Financial wiz-kid arrested for fraud

[MariaRubia]

He's considered a wiz kid in the D.R. because Dominicans have low standards.

The other so-called genius, Mantequilla, claimed to have created a "scientific investing formula" that was going to revolutionize the world, and folks believed him.
All he had to say was "fórmula científica" and, coupled with the Dominicans' avarice and low education, money started to pour in.

In fairness I did a post-grad at Oxford University in Algorithmic Trading, which was all about scientific formulae to predict what the market was going to do next, and there was a fair amount of BS involved, in my humble opinion. So he's no better than most of the firms in London or Wall Street.

The reality is that a lot of trading firms had a really good run between 2008 and 2020, and since the pandemic most have been losing huge amounts. Just look at Cathie Wood's losses, she's written books and was regarded as God-like in the trading field.

 

[Kipling333]

In these days of computers and smart phones and so on, many Universities around the world offer online courses where the student never meets other students to discuss and debate subjects .At the end the student will receive a piece of paper with the University crest on it and the University will be a few thousand dollars richer. There are thousands of Dominicans who call themselves lawyers or accountants because they did some hours every week online with a University or went to a University for 3 hours every Saturday morning. In reality, they know little.

 

[playacaribe2]

In fairness I did a post-grad at Oxford University in Algorithmic Trading, which was all about scientific formulae to predict what the market was going to do next, and there was a fair amount of BS involved, in my humble opinion. So he's no better than most of the firms in London or Wall Street.

The reality is that a lot of trading firms had a really good run between 2008 and 2020, and since the pandemic most have been losing huge amounts. Just look at Cathie Wood's losses, she's written books and was regarded as God-like in the trading field.

In fairness, comparing him to a firm in London or Wall Street is apples to oranges.

Since the pandemic, at least as to J.P. Morgan or Goldman, their shares have risen. Certainly there were losses but they have been outweighed by the gains.

As to Cathie Woods, her most widely known and held fund (arkk) has doubled since inception in 2014 or 2015.

This individual appears to be nothing more than a con man hiding behind a masquerade of dubious accomplishments…..who convinced some who did little due diligence to “invest” with his “firm.”

Respectfully,
Playacaribe2