Wall Street Oasis - Investment Banking & Finance Community: WSO Exclusive: Legerdemath - Anatomy of a Banking Trick

Wall Street Oasis - Investment Banking & Finance Community The Wall Street Finance Community where investment bankers, consultants, traders, private equity and hedge fund professionals come to learn and play.

WSO Exclusive: Legerdemath - Anatomy of a Banking Trick Jun 8th 2013, 11:30 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... read more Media files: preview (image/jpeg, 0 MB)

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