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It is said, perhaps apocryphally, that the head of the trading desk at Mizuho, when asked whether he fired the woman who physically keyed in an order for 600k s
by patio11 12y ago
It is said, perhaps apocryphally, that the head of the trading desk at Mizuho, when asked whether he fired the woman who physically keyed in an order for 600k shares at 1 yen rather than an order for 1 share at 600k yen ($300 million or so in losses), said "Why would I do that, after spending $300 million to make her the least likely person in Japan to typo trade instructions."
- bagels 12y agoThat quote is interesting because because the conclusion doesn't follow. It's basically the Monte Carlo fallacy. She's probably less likely than before due to fear or guilt, but I don't know that this makes her less error prone than every other person in the country, including those that double check every time, for instance.