Mar

13

 One was reading today again, Frederick Forsyth's The Day of the Jackal, and as you recall, the search of the French and the English to find the potential assassin from the Dominican Republic which involved such things as examining all passports issued in a 1 year period, all stolen passports, all hotel reservations, all dead letter passports issued, all gun makers, all disguise artists, surveillance on the Italian consulate, torture by electric shock, use of escorts and truth serum to unravel the extent of the plot and many more things that I am too unfamiliar with intelligence to understand,—-okay, the type of effort that was mustered here is far beyond what we undertake to find the regularities in the markets and the profits thereof. The same would go for the efforts to test and hold constant the various hypotheses in scorecasting. We should be very humble in connection with our limited efforts in our fields compared to others, and redouble our efforts to get on some kind of level playing field. Recall that the favored bailed out institutions are hiring space and manning their redoubts with the best and brightest they can find, who one competes against. Perhaps they do not work the long hours of those in The Day of the Jackal or examine millions of pitches like the scorecasters, but they have the advantage of unlimited capital to back their positions, the abstinence from fear of margin calls, apparently the ability to hide their losses in many cases from their superiors, and asymmetric bonuses if they make compared to the very mild raised eyebrow if they don't feather the nest. 


Comments

Name

Email

Website

Speak your mind

Archives

Resources & Links

Search