And we are still here!
Hope your day goes as well.
Wishing all a very happy and safe holiday season.
UBS AG, Switzerland’s biggest bank, fired its head of credit-default swaps index trading, David Gallers, last week, with no plan to fill the position, according to two people familiar with the matter.
Instead, the bank replaced Gallers with computer algorithms that trade using mathematical models, said the people, who asked not to be identified because moves are private.
Can someone explain exactly why derivatives traders were getting paid $2MM/annually before their techniques were automated?
What could possibly go wrong?
Simple question! Who wrote the algorithms?
Obvious answer! The people they just turfed out!
So the situation is better?
Congrats to the US of A for electing Obama as President for a second term.
We had a family dinner tonight to celebrate the occasion here in Oz.
When my 15 year old Australian daughter gave me reasons why everybody should be proud of some of the new female additions to the the American Senate, I felt like I’ve done something right. So should America.