Posted on 04/03/2009 4:45:35 PM PDT by bobsunshine
Hiding? David is absolutely not hiding. He left DESCO a few years ago to focus his brain (the smartest guy I ever met by a mile) and his fortune on bio-chem research. He also married a very public person. He has no ‘one’ replacement. A team of six runs the show (like having six CEOs).
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Pssst, David, is that you?
DESCO is privately held, they are under no SEC requirements to make upper management info available to the public.
Quantum trading simplified...
Quantum trading or Electronic Arbitrage is the science of exploiting micro-second anomalies in stock prices by buying millions of shares at the lower price and virtually simultaenously selling at the higher price. Eg...if ATT is trading in NY at 22.50 but due to data lags is trading at the exact same time for 22.52 in London the computer tracking triggers a massive buy/sell taking the .02 profit.
The technology required to track every traded stock in real time in all global markets and then execute the buy and sell within a micro-second is close to science fiction.
In the 1980s Shaw was a Columbia University Math PHD who saw the opportunity to create wealth through electronic arbitrage or quantum trading. He wrote the codes for Morgan Stanley then raised $28 million from seven investors and built his own machine room.
By 1992 (when I first was involved tangentially) DESCO was trading a number of shares that equalled 5% of the total NYSE activity on a daily basis. All untouched by human hands so to speak.
Shaw built on this into a global enterprise and then walked away, leaving the day-to-day operation in the hands of six long-term executives. He wants to find or fund the finding of a cure for cancer. That is how he spends his time these days.
The DESCO culture has always been a little weird (eg...no hires who showed less than 1550 on SATS - PHDs as receptionists). It has also always been very secretive.
But, weird and secretive do not equal nefarious.
As for Shaw involvement in national politics, I can say this...
In 1991 Shaw conducted a search for a democrat to beat Bush Sr. He was the first to interview Clinton. He liked what he saw and introduced Clinton to Wall Street. Essentially, Shaw was the kingmaker in 1992. In 2000 Gore came to Shaw looking for the same support. A friend of mine was in the meeting. He told me that Shaw's reaction was that Gore was 'scary'. Gore received no support from Shaw. Since then it is my understanding that Shaw has stayed away from playing politics.
Thx for the info.
I see a possible problem with your explantion, but will first check with some experts.
Summers received money from Wall Street: report
AFP on Yahoo | 4/4/09 | AFP
Posted on 04/04/2009 10:23:02 AM PDT by NormsRevenge
http://www.freerepublic.com/focus/news/2222345/posts
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