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No Quarter Radio’s Sense on Cents with Larry Doyle Goes “Inside the Black Box” with Rishi Narang

Posted by Larry Doyle on October 10th, 2009 5:53 PM |

UPDATE: This episode of NQR’s Sense on Cents with Larry Doyle has concluded. You can listen to a recording of the episode in its entirety by clicking the play button on the audio player provided below. Once the audio begins, you can advance or rewind to any portion of the episode by clicking at any point along the play bar.


Please join me this Sunday evening, October 11th, from 8-9pm for my weekly radio program Sense on Cents with Larry Doyle on No Quarter Radio. This show is an extension of my regular work at Sense on Cents where I attempt to provide insightful analysis and perspectives on the markets, economy, Wall Street, Washington, and global finance all in hopes of helping you more effectively ‘navigate the economic landscape.’

This week we will go “Inside the Black Box” with Rishi Narang, author of this insightful book which provides ‘the simple truth about quantitative trading.’ In addition to having recently released this fabulous  book, Rishi is the founding principal of Telesis Capital LLC, which invests in quantitative trading strategies. From 2002 to 2005, Rishi was a managing director and co-portfolio manager at Santa Barbara Alpha Strategies. Rishi was president and vice-chairman of Tradeworx, Inc., a quantitative hedge fund manager from 1999-2002. He has been involved in the hedge fund industry with a focus on quantitative trading strategies since 1996. He graduated from the University of California at Berkeley with a BA in economics.

We will not only bring you ‘inside the black box’ but we will make sure you get out of the box, as well. In going in and out of the black box, we will address how and why this business has grown by leaps and bounds on Wall Street. What are the secrets of successful quant trading? What are the pitfalls? What caused some of the disasters in quant trading? How have quants factored into the recent credit crisis? What is the future of this business?

Your host, as a former trader although certainly not a quant, looks forward to having a riveting discussion with Rishi Narang who has provided real transparency into this generally perceived dark corner of the market. Please join me this Sunday evening from 8-9pm EDT as we take this episode of No Quarter Radio’s Sense on Cents with Larry Doyle “Inside the Black Box.”

As a reminder, all of my Sunday evening shows are taped and archived here at Sense on Cents, along with podcasts on iTunes.

Thanks for your support.



Posted by Larry Doyle on March 18th, 2009 3:50 PM |

A precursor to the turmoil roiling our economy and markets today occurred on a smaller, but certainly very dramatic, scale in 1998. The meltdown of the hedge fund Long Term Capital Management brought the market to its knees at the time. LTCM was effectively taken over by a consortium of Wall Street banks at the behest of New York Federal Reserve Chairman, William McDonough. The firms injected approximately $3 billion dollars in order to stabilize LTCM and then unwound it in an orderly fashion.

The lessons learned in the LTCM crisis were obviously not learned well enough because we are experiencing them again a multiple hundred fold. The centerpiece of our current fiasco is AIG (known here at Sense on Cents as “Ain’t It Great”).

The dramatic story of Long Term Capital Management is captured in a book I strongly recommend for anybody interested in the history of the financial markets. When Genius Failed, by Roger Lowenstein, is a great read and truly captures the intrigue, egos, and tension of that period. As the current turmoil unwinds I look forward to the books published on this period as well. (more…)

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