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Aug. 7th, 2004 09:05 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
birdwatcherБенуа Мандельброт, изобретатель фрактальной геометрии, нашёл arbitrage opportunity:
``I issue a challenge to Alan Greenspan, Eliot Spitzer, and William Donaldson - Federal Reserve chair, New York attorney general, and SEC chair, respectively. In the April 2003 settlement of postbubble fraud charges, the biggest Wall Street firms agreed to cough up $432.5 million to fund "independent" research. Spitzer's office amply documented that what passed for investment research before was not only wrong but fraudulent. Since then, a long line of media and ratings firms have launched independent businesses. But there has been little discussion of what exactly these researchers should research.
I suggest just a small fraction of that sum - say, 5 percent - be set aside for fundamental research in financial markets''
``I issue a challenge to Alan Greenspan, Eliot Spitzer, and William Donaldson - Federal Reserve chair, New York attorney general, and SEC chair, respectively. In the April 2003 settlement of postbubble fraud charges, the biggest Wall Street firms agreed to cough up $432.5 million to fund "independent" research. Spitzer's office amply documented that what passed for investment research before was not only wrong but fraudulent. Since then, a long line of media and ratings firms have launched independent businesses. But there has been little discussion of what exactly these researchers should research.
I suggest just a small fraction of that sum - say, 5 percent - be set aside for fundamental research in financial markets''