Re:Rules for Choosing Nonfiction Books
by kortilla on Saturday February 09, 2019 @03:57AM
(#19121413)
Flash boys was pretty much one sided incorrect views about how HFTs work designed as an advertisement for a new exchange.
It was highly read and picked up by armchair experts everywhere leading to lots of outrage against... not much in particular other than evil Wall Street people stealing muh money.
The Big Short is in a similar category although it wasn’t really an ad so much as an excuse for everyone who overleveraged on their mortgage to pat themselves on the back and shirk the responsibility of financial ignorance onto “evil Wall Street people”. The movie (while entertaining) was even worse.
>As we can obviously see, even professionals in medical sciences were wrong about Theranos. How did John Carreyrou, a WSJ reporter, do such a good job reporting on them?
Simple, medical professionals aren’t equipped to sniff out business fraud signals like investigators of businesses. Given that Theranos didn’t have technology, it didn’t take any more medical expertise to explain that then it took medical expertise to explain Bernie Madoff.
It was highly read and picked up by armchair experts everywhere leading to lots of outrage against... not much in particular other than evil Wall Street people stealing muh money.
The Big Short is in a similar category although it wasn’t really an ad so much as an excuse for everyone who overleveraged on their mortgage to pat themselves on the back and shirk the responsibility of financial ignorance onto “evil Wall Street people”. The movie (while entertaining) was even worse.
>As we can obviously see, even professionals in medical sciences were wrong about Theranos. How did John Carreyrou, a WSJ reporter, do such a good job reporting on them?
Simple, medical professionals aren’t equipped to sniff out business fraud signals like investigators of businesses. Given that Theranos didn’t have technology, it didn’t take any more medical expertise to explain that then it took medical expertise to explain Bernie Madoff.