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jaiman


Total Posts: 251
Joined: Oct 2004
 
Posted: 2009-09-21 16:19

Has anyone heard anything about this book? It's supposed to be released in January. I'm curious if anyone has heard of the author or the firm she works for?

http://www.amazon.com/exec/obidos/ASIN/0470563761/ref=nosim/gubooks-20 


athletico


Total Posts: 962
Joined: Jun 2004
 
Posted: 2009-09-21 16:48

first I heard of her was this noise on CNBC:

http://www.youtube.com/watch?v=_A28Zy9vR_A

(I think someone else also posted this vid in one of the NP threads on HFT)


FDAXHunter
Founding Member

Total Posts: 8372
Joined: Mar 2004
 
Posted: 2009-09-21 18:00
Never heard of either her or her consulting firm.

The Figs Protocol.

Ice Viking


Total Posts: 239
Joined: Aug 2007
 
Posted: 2009-09-21 18:21
keepin it real on Fox
http://www.youtube.com/watch?v=ruijWovs4Es


mba insead, msc financial engineering at columbia, likes long walks on the beach

"i am a shark, the ground is my ocean and most people can't even swim"

jslade


Total Posts: 1244
Joined: Feb 2007
 
Posted: 2009-09-21 20:51
Whatever her qualifications for writing a book (she has none as far as I can tell), she says smart stuff on the TV. I can't think of anyone else they put on the television machine who is out there actively not being retarded and putting across a positive image. I'd pay cash money to watch her take the piss out of Taleb.

"Learning, n. The kind of ignorance distinguishing the studious."

LongTheta
The Snowman

Total Posts: 3155
Joined: Mar 2004
 
Posted: 2009-09-21 21:27

She can surely talk Big Smile 


Time is on my side.

Graeme


Total Posts: 1629
Joined: Jun 2004
 
Posted: 2009-09-21 22:11

Is this for real? These interviewers cannot lack profundity to such an extent - they're taking the piss, right? (I could NOT watch it to the end, it was just too ..... banal.)

Anyway, to echo Longtheta: at least if the finance career track doesn't work out, she could go and be a commentator at the track.


Graeme West

FDAXHunter
Founding Member

Total Posts: 8372
Joined: Mar 2004
 
Posted: 2009-09-22 09:43
jslade: she says smart stuff on the TV

Huh? Are we talking about the same one? The blonde lady?

The Figs Protocol.

ClopeMan


Total Posts: 328
Joined: Jan 2007
 
Posted: 2009-09-22 16:17
Phunny, i actually know her "relatively well" for having smoked cigarettes and talkin' shit with her for a while in grad school (where living in same building...). She already had the idea of writing a book back then, say 2005 ish. She's relatively smart and she certainly has king kong size balls (she's an agressive professional women; if you go against her on anything, make sure you can stand shit, cuz there will be loads) but i must say i did not see her as a specialized hf dudess at all. Niet. Maybe things have changed significantly since then hehe. A friend mentioned her book to me last week over a drink; we both thought she's the living proof that guts counts at least as much as anything else in this world.

twisted objective mind

HankScorpio


Total Posts: 481
Joined: Mar 2007
 
Posted: 2009-09-22 19:50
Re: ClopeMan's point about "guts counting"...

Peter Aldhous - New Scientist - June 6th 2009:
The research, by Don Moore of Carnegie Mellon University in Pittsburgh, Pennsylvania, shows that we prefer advice from a confident source, even to the point that we are willing to forgive a poor track record. Moore argues that in competitive situations, this can drive those offering advice to increasingly exaggerate how sure they are. And it spells bad news for scientists who try to be honest about gaps in their knowledge.

jslade


Total Posts: 1244
Joined: Feb 2007
 
Posted: 2009-09-23 19:03
FDAX: "Huh? Are we talking about the same one? The blonde lady? "

Well, she's no Cicero, but considering her competition is Wankmott, "oh noes, the HFTs are going to end civilization (erm, I mean, my recruiting and educational business)," and Taleb "oh noes, the sky is falling: look at how smart I am, oooo shiny thing" -she looks like a super genius in comparison. Also, she took the piss out of Joe Saluzzi reasonably well, in what was pretty much an impossible situation.

I don't think she knows anything. In fact, even though I'm borderline trading retarded, I am certain I could write a better book on HFT than she can, but I appreciate her channeling her vanity on television a lot more than I do those other douchebags. The thing is, even though I'd write a significantly less retarded book than hers is gonna be, I would never, ever want to be on television with those simpering dimwits. So, like, I appreciate her efforts in the same spirit I appreciate cops who roust bums.

"Learning, n. The kind of ignorance distinguishing the studious."

tristanreid


Total Posts: 1677
Joined: Aug 2005
 
Posted: 2009-09-23 19:48
I actually did watch to the end (ok, while waiting for another call to get interesting, but still)

She never established why co-location is fundamentally different from front-running, she just said front-running is illegal so it shouldn't be happening, and co-location is a great thing for firms that have the skill-set to do it. Saluzzi never established why co-location is ethically wrong, he just stated that it was unfair to retail investors.

Given that better research can also be had for a fee, and that accounting and other operational costs have efficiencies of scale, what makes co-location ethically different? Or conversely, why is it different than front-running? And if it's not different, why is it any worse than the day that a guy overheard another guy in the pit and goes running out shouting louder?

I honestly am not informed enough to have much of an opinion, it just seems to me that this problem was invented, things weren't more fair before computers were involved, we just have higher standards now.

