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Citadel Investment Group
(23.05.2008) У Citadel - один из наиболее мощных по интеллектуальной силе аналитических отделов среди всех инвестиционных фондов, а также есть «запасная» компьютерная система, расположенная где-то за пределами Чикаго. …Два основных фонда, через которые Citadel торгует на биржах, ...

(23.05.2008) У Citadel - один из наиболее мощных по интеллектуальной силе аналитических отделов среди всех инвестиционных фондов, а также есть «запасная» компьютерная система, расположенная где-то за пределами Чикаго.

…Два основных фонда, через которые Citadel торгует на биржах, называются Kensington Global и Wellington. Сейчас на Citadel приходится 2-3% дневного оборота торгов на Нью-Йоркской, Лондонской и Токийских биржах (около 70 млн. акций), почти 10% рынка казначейских облигаций и около 15% рынка опционов. На рынке опционов Citadel – единственный хедж-фонд, который может действительно серьезно на влиять на торги.

Фонд не ограничивает свою торговлю перечисленными инструментами, а зарабатывает буквально на всем, что продается и покупается: от фьючерсов на газ до валюты

 

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20 июля, 15:00

Соавтор вредоносного ПО Citadel осужден на 5 лет лишения свободы

Марк Вартанян работал над развитием и распространением вредоносной программы с августа 2012 года по июнь 2014 года.

20 июля, 09:30

Российского хакера Марка Вартаняна приговорили в США к пяти годам тюрьмы

Гражданина РФ Марка Вартаняна приговорили американским судом к пяти годам лишения свободы за мошенничество и разработку компьютерного вируса, сообщает ТАСС со ссылкой на Associated Press.

19 июля, 22:16

Экстрадированный из Норвегии россиянин осужден в США на пять лет за кибермошенничество

Федеральный суд в американском штате Джорджия (США) приговорил гражданина России Марка Вартаняна к пяти годам лишения свободы за разработку и распространение вируса Citadel. Об этом сообщает газета Star Tribune.С помощью вредоносной программы можно было похитить банковскую информацию и денежные средства. Прокуратура передает, что вирус Citadel заразил 11 млн компьютеров по всему миру и нанес ущерб на сумму более $500 млн.Марк Вартанян был задержан в сентябре 2015 года в Норвегии, в декабре 2016 года его экстрадировали в США. 14 марта 2017 года хакер предстал перед судом и через неделю после этого признал вину.Подробнее — в материале «Ъ FM» «Хозяин "Цитадели"».

19 июля, 22:01

Россиянина Вартаняна приговорили в США к пяти годам тюрьмы

Гражданин России Марк Вартанян приговорен судом в американской Атланте к пяти годам лишения свободы за хакерские атаки с помощью разработанного им самим вируса и за мошенничество, сообщают СМИ. Ему засчитали два года в тюрьме Норвегии, поэтому срок сокращен до трех лет, передает «Интерфакс» со ссылкой на Associated Press. В марте Вартанян согласился признать вину в обмен на более мягкое наказание. Его программа Citadel Trojan позволяла получать банковские данные пользователей. Распространял он ее во время проживания на Украине и в Норвегии с 2012 по 2014 годы. Ущерб от вируса оценили в 500 млн долларов. В декабре 2016 года Вартанян был экстрадирован из Норвегии в США.

19 июля, 21:58

Россиянин получил в США 5 лет тюрьмы за хакерство

Марк Вартанян – гражданин России — приговорен окружным судом Северного округа американского штата Джорджия к пяти годам тюрьмы за хакерство. Сам он признал себя виновным в одном эпизоде компьютерного мошенничества.

19 июля, 21:20

Россиянина приговорили к пяти годам тюрьмы в США за кибермошенничество

Гражданин России Марк Вартанян, экстрадированный в декабре 2016 года из Норвегии в США, приговорён к пяти годам тюрьмы за кибермошенничество. Как сообщает портал "Утро.ру", молодой человек признал свою вину. Отмечается, что Вартаняну зачтётся время, уже проведённое им в тюрьме. Его обвинили в разработке, совершенствовании и распространении вредоносной программы Citadel ("Цитадель"), которой было заражено около 11 миллионов компьютеров по всему миру.

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19 июля, 20:40

В США приговорили россиянина к пяти годам тюрьмы за компьютерное мошенничество

Марк Вартанян обвинялся в разработке и торговле "программы Citadel, предназначенной для инфицирования компьютерных систем и хищения реквизитов учетных записей финансовых счетов"

19 июля, 20:31

Россиянин сел в тюрьму в США за кибермошенничество

Гражданин России Марк Вартанян, признавший вину в компьютерном мошенничестве, приговорен в США к 5 годам тюрьмы. Вердикт был вынесен 19 июля судьей в американском городе Атланта в штате Джорджия, сообщила газета Star Tribune. По данным источника, Вартаняну зачтется время, уже проведенное им в тюрьме. Он был задержан в Норвегии по запросу властей США в октябре 2014 года и заключенв тюрьму. В

16 июля, 04:56

Photos Of Aleppo Rising: Swimsuits, Concerts And Rebuilding In First Jihadi-Free Summer

