the century and ZERO chance this guy caused the flash crash, complete BS
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Your post is beside the point and he didn't plead guilty for flash crash causing but spoofing. You know stealing my bicycle also not the crime of the century but I would beat you with a baseball bat for doing it. My understanding is that the flash crash didn't even come up at this hearing just the spoofing and wire fraud.

So was there another useless point you intended to make?
 
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Pekelo said:
You know stealing my bicycle also not the crime of the century but I would beat you with a baseball bat for doing it.
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Well, that's not the best way to illustrate your point, not so sure how it works in the US, but in Europe you would risk jail for that while Algofy would get a tap on the wrist from authorities

I'm shocked btw at UK's system, that they extradite one of their one citizens to a country where the sentences are much harsher, furthermore for a white collar issue
 
Pekelo said:
Your post is beside the point and he didn't plead guilty for flash crash causing but spoofing. You know stealing my bicycle also not the crime of the century but I would beat you with a baseball bat for doing it. My understanding is that the flash crash didn't even come up at this hearing just the spoofing and wire fraud.

So was there another useless point you intended to make?
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No other useless points to make.
 
Cdntrader said:
Well if he had any brains he will have other money stashed away I guess.
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This goes to prove that cash is king !
If he had buried a few million somewhere, he'd still be in good shape today.
This all comes down to decision theory...MiniMax, MaxiMin, Bayes, etc.
Nav should have gone into MaxiMin mode as soon as the CME was onto his techniques. Instead, Nav continued with a decision mode that would guarantee he would lose everything......and He did. Only in the very end did he change decision-thinking modes.....and he was thus able to avoid prison.
What's the moral here ?
Money and success can cloud good judgement and good decision-making.
 
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syswizard said:
This goes to prove that cash is king !
If he had buried a few million somewhere, he'd still be in good shape today.
This all comes down to decision theory...MiniMax, MaxiMin, Bayes, etc.
Nav should have gone into MaxiMin mode as soon as the CME was onto his techniques. Instead, Nav continued with a decision mode that would guarantee he would lose everything......and He did. Only in the very end did he change decision-thinking modes.....and he was thus able to avoid prison.
What's the moral here ?
Money and success can cloud good judgement and good decision-making.
More...

I doubt he is going to avoid prison.
 
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