Did someone try to steal Goldman Sachs’ secret sauce (source code)?

Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by staunch on Monday July 06, 2009 @11:24AM (#689786)

Don't forget that Goldman has every incentive in the world to hype the importance of the code, so that they can use the FBI to punish this guy. This almost certainly could have been handled with a lawsuit.

Surely they've had people quit to work for competitors in the past. People who knew exactly how their code and current strategies operated. All this guy did was actually copy the code, which is clearly IP infringement, but not necessarily so much more damaging in practical terms.

Don't underestimate the vindictiveness and competitiveness of these financial guys.

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Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by smanek on Monday July 06, 2009 @01:21PM (#689999)

I don't know if they want to hype it that much. They are a publicly traded and looking unnecessarily weak could cause a huge unwarranted dip in their market cap (which they have a fiduciary responsibility to prevent).

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Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by jonknee on Monday July 06, 2009 @01:38PM (#690042)

Maybe they have already shorted their own shares.

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Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by eru on Monday July 06, 2009 @02:13PM (#690135)

That would be the same as putting more of their shares on the market. (Assuming they can always plug the short with newly created shares.)

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Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by quizbiz on Monday July 06, 2009 @04:41PM (#690412)

I have always wondered if brokers are allowed to trade stocks of their own firm.

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Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by dandelany on Monday July 06, 2009 @06:05PM (#690529)

Yes, as long as they do so based solely on material, public information and report all transactions to the SEC.

Obviously, this is nearly impossible to police.

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Re:Did someone try to steal Goldman Sachs’ secret sauce (sou... by bsaunder on Monday July 06, 2009 @01:21PM (#689998)

Perhaps you are undervaluing the practical worth of this code.

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