When taxi and bus drivers take journalists into Syria via the Beirut-Damascus Highway these days, there's a common greeting that has become a kind of local tradition as the drivers pull into their Damascus area destinations. They confidently tell their passengers: "welcome to the real Syria." Local Syrians living in government areas are all too aware of how the outside world perceives the government and the cities under its control. After years of often deceptive imagery and footage produced by opposition fighters coordinating with an eager Western press bent on vilifying Assad as "worse than Hitler", many average Syrian citizens increasingly take to social media to post images and scenes of Syria that present a different vision: they see their war-torn land as fundamentally secular, religiously plural, socially tolerant, and slowly returning to normalcy under stabilizing government institutions. As the most intense phase of fighting in Aleppo was unfolding in 2016, veteran journalist Stephen Kinzer took to the editorial pages of the Boston Globe to remind Americans that the media has created a fantasy land concerning Syria. Kinzer painted a picture quite opposite the common perception: Coverage of the Syrian war will be remembered as one of the most shameful episodes in the history of the American press... For three years, violent militants have run Aleppo. Their rule began with a wave of repression. They posted notices warning residents: “Don’t send your children to school. If you do, we will get the backpack and you will get the coffin.” Then they destroyed factories, hoping that unemployed workers would have no recourse other than to become fighters. They trucked looted machinery to Turkey and sold it...   The United States has the power to decree the death of nations. It can do so with popular support because many Americans — and many journalists — are content with the official story. Now, during the first summer of relative calm Aleppo residents have seen in over four years of grinding conflict, the city commonly referred as "the jewel of Syria" is once again rising from the ashes. Foreign journalists are also accessing places like East Aleppo and the heart of the walled 'old city' for the first time. Some few honest correspondents, unable to deny the local population's spirit of hopefulness and zeal with which they undertake rebuilding projects, acknowledge that stability and normalcy have returned only after the last jihadists were expelled by the Syrian government and its allies. Aleppo orchestra concert, Summer 2017/via Sarah Abdallah A Western press and political class which generally mourned the liberation of the city from al-Qaeda groups like Nusra (AQ in Syria), calling government actions a 'massacre' and 'genocide', now finds a reality that can't be ignored or denied: Aleppines are returning to ravaged parts of the city to rebuild, they are enjoying nightlife, going to music concerts, staying out late at cafes; families are swimming at local pools, women are strolling around in t-shirts and jeans free of the oppressive Wahhabi fighters that once ruled parts of the city. Kinzer's Boston Globe piece further concluded that the entire web of assumptions on Syria woven by the media and fed to the public over the years were "appallingly distant from reality" and warned that these lies are "likely to prolong the war and condemn more Syrians to suffering and death." As new photos continue to emerge of the real Aleppo and the real Syria it is essential to revisit the most destructive among the lies that have helped serve to prolong this tragic and brutal war. Aleppines didn't want to live under Wahhabi Islamist rule Andalusia Swimming Pool in Aleppo, Summer 2017/via Syria Daily According to multiple eyewitness reports and studies, the story of how war entered Aleppo's environs was not primarily one of mass public protests and government crackdown, but of an aggressive jihadist insurgency that erupted suddenly and fueled from outside the city. According to then Indian ambassador to Syria, V.P. Haran (Amb. to Syria from 2009 to 2012), Aleppo on the whole was unwillingly dragged into the war after remaining silent and stable while other cities raged. In an interview which detailed his own on-the-ground experience of the opening years of war in Syria, the ambassador said: Soon parts of Latakia, Homs and Hama were chaotic but Aleppo remained calm and this troubled the opposition greatly. The opposition couldn’t get the people in Aleppo to rise up against the regime so they sent bus loads of people to Aleppo. These people would burn something on the streets and leave. Journalists would then broadcast this saying Aleppo had risen. Why did it take until July 2012 - well over a year since conflict in Syria began - for Aleppo to see any fighting? Why did residents not "rise up" against the government? The answer is simple. The majority of Syrians, whether Sunni, Shia, Alawi, Christian, Kurd, or Ismaili, are sane individuals – they’ve seen what life is like under the “alternative” rebel rule marked by sharia courts, smoke and alcohol bans, public floggings, street executions, desecration of churches, and religious and ethnic cleansing of minorities. They recognize that there is a real Syrian national identity, and it goes beyond mere loyalty to the current ruling clique that happens to be in power, but in Syria as a pluralistic Levantine society that rejects Saudi style theocracy. Rebuilding Aleppo, Summer 2017. Latin Parish of St. Francis/via Sarah Abdallah The kind of religious and cultural pluralism represented in the liberal democracies of the West are present in Syria, ironically, through a kind of government-mandated “go along, get along” policy backed by an authoritarian police state. One can even find Syrian Jews living in the historic Jewish quarter of Damascus’ walled old city to this day. Syrian urban centers have for decades been marked by a quasi-secular culture and public life of pluralist co-existence. Aleppo itself was always a thriving merchant center where a typical street scene would involve women without head-coverings walking side by side with women wearing veils (hijab), cinemas and liquor stores, late night hookah smoke filled cafés, and large churches and mosques neighboring each other with various communities living in peaceful co-existence. By many accounts, the once vibrant secular and pluralist Aleppo is now coming back to life (and largely never left government-held West Aleppo). "Moderates" did not "liberate" Aleppo, but gave cover to an ISIS and al-Qaeda invasion Image: "moderate" rebels mock a Christian government soldier—This photo was originally posted online by a Swedish based terror group in Syria after the Summer 2013 rebel offensive against the Menagh airbase near Aleppo. A rebel fighter mocks a captured Christian government soldier’s cross. Another photo posted in the original set reveals that the soldier was later tortured by being crushed with a large rock on his chest as he lay on his back. One of the most under reported and least understood events surrounding the history of how all of Aleppo province and the Northern Syria