4 ms·

Related reading: today's Matt Levine piece on how hard it is to make money even with this info. https://www.bloomberg.com/opinion/articles/2019-01-16/even-cheat

Related reading: today's Matt Levine piece on how hard it is to make money even with this info. https://www.bloomberg.com/opinion/articles/2019-01-16/even-cheaters-don-t-always-win https://www.bloomberg.com/opinion/articles/2019-01-16/even-c...

AznHisoka 8y ago
They make successful trades 77% of the time they had insider information and 45% when they didnt. That clearly is an advantage. I would never expect a 90% success rate because of how random Wall Street is, but 77% over a period of time definitely is an advantage.
- cheeze 8y ago
  That's a huge advantage. Counting cards in blackjack gives a 50.5:49.5 edge (roughly, there are variables). 77% is absolutely crushing it.
- perl4ever 8y ago
  If I read it correctly, they were successful 77% of the time with inside info and 0% without, averaging 45%.
ChuckMcM 8y ago
I also like his take on the WeWork fiasco.
- zepearl 8y ago
  Is it a fiasco or is it just "shady business" but still successful? Really just asking because I never heard about that company but saw a few days ago a post about its split into different sectors all having their names starting with "We..." and did not dig further (and I did not find anything useful today using my keywords).
  - jessaustin 8y ago
    GP is correct, this column is entertaining and informative: https://www.bloomberg.com/opinion/articles/2019-01-16/wework-ceo-adam-neumann-is-also-a-landlord https://www.bloomberg.com/opinion/articles/2019-01-16/wework...
lloydde 8y ago
This situation brings to mind last year’s Verge article “HOW AN INTERNATIONAL HACKER NETWORK TURNED STOLEN PRESS RELEASES INTO $100 MILLION” https://www.theverge.com/2018/8/22/17716622/sec-business-wire-hack-stolen-press-release-fraud-ukraine https://www.theverge.com/2018/8/22/17716622/sec-business-wir... The article include a great line “The [Ukrainian] intelligence agents began running a parallel operation to the Moscovite middlemen, using Turchynov’s access and sourcing their own traders, according to Demedyuk.”
zepearl 8y ago
Thank you for the nice link - is this guy (Matt Levine) somehow generally "known" for some reason? I liked the articles but it's the first time I hear the name. Edit: thanks a lot for your hints/replies!
- OldManAndTheCpp 8y ago
  He is known for his articles about the financial industry, written with clarity and humor.
- hkmurakami 8y ago
  He is considered to be one of the most insightful (and humorous) finance writers today. He was formerly a Goldman Banker, and prior to this, a corporate lawyer at Wachtell, both firms having the reputation of residing at the summit of their industries. https://en.wikipedia.org/wiki/Wachtell,_Lipton,_Rosen_%26_Katz https://en.wikipedia.org/wiki/Wachtell,_Lipton,_Rosen_%26_Ka...
  - perl4ever 8y ago
    Also a Latin teacher.

AznHisoka 8y ago

They make successful trades 77% of the time they had insider information and 45% when they didnt. That clearly is an advantage. I would never expect a 90% success rate because of how random Wall Street is, but 77% over a period of time definitely is an advantage.

cheeze 8y ago
That's a huge advantage. Counting cards in blackjack gives a 50.5:49.5 edge (roughly, there are variables). 77% is absolutely crushing it.
perl4ever 8y ago
If I read it correctly, they were successful 77% of the time with inside info and 0% without, averaging 45%.

ChuckMcM 8y ago

I also like his take on the WeWork fiasco.

zepearl 8y ago
Is it a fiasco or is it just "shady business" but still successful? Really just asking because I never heard about that company but saw a few days ago a post about its split into different sectors all having their names starting with "We..." and did not dig further (and I did not find anything useful today using my keywords).
- jessaustin 8y ago
  GP is correct, this column is entertaining and informative: https://www.bloomberg.com/opinion/articles/2019-01-16/wework-ceo-adam-neumann-is-also-a-landlord https://www.bloomberg.com/opinion/articles/2019-01-16/wework...

lloydde 8y ago

This situation brings to mind last year’s Verge article “HOW AN INTERNATIONAL HACKER NETWORK TURNED STOLEN PRESS RELEASES INTO $100 MILLION” https://www.theverge.com/2018/8/22/17716622/sec-business-wire-hack-stolen-press-release-fraud-ukraine https://www.theverge.com/2018/8/22/17716622/sec-business-wir... The article include a great line “The [Ukrainian] intelligence agents began running a parallel operation to the Moscovite middlemen, using Turchynov’s access and sourcing their own traders, according to Demedyuk.”

zepearl 8y ago

Thank you for the nice link - is this guy (Matt Levine) somehow generally "known" for some reason? I liked the articles but it's the first time I hear the name. Edit: thanks a lot for your hints/replies!

OldManAndTheCpp 8y ago
He is known for his articles about the financial industry, written with clarity and humor.
hkmurakami 8y ago
He is considered to be one of the most insightful (and humorous) finance writers today. He was formerly a Goldman Banker, and prior to this, a corporate lawyer at Wachtell, both firms having the reputation of residing at the summit of their industries. https://en.wikipedia.org/wiki/Wachtell,_Lipton,_Rosen_%26_Katz https://en.wikipedia.org/wiki/Wachtell,_Lipton,_Rosen_%26_Ka...
- perl4ever 8y ago
  Also a Latin teacher.