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Emphasis added.
August 10, 2012
Ex-Goldman Sachs coder cuffed on fresh 'source theft' charges
Commenting on the latest charges, DA Cyrus Vance said on Thursday: “This code is so highly confidential that it is known in the industry as the firm’s ‘secret sauce'… employees who exploit their access to sensitive information should expect to face criminal prosecution in New York State in appropriate cases."
In the battle between the retail investor's tools and the institutional investor's tools, I'm going to have to side with the secret sauce. Call it a hunch.
See Also:
Encyclopedia Britannica: Confidence Game
6 comments:
This is the #1 reason I try to trade as little as humanly possible by the way.
I am not an ideal customer for a brokerage firm.
In fact, most of my investments were purchased directly from the government with the intent to hold to maturity (TIPS, I-Bonds, and even a small chunk of EE-Bonds). I have bypassed my brokerage firm as much as I could.
My brokerage firm still has my IRA (holds one ultra long-term TIPS bond). It's also generating some interest that I have to reinvest at some point. Can't do much about that.
I also have a non-IRA account. I check up on the one cent that's in it every now and then. Seriously. It's just a penny. I can only imagine what inflation will do to it in the coming years. I try to not lose too much sleep over it though, lol.
It's all just a big casino to me and the casino continues to grow. I just don't have much desire to play any longer.
I'm going to have to side with the secret sauce.
Your linked article reminded me just how rigged the system is (as if I could forget). In short, if you steal from Goldman or any of the other Casinos you get prosecuted. If Goldman steals from you....... too effing bad.
Post financial crisis, our solution to tbtf banks was to make them even bigger. What more do you need to know?
You need confidence if you are going to play a confidence game aka con game. TD Ameritrade wants to help you build the confidence.
the first 3 letters help you with that decision..
mab,
Post financial crisis...
Isn't it wonderful to know that it is all in the past? We can now be as optimistic as ever! Just look at today's stock market. ;)
Mr Slippery & honestcreditguy,
Our economy is constipated. We've really put the lid on future growth.
Ba-dum Ching! Sigh.
(Be sure to read the product's one review, lol.)
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