region became a hotbed of foreign jihadists is the fall of the strategically located Menagh airbase near Aleppo. As a Reuters timeline of events indicates: In early 2012 rebels take control of the rural areas northwest of Aleppo city, besieging the Menagh military air base and the largely Shiite towns of Nubl and Zahra. After a lengthy siege of Menagh, the base finally fell to jihadist factions under the command of the US-backed Free Syrian Army (FSA) in August of 2013. This event was key to rebel fighters gaining enough territory to cut off the Aleppo-Damascus Highway, which allowed them to encircle all of Aleppo for much of that year. But a little known yet hugely important detail of the Menagh episode is that rebels only got the upper hand after being joined by ISIS suicide bombers commanded by Omar the Chechen (ISIS' now deceased most senior military commander). The fall of this government base is what opened a permanent jihadi corridor in the North, allowing terrorists to flood the area. The commander for the operation was US Ambassador Robert Ford's personal friend, Col. Abdel Jabbar al-Okaidi, who was head of the US and UK funded Revolutionary Military Council of Aleppo (FSA). Okaidi worked in tandem with ISIS military commander Omar the Chechen and his crew for the operation - all while being supported by the United States and Great Britain. Concerning US-backed Okaidi's close relationship to the ISIS faction in the summer of 2013, there is actually video evidence and eyewitness testimony (US Ambassador Ford himself later admitted the relationship to McClatchy News). Amazingly, the video, titled “US Key Man in Syria Worked Closely with ISIL and Jabhat al Nusra” never had very widespread public distribution, even though it has been authenticated by the top Syria expert in the U.S., Joshua Landis, of the University of Oklahoma, and author of the hugely influential Syria Comment. Using his Twitter account, Dr. Landis commented: “in 2013 WINEP advocated sending all US military aid thru him [Col. Okaidi]. Underscores US problem w moderates.” The video, documenting (now former) U.S. Ambassador Robert Ford’s visit to FSA Col. Okaidi in Northern Syria, also shows the same Col. Okaidi celebrating with and praising a well-known ISIS commander, Emir Abu Jandal, after conducting the joint Menagh operation. In an interview, this U.S. “key man” at that time, through which U.S. assistance flowed, also praised ISIS and al-Qaeda as the FSA’s “brothers.” Abu Jandal was part of Omar the Chechen's ISIS crew assisting the FSA. Further video evidence also confirms Omar the Chechen's role at Menagh. The videos also show Okaidi proudly declaring that al-Nusra (Al-Qaeda in Syria) makes up ten percent of the FSA. The FSA was always more of a branding campaign to sell the rebels as "moderates" to a gullible Western media than a reality on the ground; it was a loose coalition of various groups espousing militant jihad with the end goal of establishing an Islamist polity in Syria. Foreign fighters flooded Aleppo Province. The U.S. State Department’s own numbers: read the full report at STATE.GOV In the end, terror groups like ISIS enjoyed a meteoric rise in Syria due to US government and media support for these so-called "moderate rebels" - all entities which collectively sought regime change at all costs - even the high cost of mass civilian death and suffering that inevitably results from unleashing an insurgency in urban areas. The Syrian Army and government were never "Shia" or sectarian-based Al Aziziyah neighborhood in Aleppo/via Syria Daily The Arab Spring narrative was the ideological lens through which experts initially pit the oppressive supposedly “Alawite/Shia regime” against a popular uprising of Syria’s majority Sunnis. As Sunnis make up about 70% of Syria’s population, it was simply a matter of numbers, and of time. But this view proved overly simplistic, and according to one little known West Point study, utterly false. It was commonly assumed that the Syrian Army was a hollowed out Alawite institution with its Sunni conscripts apprehensively waiting for the right moment to defect to the rebel side. This was the fundamental supposition behind years of repetitious predictions of the Assad regime’s impending collapse, and predicated upon a view of the Syrian military as a fundamentally weak and sectarian institution. But West Point's 2015 study entitled Syria’s Sunnis and the Regime’s Resilience concluded the following: Sunnis and, more specifically, Sunni Arabs, continue to make up the majority of the regular army’s rank-and- file membership. The study's unpopular findings confirmed that the Syrian Army, which has been the glue holding the state together throughout this war, remains primarily a Sunni enterprise while its guiding ideology is firmly nationalistic and not sectarian. The highest ranking Syrian officer to fall victim to rebel attack was General Dawoud Rajiha, Defense Minister and former chief of staff of the army, in a major 2012 bombing of a Damascus national security office. General Rajiha was an Orthodox Christian. Numerous Christians and officers of other religious backgrounds have served top positions in the Syrian Army going back decades - a reflection of Syria's generally nationalist and religiously tolerant atmosphere. Mainstream press did not report from Aleppo, but was hundreds of miles away. Outside the Citadel of Aleppo: life returning to normal, Summer 2017/via Syria Daily The heavily populated urban areas of Syria continue to be held by the government. But most reporting has tended to dehumanize any voice coming out of government held areas, which includes the majority of Syrians. The war has resulted in over 6.5 million internally displaced people - the vast majority of which have sought refuge in government territory.  The fact remains that there are some popular figures in the establishment media and analyst community who speak and write frequently about Syria, and yet have never spent a significant amount of time in the country. Throughout much of the war they've primarily reported from Western capitals - thousands of miles away - or, if they are in a Middle East bureau, without ever leaving the safety of places like Beirut or Istanbul. Fewer still have the necessary Arabic language skills to keep pace with local and regional events. Some have never been to Syria at all. They become willing conduits of rebel propaganda beamed through WhatsApp messages and Skype interviews, which was especially the case when it came to the battle for Aleppo. That much of the world actually considers these people as authorities on what’s happening in Syria is a joke – it’s beyond absurd. Outdoor concert venue and Aleppo springs back to life, Summer 2017/via Maram Kasem We are hopeful that the jihadist menace will be fully expelled and that the international proxy war which has taken so many lives and reduced much of a beautiful nation to rubble will finally come to an end. Aleppines and other Syrians are rebuilding - they are optimistically preparing for the future. Welcome to the real Aleppo. Final national exams just before summer 2017/via Syria Daily

