03-02-2011, 10:13 AM
it's a great book...quick read too. Being made into a movie as well. If I had read Michael Lewis' Liar's Poker in high school, I would have gone into finance instead of engineering. =)
These are the guys:
Cornwall Capital was founded in 2003 by then 30-year olds Charles Ledley and James Mai in a garage in Berkley, CA with $110,000 in capital.[4] Within 2 years they had grown their capital to $15 million by shorting stocks and other investments which they believed were undervalued due to the inability of the market to account for sudden and unexpected change. That is, option prices are set according to past stock performance, and do not take into account unusual or "Black Swan" events that may occur in the future. By finding potential Black Swan events, they were able to make stunning returns in short periods of time.
These are the guys:
Cornwall Capital was founded in 2003 by then 30-year olds Charles Ledley and James Mai in a garage in Berkley, CA with $110,000 in capital.[4] Within 2 years they had grown their capital to $15 million by shorting stocks and other investments which they believed were undervalued due to the inability of the market to account for sudden and unexpected change. That is, option prices are set according to past stock performance, and do not take into account unusual or "Black Swan" events that may occur in the future. By finding potential Black Swan events, they were able to make stunning returns in short periods of time.