Tuesday, 14 April 2015 01:14

When front-running is bad.

[from Chapter 10]

After a tour of Crystal Ball’s operations area, Justin followed Eliot into his office. A bank of monitors displayed everything from commodity prices to financial headlines to crawling stock tickers to the evening news in Karachi. Everything of note that happened anywhere on the globe was on display here, up close and in HD. It was almost as though the office was at the center of the world. Waxman looked at one of the screens.

“Our biggest position is in Dynex Holdings. It’s been doing great for the last nine months, but it’s probably time to ditch it.” He picked up the phone and presumably spoke to a broker, probably overseas. “Yeah, sell everything I have in Dynex.” Another phone call, this time to someone internal. “Let’s unload Dynex.” A pause. “Yes, everything.” Then, he looked back at Justin, “Well, now’s the time for our contrarian strategy to pay off.”

Published in Snippets-Lions
Tuesday, 16 July 2013 00:00

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