14 июля, 17:44

5 reasons to visit the UNESCO island town of Sviyazhsk

1. Huge cultural legacy The Assumption Cathedral and Monastery in the island town of Sviyazhsk. / Egor Aleev/TASS Tourists from all over the world come here to enjoy Russia’s unique history - the place has hardly changed over the last century. With no fewer than 37 cultural monuments on the island, including two monasteries and seven churches, you’ll be pushed to visit each and every one. Among them is Trinity Church – the only preserved wooden church in Sviyazhsk from the times of Ivan the Terrible. It was built without a single nail and the axe marks made by the Yaroslavl carpenters can still be seen - just don’t smoke inside! 2. One of the youngest Russian islands Island town of Sviyazhsk in Zelenodolsk district of Tatarstan. / Vladimir Astapkovich/RIA Novosti Until 1957, Sviyazhsk only became an island when the water rose to a certain level. However, the authorities decided to build the Togliatti Hydroelectric Power Station, flooding the surrounding villages in the process - only then was Sviyazhsk transformed into a permanent island. For a long time, it was only possible to reach the island by boat. Land access wasn’t restored until a dam and roadway were built connecting Sviyazhsk to the left bank of the Sviyaga River via Tatarskaya Griva Island. 3. It took no time at all to build an entire town - just 4 weeks Sviyazsk during Soviet times, August 1988. / Mikhail Medvedev/TASS With an area spanning 62 hectares, the island town of Sviyazhsk is located on a hill in the estuary of the Sviyaga River, some 19 miles from Tatarstan’s capital of Kazan. It was founded as a fortress by Ivan the Terrible in 1551 and became the first Orthodox city in the middle reaches of the Volga. The stone Assumption Cathedral was built ten years later. Back then,  Kazan - the capital of the Khanate - was an unassailable fortress. As a result, Sviyazhsk was known as “Conqueror City." The citadel and town were built in just four weeks, using a 75,000-strong workforce (it was larger than than Moscow’s Kremlin at the time). A town has never been built so quickly in Russia. Many monasteries were built in Sviyazhsk: Culture, trade, and crafts flourished. In 1781 the former citadel became a city of 10,000 people. Today, only about 200 people live there. 4. World’s only fresco of St. Christopher with horse’s head The fresco 'St. Christopher' in the Assumption Cathedral in Sviyazhsk. / Maksim Bogodvid/RIA Novosti The interior of Dormition Cathedral is unique thanks to its 16th century frescoes, many of which have survived and were restored in the 1990s. The Cathedral boasts the world’s only fresco depicting St. Christopher with a horse’s head (he’s usually shown with the head of the dog). According to the legend, the Saint was so handsome that scores of women were always trying to get him in the sack, so he asked God to make him ugly - hence he was given a horse’s noggin (don’t ask about the rest of his body). Most images of Christopher sporting an animal head were destroyed in the 18th century, from which point he is portrayed with a human head. "I first visited Sviyazhsk in May 2003 and was astonished, not only by the distinctive architecture, but also by the beauty of the Volga River. At that time the restoration of the St. John the Baptist Convent and Dormition Monastery had only just begun, but the frescoes in Dormition Cathedral were visible in all their glory," said William Brumfield, author of Architecture at the End of the Earth, who in 2014 rallied for both sites to be included on UNESCO’s World Heritage List. Frescoes in the Assumption Cathedral at the Sviyazhsk Assumption Monastery. / Maksim Bogodvid/RIA Novosti Among the most famous and valuable frescoes, which can be seen in the Cathedral, are “Adam and Eve in the Garden of Eden,” “Holy Trinity,” and “St. John the Divine,” among others.   “The cathedral’s frescoes are some of the rarest examples of Eastern Orthodox mural painting,” notes the UNESCO World Heritage Convention’s website.  5. ‘Russian Alcatraz’ The monument to political prisoners at the Sviyazhsk State Museum of History and Architecture. / Maksim Bogodvid/RIA Novosti After the 1917 Revolution, Sviyazhsk became one of the first places to suffer Soviet political repression. Its monasteries were abolished and transformed into transit prisons and concentration camps, and later into psychiatric hospitals. Due to its location on the island, the town was sometimes compared to the former U.S. prison of Alcatraz in San Francisco.  In 2011, the local museum - once a prison where inmates were shot - was reopened after reconstruction work. Visitors can view a cell still containing a prisoner’s belongings, and there is also a monument to the victims of political repression on the island in the form a two-meter tall marble slab. Read more: Sviyazhsk: Ivan the Terrible’s fortress on the Volga

