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2,308 karma · joined August 6, 2014
This naiveté is undermined by the fact that the fundraisers themselves had very serious discussions about what to do if the women he insisted accompany him anywhere were being trafficked and wanted a way out. They knew exactly who this guy was, the story makes it perfectly clear.
> "....and the more money flows to their bottom lines."
The reason is because their profits come as a percentage of what is paid, through the enforced Medical Loss Ratio[1]. There is a clear way to increase profits...
[1]: https://www.healthcare.gov/glossary/medical-loss-ratio-mlr/
There is a long history of non-US banks which have operations in the US getting fined by US regulatory agencies because they violate US law somewhere else in the world with regard to money laundering / sanctions etc. The reach of US prosecutory power with respect to financial institutions is vast.
Wish I had come to campus early today to feel that one.
Front-running is very common in bond trading.
I fail to see the parallel with Rajaratnam, since Rajaratnam was accused and convicted of insider trading on the basis of leaking from corporate insider executives(!) That's precisely the distinction that is being drawn in the comments here, between theft of insider information and the acquisition of difficult-to-intuit public information.
To answer your question, these parts:
> But technology is increasingly blurring the boundaries between public and private information, creating data opportunities that are legal, but are expensive and often require special expertise to access. “Technology was supposed to level the playing field, but what I see is the fence separating sophisticated and unsophisticated investors growing higher,” says Patatoukas, who is passionate about teaching his students to analyze public sources of financial information and finds the trend troubling. “That’s the dark side of big data. Our evidence suggests that unequal access to alternative data leaves individual investors outside the information loop.”
> In the aftermath of the financial crisis, there has been increased regulatory interest in the role of informed trading and disclosure requirements to protect the fairness and integrity of capital markets. With this in mind, Patatoukas hopes that the paper will get the attention of the regulators. “In a market setting where the line separating public from material non-public information is getting blurrier, the question that regulators need to answer is: What is their role in terms of leveling the playing field for individual investors?”
TLDR: using optics for sorting
>Moving into the future, it’s hard to say how much more modern the power grid can get since the underlying principles are so simple: three phases per circuit and structures large enough to keep them from sagging into something that could cause a fault. There is a lot of talk of the smart grid, but the solution to most of the issues with the power system is often simply to build more circuits as the demand for electricity rises. It’s a difficult problem to engineer ourselves out of, especially with the increasing age of the power grid itself, and at some point is simply becomes a numbers game of how many watts can be moved from place to place.
Technological progress could change the landscape quite a bit: https://en.wikipedia.org/wiki/Space-based_solar_power
Speaking truth to power doesn’t always mean speaking truth to people with elected power.
(of course, for those following along, this very interesting point is unrelated to the college admissions scandal)
See: https://www.chronicle.com/article/We-Asked-20-Elite-College/...
> Q. Will your university exert more oversight over how students are designated as athletic recruits in the admissions process? If so, how?
> A. Caltech does not reserve admission spots for our athletic department nor do we take into account legacy status or family wealth. The main criteria in our evaluation process focuses on academic and personal performance/potential as well as demonstrated STEM passion and achievement.
> Q. Does "Operation Varsity Blues" show a broader need for reform in selective admissions?
> A. This case is an important reminder how hypervigilant selective admission offices need to be in evaluating candidates and their credentials.
The fund went up not down. That aside, I believe the point is that if a bot goes and does that, it is simply doing what a human told it to do; bots reflect the commands of their human masters in an environment (financial markets) created by and for human endeavors. Hiding behind "bots" is not a way to get insight into mechanics of how markets (mal)function, IMO.
tl;dr price for the "CUBA fund" spikes following Obama announcement of normalizing relations, despite the CUBA fund having nothing at all to do with CUBA.
> ERWIN:Could you perhaps tell about bringing back A Broader View with its sequel, the new sequel? Because I think that’s very interesting. CLARK:Well, that was fun to do. The play readers group in 1987 decided to renew the play-reading party, which was one of the great traditions of the fifties and early sixties. And Bob Oliver asked me if I’d dust of f A Broader View. Well, I looked at it and I thought of updating it. But the shift in the twenty years had been so much that updating was impossible; it’s just a period piece or nothing. So we had to do it unchanged. And then I felt honor bound to write a sequel to it, which is called Troll’s Progress. The theme of it is that the essential Caltech never changes. It’s firmly founded on terror. [Laughter] And no froufrou can disguise that fact. And people who play together pray together, twitch together, stay together. Anyway, that theme allowed for a number of wisecracks, and I like to think the dialogue is rather funny. The kids who did it were tremendous. The undergraduates, of course, we know are stars.
> ERWIN:What was the origin of the troll?
> CLARK:Well, that goes back into Caltech history. And it’s probably Caltech’s only contribution to American culture. [Laughter] If you have to ask the meaning of the word, you’ll never understand what it means. But to put you sort of in the framework—that’s discussed, incidentally, in the dialogue of Beautiful Beckman there’s a segment on that. But a troll is a very high-voltage nerd. It used to be he lived “under DuBridge.” The kid that never sees the light of day, really, he’s so busy with his books. There are apprentice trolls at other schools, but ours are an order of magnitude more trollish. People who are compulsive and pathological students are much more so here. > ERWIN:Somewhere you referred to this as a “random troll.”
> CLARK:Oh, that’s the worst thing you can be called. You see, it means you’re just like a number; you have no personality. You might as well be a computer—nothing to distinguish. Oh, man, when you’re a random troll, you’re beyond the pale. [Laughter]
> ERWIN:In A Broader View, you called the Caltech undergrad “intellectually brilliant, emotionally immature, culturally deprived, and socially gauche.” And then, immediately afterward, I believe you gave the Caltech professor the identical description. That brings us to the point of what the shows were for underneath it all.
Source: http://oralhistories.library.caltech.edu/95/1/OH_Clark_K.pdf