WSO Exclusive: Legerdemath - Anatomy of a Banking Trick

Mod note: Blast from the Past - "Best of Eddie" - This one was originally posted in March 2011.

The following is an exclusive guest post by Omer Rosen, author of the controversial Legerdemath, originally published in the Boston Review. Omer is a former Citigroup corporate derivatives guy, and this latest piece explains the monkey math that was used to pick clients' pockets by confusing them with yields instead of prices. The scheme's elegance is in its simplicity, as the corporate derivatives desk convinced clients to compare apples to oranges and by doing so think they were getting a square deal.

Omer has graciously agreed to respond personally to your questions and comments in the comments section for the first 24 hours this piece is posted. His blog is located at Legerdemath.com and you can (and should) follow his Twitter feed at @omerrosen. Without further ado...

Your Cold Email Just Got A LOT Warmer

Mod Note (Andy): Best of Eddie, this was originally published May, 2013

I try to let you guys know about it when I find something cool or useful, and today I've got something that can make a huge difference in increasing the hit rate on your cold emails.

One of the things that can make cold emailing especially difficult is not knowing when to follow up after you've sent a cold email. Follow up too soon or too often and you look like a desperate stalker; follow up too late or not at all and your prospect thinks you're a flake or that you don't care. The key is to follow up at the exact right time when you know your prospect is interested in hearing from you again. But how could you possibly know that?

Allow me to introduce Yesware, a brilliant Gmail extension that will change your life if you use it properly. Intended as a sales productivity tool, Yesware provides you a wealth of data on the emails you've sent out - and it does it all for FREE.

How does it work? When you send an email to a prospect and you mark it to be tracked, Yesware embeds an HTML pixel into the body of your email that is invisible to your email recipient. What that pixel allows Yesware to do is tell you exactly when your prospect first opens your email, and how many times he or she has since read your email. And it works even if they've disabled read receipts. So how does that help you?

Uncle Eddie Gets in the Tank

Best of Eddie, this was originally posted November 2013

I mentioned last week that I was going to try an isolation tank for the first time and a bunch of you asked me to write about the experience, so here goes. Rather than write a really verbose post about everything from start to finish (this post might run long anyway), I'm just going to go off the notes I took immediately following the experience. Still, if you don't have the time or inclination to read the post, here's the tl:dr version: it was absolutely incredible and you should do it as soon as you're able.

Why did you do it?

Before I get into the specifics of what it was like, it's probably helpful if I cover my reasons for wanting to do it in the first place. There were many, and first among them was curiosity. Ever since I saw Altered States in high school, I've always wondered what it was like and how much of it was just Hollywood bullshit. Was it a life-altering head trip or an hour-long bath? I wanted to find out.

Second, I needed access to the more creative facets of my mind, and if there was even a small chance I could access that it was worth trying. I've recently tripled my workload, and a part of that increase requires a great deal of mental bandwidth. I need to find solutions which don't now exist to problems that do, and that requires maximum creativity. I've read and heard numerous accounts about isolation giving you access to the most creative parts of your brain, parts that only come to the fore when the mind is untethered from the body. Again, it was worth checking out for myself.

Resume Tips from Dom Mazzetti

mod (Andy) note: "Blast from the past - Best of Eddie" If there's an old post from Eddie you'd like to see up again shoot me a message.

You should listen to this guy, he went to Maryland.

Light Pool: Dark Pools Are So Last Year

mod (Andy) note: "Blast from the past - Best of Eddie" If there's an old post from Eddie you'd like to see up again shoot me a message.

Estate Planning: The Shotgun Approach

mod (Andy) note: "Blast from the past - Best of Eddie" If there's an old post from Eddie you'd like to see up again shoot me a message.

Trading Intern Frantically Working on a Drink Order

I'm just gonna leave this right here...

Note the constant approval-seeking and the panic when the drink doesn't drop right away. I'm thinking FT offer.

Hilarious Banker Blows Tinder Date

I just watched this and died laughing, so I thought I'd take a quick break from my vacation and share it with you guys. This guy is the PERFECT banker tool. And good news: it's about to become a series. Enjoy:

New MBAs Head to Asia in Big Numbers

mod (Andy) note: "Blast from the past - Best of Eddie" If there's an old post from Eddie you'd like to see up again shoot me a message.

Is the bloom off the Private Equity rose for today's MBA students? An interesting phenomenon is emerging among recent B-school grads that suggests Asia, and not Wall Street, is the premier destination for newly minted MBAs. Business Week explored the trend a couple months ago in this article.

New Orleans: Veni, Vidi, Victimized

mod (Andy) note: "Blast from the past - Best of Eddie" If there's an old post from Eddie you'd like to see up again shoot me a message.

It's official: two years in Paris has made me soft.

I always just took for granted that I could maintain a professional level of gluttony and intemperance, and that my staid lifestyle in the City of Lights was merely the calm between intermittent storms of debauchery. Unfortunately, my week in New Orleans taught me the hard way that excessive consumption is a muscle like any other, and it atrophies from disuse.

Pages