13 июля, 22:37

President Donald J. Trump Announces Fifth Wave of Judicial Candidates

The President today announced his intent to nominate these eleven individuals to the following Federal judgeships. If confirmed, Annemarie Carney Axon of Alabama will serve as a District Judge on the United States District Court for the Northern District of Alabama. Annemarie Axon is a member of the Birmingham law firm of Wallace, Jordan, Ratliff, & Brandt, LLC, where she litigates trust, estate, and business cases in both trial and appellate courts. Before joining the firm, Mrs. Axon served as Assistant Vice President of AmSouth Bank and as an associate at the law firm of Edwards and Angell, LLP in Providence, Rhode Island. Immediately upon graduation from law school, Mrs. Axon served as a law clerk to Judge Inge P. Johnson of the United States District Court for the Northern District of Alabama. Mrs. Axon received her B.A. from the University of Alabama and J.D. from the University of Alabama School of Law. If confirmed, Michael Lawrence Brown of Georgia will serve as a District Judge on the United States District Court for the Northern District of Georgia. Mike Brown is an equity partner and co-chair of the White Collar and Government Investigations practice group in the Atlanta office of Alston & Bird LLP. Prior to joining Alston & Bird, Mr. Brown served for six years as an Assistant United States Attorney in the Northern District of Georgia and in the Southern District of Florida, where he tried more than twenty-five cases and argued criminal appeals. Before entering government service, Mr. Brown spent four years as a litigation associate in the Atlanta office of King & Spalding LLP. Mr. Brown clerked for Judge J.L. Edmondson of the United States Court of Appeals for the Eleventh Circuit in Atlanta. He received his B.A. from Georgetown University, and his J.D., magna cum laude, from the University of Georgia School of Law, where he was inducted into the Order of the Coif, and served on the editorial board and the managerial board of the Georgia Law Review. If confirmed, Liles C. Burke of Alabama will serve as a District Judge on the United States District Court for the Northern District of Alabama. Judge Liles Burke serves as an Associate Judge on the Alabama Court of Criminal Appeals. Prior to his elevation to the Court of Appeals, Judge Burke served as a Marshall County District Judge, as Acting Circuit Judge, and as a City of Arab Municipal Judge. Prior to ascending to the bench, Judge Burke practiced at the law firm of Burke & Beuoy, P.C., where he represented businesses and individuals in general practice, including domestic, criminal, civil litigation, juvenile, and probate matters. He has also served as a Municipal Prosecutor and Municipal Attorney, and currently serves in the Alabama Army National Guard Judge Advocate General’s (JAG) Corps. Judge Burke received his B.A. from the University of Alabama and J.D. from the University of Alabama School of Law. If confirmed, William L. (“Chip”) Campbell, Jr., of Tennessee, will serve as a District Judge on the United States District Court for the Middle District of Tennessee. Chip Campbell is currently a member in the Nashville office of Frost Brown Todd, LLC, where he handles a wide range of civil litigation matters. Mr. Campbell previously worked as an associate and later a partner in the Nashville firm of Riley Warnock & Jacobson, PLC, and as an associate in the Birmingham, Alabama office of Maynard, Cooper & Gale, P.C. Mr. Campbell received his B.S. from the United States Naval Academy and served seven years in the United States Marine Corps, principally as a Naval Flight Officer. He received his J.D. from the University of Alabama School of Law, where he served as editor-in-chief of the Alabama Law Review. If confirmed, Thomas Alvin Farr of North Carolina, will serve as a District Judge on the United States District Court for the Eastern District of North Carolina. Tom Farr is currently a shareholder in the Raleigh office of Ogletree, Deakins, Nash, Smoak & Stewart, P.C., where his practice focuses on employment matters and constitutional law. Prior to entering private practice, Mr. Farr was an attorney with the National Right to Work Legal Defense Foundation and counsel to the U.S. Senate and Labor Human Resources Committee. Mr. Farr also served as a law clerk to Judge Frank W. Bullock, Jr., of the United States District Court for the Middle District of North Carolina. He received his B.L.S., summa cum laude, from Hillsdale College, where he was co-salutatorian. He received his J.D. from Emory University and an L.L.M. in labor law from Georgetown University. If confirmed, Charles Barnes Goodwin of Oklahoma will serve as a District Judge on the United States District Court for the Western District of Oklahoma. Judge Charles Goodwin currently serves as a United States Magistrate Judge in the Western District of Oklahoma. In that capacity, he