In Michael Lewis’s book Going Infinite, there’s this great (and completely true) story about a mega powerful Wall Street firm that used extremely effective statistical calculations to guess the result of the 2016 election. They knew before anybody else that Donald Trump would win the presidency. Statistics worked! Algorithms worked!
But then the human factor came into play. The fancy Wall Street guys detested Trump. (Obviously). So they assumed that his win would tank the market. They bet heavily on that, making gigantic trades on what was, in fact, simply their irrational emotional response to Trump.
They ended up losing hundreds of millions of dollars. All those algorithms, all the data, the calculations. The supposedly autistic, unemotional MIT physicists hired to be traders. The absolutely correct information about the Trump win obtained scientifically hours before anybody else in the world. All sacrificed for an irrational, childish dislike rooted in herd mentality.
So for those Wall Street fellows, the day after the election was not only emotionally devastating but financially crushing. They bet on their fee-fees and lost. It was the largest single loss in the company’s history but the CEOs didn’t punish the traders. They understood and shared the wounded feelings that had caused the mistake.
This is just absolutely hilarious. 🦬 🦬 🦬
Clarissa's Blog 
Hmmm, well, I may be almost 75 and a Canuck, but in 2016 you were given a choice of being hung or fighting a mad dog. And enough of you chose the latter, and were surprised to discover that the circus barker actually meant well and mostly did well ;-D
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That’s a really great summary of the whole thing.
I’m on my way to 🇨🇦🍁🇨🇦 right now, by the way. 🙂
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Interesting tid bit.
They must have really been blinded by their dislike of Trump not to see Trump is a billionaire and in reality their biggest friend.
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Be very careful Kid, because contrary to our Beloved Leader, diversity is not always our strength ;-D
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I know, there’s been way too much diversity in Canada. This has long become unsustainable.
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Shocking.
I was reliably informed that after the Canadian naturalisation process, which involves mandatory gustation of poutine, blancmange, locally produced whiskey, and maple syrup, that it was impossible to remain diverse under the circumstances, having been rendered 100% Canadian.
Next you’ll tell us that Canadian immigrants aren’t hooked up to IVs feeding Canadian Mist and maple syrup!
🙂
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It’s hilarious until you realise these IB savants are playing with other people’s money, often involving retirement schemes.
And so their wishful thinking straddles the line of what the SEC would deem improper conduct only because it all too frequently mirrors the wishful thinking the SEC follows itself.
Consider what spiritual and philosophical materialism means to people focused on money, that’s not too far off the target.
(Also, financially-focused narcissism is a neoliberal social disease, see note on SBF.)
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Hey Crackpot, Canucks create sandwiches of smoked brisket on rye bread slathered with hot mustard and desserts like my late wife’s butter tarts and Nanaimo bars. We also make the best rye whiskeys; pretty damned fine barley whiskys, which we are not allowed to call Scotch, and we once made Sick’s Pilsner beer before it was ruined by Molson’s.
However ‘Murican maple syrup is well, sort of ok, I guess…maybe ;-D
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Sortilege …
Made in Quebec from Canadian whiskey and maple syrup.
Just needs a little squeeze of lemon to be directly usable on crepes.
It comes in slender bottles, but it should also come in IV bags. 🙂
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Clarissa
Well, liberals all across the West should have a hard think about the limits of not only diversity, but sadly perhaps even tolerance itself.
But on a far happier thought, did you manage to enjoy Montreal’s famous smoked brisket sandwiches; it has been more than a dozen years, but I still remember them ;-D
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