

Ambitious Hacker set out to prove that he could exceed better educated Investment Bankers - ashwinl
http://online.wsj.com/article/SB120191910348337311.html

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ovi256
Please see The Reg's article about this
(<http://www.theregister.co.uk/2008/01/31/kerviel/>). The WSJ's article is
nothing but parroting of SG's press releases. They are hard at work trying to
save their asses, and everybody in the industry agrees that JKE could not have
done what he did without his managers knowing, and furthermore, that he is now
made into a scapegoat. WSJ is right about one thing: they are full of hubris.

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rms
I enjoyed the story but I'm not sure how much of a hacker this guy was.

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ashwinl
Hmm...I think you're right.

I use this definition (<http://www.catb.org/~esr/faqs/hacker-
howto.html#attitude>) as my definition of a hacker:

"Hackers solve problems and build things, and they believe in freedom and
voluntary mutual help."

So, would you label our friend here? If so, what label would you put on him?

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rms
If he hacked the system to make 7 billion dollars, let's say by betting badly
and having a friend take the opposite bet, maybe he would have been a hacker,
in the criminal sense.

But as it stands, he was just addicted to gambling with someone else's money.
The whole situation is just kind of sad.

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ced
He failed. Misleading title. He essentially took huge, undeducated gambles.
Does anyone remember the name of the strategy that involves doubling your bet
at every step, so that you could always with a single win end up "positive"?
(assuming infinite money supply of course)

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ashwinl
I am assuming it is the word, 'Hacker' that you believe is misleading, true?

If so, are you implying that because he failed, he is not a hacker?

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ced
Well, hacker is part of the issue. I guess he hacked the check system, but not
the market in any meaningful way. Like I said, he followed his gut, which is a
strategy employed by millions, with comparable results.

The misleading part of the title (to which "hacker" contributed) is that it
looks like he succeeded, and thus that one could learn from reading the
article. It's a very debatable point, I guess... No offense intended to the
submitter.

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wallflower
He was up 500 million Euros in late 2007 and never thought of going legit?
That is serious delusional reality. I think he's as much as a hacker as a
script kiddie

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motoko
This just off the newsreels:

Gattaca HQ, USA: Crew member dies of heart condition on Titan Mission,
investigation pending