has presided over approximately 500 initial proceedings in felony cases, issued approximately 350 opinions in civil cases, and disposed of over 1000 misdemeanor cases. Earlier in his career, Magistrate Judge Goodwin was a partner and civil litigator at Crowe & Dunlevy, P.C., and he served as a law clerk to Judge Lee R. West of the United States District Court for the Western District of Oklahoma and to then-Magistrate Judge Claire V. Eagan in the Northern District of Oklahoma. He received his B.A. from the University of Oklahoma and his J.D. from the University of Oklahoma College of Law, where he served on the Oklahoma Law Review. If confirmed, Mark S. Norris, Sr., of Tennessee, will serve as a District Judge on the United States District Court for the Western District of Tennessee. Mark Norris currently serves as special counsel in the Memphis office of Adams and Reese LLP and as the Senate Majority Leader of the Tennessee General Assembly. His law practice includes a wide variety of civil litigation and business matters. Prior to joining Adams and Reese, Mr. Norris was a Senior Member of Armstrong Allen, PLLC. Mr. Norris was first elected to represent District 32 in the Tennessee Senate in 2000 and has served as Majority Leader since 2007. He previously served on the Shelby County Board of Commissioners. He received his B.A. from Colorado College, and his J.D. from the University of Denver Sturm College of Law. If confirmed, Thomas Lee Robinson Parker, will serve as a District Judge on the United States District Court for the Western District of Tennessee. Tommy Parker is currently a shareholder in the Memphis office of Baker, Donelson, Bearman, Caldwell & Berkowitz, P.C., where he represents clients in civil litigation and criminal matters. Prior to joining Baker Donelson, Mr. Parker served for nine years as an Assistant United States Attorney in the Western District of Tennessee. Prior to his Federal service, Mr. Parker was an associate with Waring Cox Lawyers in Memphis. Mr. Parker previously served as the president of the Memphis Bar Association and is a fellow in the American College of Trial Lawyers. He received his B.S. from the University of South Carolina, and his J.D. from the Vanderbilt University School of Law. If confirmed, William (“Billy”) McCrary Ray, II, of Georgia will serve as a District Judge on the United States District Court for the Northern District of Georgia. Judge Billy Ray currently serves as the Presiding Judge on the Georgia Court of Appeals. Prior to his appointment to the Court of Appeals, Judge Ray served for ten years as a Superior Court Judge on the Gwinnett Judicial Circuit. Before ascending to the bench, Judge Ray served for six years in the Georgia State Senate and was a partner in the Gwinnett County law firm of Andersen, Davidson & Tate, P.C., Judge Ray received his B.B.A from the University of Georgia Terry College of Business, magna cum laude, his M.B.A., from the University of Georgia Terry College of Business, and his J.D., cum laude, from the University of Georgia School of Law. If confirmed, Eli J. Richardson of Tennessee, will serve as a District Judge on the United States District Court for the Middle District of Tennessee. Eli Richardson is currently a member in the Nashville office of Bass, Berry & Sims, PLC, where he represents clients in a range of criminal and civil matters and conducts internal corporate investigations. Mr. Richardson also serves as an adjunct professor at the Vanderbilt University Law School, and previously taught trial advocacy at Belmont University College of Law. Prior to joining Bass, Berry & Sims, Mr. Richardson served for twelve years in the Department of Justice, including four years as a Special Agent in the Federal Bureau of Investigation; seven years as an Assistant United States Attorney in the District of New Jersey and the Middle District of Tennessee; and one year on detail as Resident Legal Advisor to Serbia. Prior to his Federal service, Mr. Richardson practiced law both at law firms and in a solo practice. He received his B.S.E., cum laude, from Duke University, and his J.D. from Vanderbilt University Law School, where he served as a member of the Vanderbilt Law Review. If confirmed, Tilman Eugene (“Tripp”) Self, III, of Georgia will serve as a District Judge on the United States District Court for the Middle District of Georgia. Judge Tripp Self currently serves on the Georgia Court of Appeals. Before his appointment to the Court of Appeals, Judge Self served for ten years as a Superior Court Judge on the Macon Judicial Circuit. Before ascending to the bench, Judge Self was an attorney with the Macon, Georgia, law firm of Sell & Melton, LLP Before attending law school, Judge Self served as a Field Artillery Officer in the United States Army. Judge Self received his B.S. from The Citadel, The Military College of South Carolina, and his J.D. from the University of Georgia School of Law.    

