Bored to distraction this Succoth evening, desperate for distraction, I googled the personalities involved in Eric Falkenstein's case which I know through Mahalanobis. The conflict is not my business at all, it happens in another planet called Minneapolis Financial District, I shall never meet the actors except if they contract my services as sewage design engineer. The left pic is Peter Hajos, and the second is Tony. My sympathy is with Eric, but if they have anything going for them is their pics. Click on them to make them enjoy themselves. The story is that Eric was working for the Hajos mishpuche (Stephen and Peter), and Efi Gilmor et al, as Fund Manager designing computer trading models. Eric says he discovered in his PhD work that higher the volatility, lower the yield, or whatever. In 2006 Eric decided he to build the models he was building but for himself, resigned and proposed to Irv Kellner to set up a hedge fund. Kellner or Kessler is a kissing amigo and/or business partner of the Hajos, so the story took winds and flied to Hajos's ears, who felt that his Telluride Asset Management didnt need Eric as competitor. A legal demand to stop Eric was issued. Eric posted the documents on the web. This Secret Engineer thinks that Hajos, in Israel, would have had a good case, as it is customary to have a tkufat tzinoon ("cooling down period") between competing employers. Given how fast arb stat strategies grow obsolete, one year is a reasonable period. Another actor, Efi Gilmor, is well known in TAU (he was a mitztayen) and invests in startups. The Hajos name is common in Hungary, but I presume these Hajos are descendants of the Hajos bacsi who made his fortune in river trade in the 19th Century and Hungarized his Jewish name to Hajos, becoming Budapest's laughingstone. Kostolany Andre, the pre-war Paris bourse speculator, describes the idiosyncratic Hajos bacsi (Hajos means Ship-owner in Hungarian. I wonder how it is pronounced in the American Midwest). Now I shall wander off and tell an old Hungarian Jewish joke (Am I becoming an old fart?):
Kohn a híres kereskedő gyors karriert fut be, és a hadiflotta parancsnoka lett. A flotta az ő vezényletével vonul ki a nyílt tengerre, mikor a hajóján hamarosan jelentik neki:
- Gyors ütemben süllyed a barométer.
- Süllyed? Akkor azonnal eladni!