-t.

the only reason it would be easier to program in C is that you can't easily express complex problems in C, so you don't. -comp.lang.lisp

filthy


Total Posts: 1265
Joined: Jun 2004
 
Posted: 2009-09-23 21:27

"Or conversely, why is it different than front-running?"

as a wise member pointed out to me over tequilla, front running is wrong because it violates the responsibility of a broker to get his client the best price. front running someone else is different. i think that doing that is just good trading. you decide how much the opportunity is worth to you, then you pay the fees and fill out the forms and do it. just like in the old days you became an exchange member and then kept your eye on the goldman booth to see when they sent in a big order.

people seem to have a problem with certain market participants having an institutionalized edge. i don't, as long as access to that edge is open. ie you too can become a market maker or get a co-located server. if it is down to who your dad was then i do have a problem.


"Game's the same, just got more fierce"

jslade


Total Posts: 1244
Joined: Feb 2007
 
Posted: 2009-09-23 22:27
TR: like Filthy said, front running is when your broker does it to you. It's unethical for the same reason insider trading is unethical. What Joe Saluzzi calls "front running" is also called, "providing liquidity." The irony of this is Joe does the exact same thing; he just does it badly, using technical analysis and gut instinct; therefore, the smarter HFT dudes are taking his lunch money. Miz Aldritch deftly pointed this out. It's unfortunate she wasn't able to convey why providing liquidity is a service which people pay money for, but like I said, the bar for "helpful" verus "barking asshole who is telling lies" is pretty low. Joe Saluzzi's argument seems to be, "I am a lazy shit who thinks he's entitled to make a living with stone knives and bearskins."

Pricing ahead of the market is just charging money for liquidity. I don't know why people have a problem with it. There was no organized agitation against the old market makers who got to charge $1/8 or more per share, and those guys were charging a lot more for liquidity than the sinister high frequency conspiracy. They were able to do that because they went to Andover or whatever. At least the HFT dudes earn their money. The fact that there are a half dozen HFTs all fighting over a tiny spread keeps liquidity cheaper than in the bad old days of 1/8th spreads.

What, you want your liquidity for free? Are you some kind of communist? Piss

Anyhow, that's how I see it. Just don't ask me to go on TeeVee to explain this to maroons.

"Learning, n. The kind of ignorance distinguishing the studious."

tristanreid


Total Posts: 1677
Joined: Aug 2005
 
Posted: 2009-09-23 23:30
Thanks guys, that makes perfect sense to me, which means you could probably explain it on TV, at least if you were allowed to tase your fellow panelists.

Filthy, tequila-powered financial ethics sounds awesome. I think I get more out of learning financial ethics than other fields of inquiry, it makes the pieces fit together.

Thanks again,

-t.

the only reason it would be easier to program in C is that you can't easily express complex problems in C, so you don't. -comp.lang.lisp

jslade


Total Posts: 1244
Joined: Feb 2007
 
Posted: 2009-10-01 21:05
OK, maybe going on the Daily Show indicates she loves being on the TV a little too much.

http://www.thedailyshow.com/watch/wed-september-30-2009/cash-cow---high-frequency-trading

"Learning, n. The kind of ignorance distinguishing the studious."

mht


Total Posts: 26
Joined: May 2005
 
Posted: 2009-10-02 19:32
This title has not yet been released.
You may pre-order it now and we will deliver it to you when it arrives.
Ships from and sold by Amazon.com. Gift-wrap available.

the thread looks like pre marketing?????????


;-)

MHT

jaiman


Total Posts: 251
Joined: Oct 2004
 
Posted: 2009-10-05 16:26
Premarketing?? Go ph*ck yourself.

mht


Total Posts: 26
Joined: May 2005
 
Posted: 2009-10-05 20:05
hello jaiman,

I appreciate your eloquent reply. I can t find a table of contents at all, may be you'll be able to provide this?

Kind regards

MHT

Graeme


Total Posts: 1629
Joined: Jun 2004
 
Posted: 2009-10-05 21:19
Dewd..... he made it pretty clear he isn't involved in the marketing of this book, so probably doesn't have all that wonderful spam available. Your request is even more bizarre than your first comment.

Graeme West

mht


Total Posts: 26
Joined: May 2005
 
Posted: 2009-10-05 21:40
No offence!


MHT

ATX Trader


Total Posts: 10
Joined: May 2008
 
Posted: 2009-12-05 00:01
Anyone read this yet? There are only two reviews on Amazon so far. One is negative and the other is obviously a shill (the same exact review is at BN.com).

chiral3
Founding Member

Total Posts: 5221
Joined: Mar 2004
 
Posted: 2009-12-05 01:40
I made it to the end only b/c the clock said 00:45 when I decided I'd had enough, but figured I'd made it this far... Agree completely with Graeme and FDAX. Banal. I don't watch financial news (at least not with the sound on), but the overly emotional, effeminate, wildly gesticulating retard in the middle did a nice job making the woman seem less banal. Based on her linkedin, I divine the following: parents have money, grew up privileged (CU for EE?? Couldn't leave Manhattan, friends still finishing last year at Dalton). MFE jobless. INSEAD MBA, again without job in past 4 year of graduate education. Vague job at large cie (that's Quebec Phrench, not Phrench Phranch) for less than two years (months omitted, surefire tactic to make 1 year look like two). Stat arb trader (kinda like how Chelsea is at Avenue b/c of the substantial p/l she ran for years, not because of who daddy is). That's my theory. I could be very wrong, or just mean.

Nonius is Satoshi Nakamoto. 物の哀れ

FDAXHunter
Founding Member

Total Posts: 8372
Joined: Mar 2004
 
Posted: 2009-12-07 11:06
Those who can't trade.... teach. (And those who can't teach... regulate).

The Figs Protocol.

ClopeMan


Total Posts: 328
Joined: Jan 2007
 
Posted: 2009-12-09 04:18

@chiral: she's been a phd candidate for a while (probably where the months/years got rounded...)


twisted objective mind
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