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12 июля, 23:12

Peru protesters strand tourists at Machu Picchu

Protesters in Peru blocked the train line to the famed Inca citadel of Machu Picchu, stranding thousands of tourists Wednesday.

11 июля, 14:04

Tour de France: Marcel Kittel powers to fourth stage win of 2017 race – live!

Riders take on 178km rolling stage from Périgueux to BergeracFroome leads by 18 seconds after high drama on stage nine Week one recap: crashes, controversy and a stage for the agesEmail [email protected] Tweet @GreggBakowski 4.41pm BST There was no drama today, no crashes, nothing to report when it comes to GC contention. Just a very fast German rider leaving all in his wake. Thanks for your emails and comments. I’ll post the results and a race report up here shortly. Bye. 4.39pm BST That was so easy for Kittel – his fourth stage win of the Tour, his 13th in total. A record for a German rider. He’s a class apart at the moment. It does make you wish Sagan and Cavendish were around to give him some competition. Even without a leadout, he’s able to tear through the field. His timing is impeccable. He kept a careful eye on his rivals and went when they were running on fumes. Continue reading...

07 июля, 17:46

The Medieval Fortress of Belozersk: From Prokudin-Gorsky to the present

Belozersk. Brick bridge across moat to east kremlin gate. June 9, 2010 / William Brumfield. At the beginning of the 20th century, the Russian chemist and photographer Sergei Mikhailovich Prokudin-Gorsky invented a complex process for vivid, detailed color photography (see box text below). Inspired to use this new method to record the diversity of the Russian Empire, he photographed numerous historic sites during the decade before the abdication of Tsar Nicholas II in 1917. Primary support for Prokudin-Gorsky’s project came from the Ministry of Transportation, which facilitated his photography along Russia’s rail and waterways. The Ministry was particularly interested in the Mariinsky Waterway, which connected St. Petersburg with the Volga River Basin. In the summer of 1909, Prokudin-Gorsky traveled along this waterway and produced a rich collection of images. Especially significant is the work that he did in the small town of Belozersk, situated on the south shore of White Lake and at that time an active port on the Mariinsky Waterway. To the east of Belozersk, White Lake drains into the Sheksna River, a tributary of the Volga and now part of the route of summer cruise ships that travel between Moscow and St. Petersburg. My own work in the area began in the 1990s and continues to the present. Belozersk kremlin. Church of St. Basil the Great and St. Nicholas (left), bell tower, Cathedral of Transfiguration. Summer 1909. / Sergei Prokudin-Gorsky A frontier fortress Belozersk is one of the earliest historically attested towns in Russia, first mentioned under 862 in the ancient chronicle "Tale of Bygone Years."  The details of its origins are lacking, and, in fact, its location changed more than once. The town was established in its current location in the late 14th century, and in the 15th century, it became a bulwark on Muscovy’s expanding northwestern frontier. Tsar Ivan III (the Great) understood this strategic position, and in 1487 constructed a large fortress, or kremlin, whose earthen ramparts still stand. The Belozersk citadel is one of the best surviving examples of a type of earthen fortress widespread among the eastern Slavs. Roughly quadrilateral in shape, the kremlin was formerly protected on at least two sides by a moat. Its interior southwest portion is occupied by a pond essential for an active fortress. In the late 17th century, the kremlin ramparts still had a log wall containing eight towers and two gates. No longer of military significance, the decaying log walls were removed in the 18th century. The main entrance to the massive earthworks was from the east.  In the late 18th century a graceful arched brick bridge was built to span the ancient moat. Cathedral of Transfiguration, southwest view from south rampart of kremlin. June 9, 2010. / William Brumfield Cathedral complex reflected town’s status As befitted the regional importance of Belozersk, the fortress interior was arranged around a cathedral compound. The existing Cathedral of the Transfiguration of the Savior was begun in 1668 during the reign of the first Romanov Tsar Alexei Mikhailovich and completed in the late 1670s, with a narthex added in the early 19th century. Support for the cathedral’s construction came from both Moscow and local sources. Cathedral of Transfiguration, southeast view from south rampart of kremlin. June 9, 2010 / William Brumfield The Transfiguration Cathedral follows a 16th-century pattern typical for large churches in provincial centers. The facades are each divided into three bays capped by semicircular gables known as zakomary. The cathedral is crowned with large cupolas and high ornamental iron crosses. They are visible in both my photographs and Prokudin-Gorsky’s. The drum, or cylinder, beneath each cupola displays an arched pattern with slender attached columns. Even with its tall cupolas, the height of the Transfiguration Cathedral seems truncated, due in part to a slight subsidence of the boulder foundations into the soft ground--a common occurrence with medieval churches in northwest Russia. Presumably, the builders decided not to risk a taller structure on such a base. An earlier wooden church, dedicated to the Byzantine theologian St. Basil the Great, had also existed at the kremlin site. This church was rebuilt in 1738 as the Cathedral of St. Basil the Great, with a second altar dedicated to Saint Nicholas added on the north side at the turn of the 19th century. The Transfiguration Cathedral itself had a secondary altar dedicated to Basil the Great, whose local cult seems to have arisen during the reign of Grand Prince Basil (Vasily) III, ruler of Muscovy from 1505 to 1533. The two cathedrals were visually unified by an octagonal bell tower. Cathedral of Transfiguration, south facade from south rampart of kremlin. June 9, 2010. / William Brumfield Lost to time The entire ensemble is beautifully presented in Prokudin-Gorsky’s 1909 photograph, taken from the northwest on a summer afternoon. Both the bell tower and St. Basil’s Church were demolished in the Soviet period, leaving only the 17th-century Transfiguration Cathedral. The northwest view is now obscured by trees and later structures. My photographs show clear views from the south and east kremlin ramparts. Cathedral of Transfiguration, southeast view. March 3, 1998. / William Brumfield Prokudin-Gorsky also photographed the cathedral interior, which has one of the most unusual icon screens in the Russian north. This dramatic work of art, which deserves its own space, will be the subject of a future article. A final historical component visible to the left in Prokudin-Gorsky’s photograph is the building that housed local administrative offices. Built around the turn of the 19th century, it has a simplified neoclassical style widespread in the provinces. The structure is seen in the foreground of one of my photographs from the east rampart. Local admin offices with Transfiguration Cathedral in background, view from east rampart. June 9, 2010 / William Brumfield One of the most appealing parts of Prokudin-Gorsky’s photograph is the bucolic view of haystacks among carefully tended plots with potatoes and cabbage. The once active fortress, whose ramparts are visible in the background, reverted to the peaceful use of its fertile soil. Over the next three decades this placid scene would be disfigured in the aftermath of revolutionary change. Brick bridge across moat, view of town from east rampart. December 29, 2010 / William Brumfield In the early 20th century the Russian photographer Sergei Prokudin-Gorsky invented a complex process for color photography. Between 1903 and 1916 he traveled through the Russian Empire and took over 2,000 photographs with the new process, which involved three exposures on a glass plate. In August 1918 he left Russia with a large part of his collection of glass negatives and ultimately resettled in France. After his death in Paris in 1944, his heirs sold his collection to the Library of Congress. In the early 21st century the Library digitized the Prokudin-Gorsky Collection and made it freely available to the global public. A number of Russian websites now have versions of the collection. In 1986 the architectural historian and photographer William Brumfield organized the first exhibit of Prokudin-Gorsky photographs at the Library of Congress. Over a period of work in Russia beginning in 1970, Brumfield has photographed most of the sites visited by Prokudin-Gorsky. This series of articles will juxtapose Prokudin-Gorsky’s views of architectural monuments with photographs taken by Brumfield decades later.  Read more: Ancient Suzdal: From Prokudin-Gorsky to the present

