It Is Far Better To Keep The

The Inability To Envision A Certain Kind Of Person Doing A Certain Kind Of Thing Because You've Never Seen Someone Who Looks Like Him Do It Before Is Not Just A Vice. It's A Luxury. What Begins As A Failure Of The Imagination Ends As A Market Inefficiency: When You Rule Out An Entire Class Of People From Doing A Job Simply By Their Appearance, You Are Less Likely To Find The Best Person For The Job.

When The Last History Of High-frequency Trading Is Written, Hunsader, Like Joe Saluzzi And Sal Arnuk Of Themis Trading, Deserves A Prominent Place In It.

When Something Happens People Didn't Predict, They Find Ways To Explain It As If It Were Predictable.

People Were Paid Lots Of Money To Make Stupid Decisions, People In Big Banks, And When People Are Paid To Be Stupid They'll Be Stupid. The Question Was, Did They Know They Were Being Stupid Or Were They Just Stupid? I Think You Need To Take It On A Case By Case Basis. There Was Some Sinister Activity, But I Think By And By It Was People Being Incentivised To Do The Wrong Thing.

At Sgi Board Meetings... Jim Clark's Face Would Get Red And He'd Start Shouting That An Investor And Board Member Had Cheated Him And His Engineers.