$$$ Heidi Moore wants every to shut up about Goldman Sachs already. [The Big Money]
$$$ Brazilian Soccer Star Romario Proves that Hating Taxes is a World-Wide Institution [Going Concern]
$$$ Janet Tavakoli has bones to pick with Meredith Whitney, Nassim Taleb and Charlie Gasparino. [PDF]
$$$ AIG Not the Resume-Killer You Expected It to Be [Cityfile]
$$$ As to the eternal question of whether it’s faster to take Third Avenue or Park Avenue uptown, the former having staggered lights, the latter not, the former RenTec employee equivocated: “It depends on your nature. If you want speed right now, you take Park. If you like to understand a system and maximize it, you take Third. I’m a system guy.” [New Yorker]
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
depending on the time of day, third ave is faster. park ave is only faster during peak traffic hours due to the cheap b&t d-bags blocking the lanes at the 59th street bridge entrance…if you play your cards right, you can go from 23rd to 96th without stopping…
and 1st b1tches!
The article inadvertantly explains why arrogant mathtards lose billions of dollars in the trading game. They don’t understand risk and reverse-risk. Take this idiotic quote for example:
” Mathematical ignorance is insidious, and it manifests itself in many ways. “The purest example is the lottery,” he said. “The lottery is a tax on the mathematically illiterate.”
But, then, something like this happens quite frequently:
http://www.newsday.com/uncle-sam-s-bff-ny-winner-gets-54m-after-taxes-1.1334981
@2 ftw over and over again
Uptown via Mad Ave only.
I get uptown via Mad Ave on my Rascal that I stole from Greg’s Grandmother.
Tavakoli is like every other independent structured finance jagoff…right about everything, and completely devoid of usefulness to anyone willing to write a check.
I don’t know who’s schlong Heidi is sucking, but get real. GS is like every other I bank in many, many ways. She praises the “voice mail” culture, where suck-ups program their phones to leave voice mails for others at 3am to make it seem like they’re working? She thinks deal credit isn’t fought over and is shared equally?
Uh-huh. Pull the other one.
- Been there, done that.
@2: What’s reverse-risk?
@8…..@2 here. Reverse risk is a common term among culture carriers and, as you know, has not made it into the general lexicon of risk management. Reverse risk is basically losing a chance at “large” money despite all the best education, training and experience one might possess. Reverse risk is the “lepto kurtosis” of a lepto kurtosis itself. It is a fat tail of a prominent fat tail in statistical speak. Reverse risk is the most embarrassing risk there is if one isn’t hedged for it. A perfect example of reverse risk is not betting on the number that has come up 5 times in a row on a roulette wheel. (With apologies to the late Dr. Kelly in whose name the “criterion” is spoken in reverent terms.)
So ends the lesson.
I’m a 3rd Avenue gal, but for some reason every cab driver in the whole city seems to think Madison is the one and only way to get uptown on the East side. I lost count a few hundred times ago how many cab drivers have asked me “Why not Madison?” immediately after I’d directed them in no uncertain terms to take 3rd.
A handful have stubbornly ignored my plea and gone right ahead and taken Madison. They find out at the end of the ride that the answer to “Why not Madison?” is that taking Madison when the customer asked for 3rd results in zero tip.
Edit yourself, Bess. In the first headline, “Every” should be “Everyone” I think? Not Goldman material.
“Will Everyone Please Shut Up About Goldman Sachs?”
So does anyone in this industry ever grow up ? Always sound like a bunch of children going through puberty.