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07 июля, 15:57

Silver Flash Smash was a 'Glitch'- SKG Comment

Last night, unofficial comments from sources were framing the flash crash event as  a 'glitch'  and  they were  ' all over' solving it. This implies there was no person or fat fingered banker spoofing the market. It also implies that the "problem" was electronic. Indeed we think it was. But electronic in what way? Here is an excerpt from our original coverage as it happened 5 Minutes and 10% lower Close up of 5 minute Futures chart with a low of $14.34    Spot Silver dropped 6% before snapping back.    Best we can tell, after the CME reopen of futures someone or some THING sold approximately 8,200 contracts into the market in a 5 minute period. The market immediately snapped back giving the impression this was possibly not an intended trade. But anyone who says  they do know what happened at this point is just speculating. Was it a predatory algo(s) that sold faster than CME's own servers could react by putting up bids on its own electronic book?  That would be a predatory entity that is now expanding its abilities to overload the very servers that update order books. Perhaps inadvertantly, but there you have it. If that were the case, then the weapon is now bigger than the market. Perhaps a new algo was unleashed for testing and did glitch, selling when it shouldn't have. If that is the case, than some geek is getting his butt chewed. Back  to the rebalancing of a specialist book idea. As ludicrous as this sounds, it is not unheard of. If you are old enough, you will recall that specialists had the right to stop equity markets and halt trading until they rebalanced  order books. In effect, their order flow was coming in faster than they could handle. In fact, the CME did halt trading for 10 seconds last night, presumably to address this 'glitch' as people are calling it. This is not unlike the old days when specialists  used to stop markets to rebalance their order books. 10 second halt in Comex Silver Futures at 19:06:38 $SI_F — Eric Scott Hunsader (@nanexllc) July 6, 2017   And the result was a negation of prices below where presumably the"glitch" started.  update pic.twitter.com/KOMPVt96XW — Ryan Paisey (@RyanPaisey) July 6, 2017   This is conjecture, but not a wild one.  If a group of competing algos were  stop hunting during thinly traded markets as they commonly do, then it is conceivable  that their races to sell- trigger stops-cover (rinse  repeat) could have created a snowball  effect of  self reinforcing momentum. Imagine a Citadel, DeShaw and Six Sigma algo fest where one triggered the others own sell signals. The  resultant race to the bottom could be  enough to make any exchange order book struggle to update itself to absorb the nanosecond deluge of selling.  What we do know is that CME announced it was adjusting all trades below $15.54 to be raised to that price. This is an admission of either an electronic glitch likely exposed by a predatory algo or algos  intentionally stop fishing, a new algo that was tested and failed miserably, or a human who typed in the wrong price, ignored repeated terminal safeguards and sold down to $1434. In 2 of the above possibilities, the glitch would be  the result of prices being distorted  faster than CME's own servers could rebalance. And raising the flow of the selloff would seem  to indicate that is likely. This would  be the right thing to do especially if resting orders did not get filled between the low of $14.34 and the new adjusted  low of $15.54. We applaud  CME for doing this. But equally troubling is what that in turn implies. Specifically, that predatory algos are either indifferent to the collateral damage they do the very bourse that supports them, gives them a way to make a living, and likely rebates them for volumes. Or something worse we do not speculate on here. Assuming it is the former, then CME  must protect its franchise. For this type of increasing activity is undermining the integrity of its markets. And while the physical is good, paper is bad crowd would rejoice at this as further confirmation of the lack of claim futures has on the  pricing mechanism of metals, it would be tragic; for the integrity of all markets in precious metals  would then be in trouble as all transparency would be suspect.   We want CME to fix  it if it is somehow broken, punish those who are predatorily undermining markets and relying on their tech to make money with no regard to the market structure itself and possibly directly attacking the very order book infrastructure  CME protects. if you truly want free markets, then  you want this fixed. Otherwise you may be a luddite hoping for fat middle aged men on the LME with flags  and cigars determining prices for  your Gold. it is a capitalistic and a moral imperative for this to  be addressed and stopped. This is a war of escalating arms. And when there  is no one left to spoof on exchanges because people  are afraid to leave resting orders because those orders will get filled surreptitiously or traded through unfilled,  then  the exchanges  are at risk of being destroyed from the inside out.  ? Excellent live charts   HERE From a zerohedge commenter who is obviously experienced in the way of the Algo.  He may not be right in this case, but he is spot on in how the mechanism works. No one "dumped" 450mm notional. When a large stop was triggered the algos immediately went to work and ran the weak handed bids and overnight stops..... they sold it and bought it the whole way down, fighting each other the entire way. Citadel, two sigma, and deshaw etc... it's not a level playing field.... look at CL tonight! Two stop hunts triggered but not enough And there you have it. in a matter of seconds thousands of contracts traded electronically, much of the price action was removed, and  there may have been a glitch somewhere but with whom we do not know. Confidence restored.  In any event we cannot know what happened. This  is because we are not privy to facts. And that encourages  speculation. So, if one wants rumours to stop,  one must give unvarnished truth as to what happens. To not do so is to risk market integrity. It is also to invite nonsensical speculation that somehow the algo  and the bourse are  codependent to the point that revealing the unintended but real problem will also reveal the conflict that our political bettors have  enabled with their complete  ignorance of markets.  if our sentences are more run on than usual, please forgive us. it  was along night. - Soren K.

05 июля, 10:00

On this day: The epic World War II Battle of Kursk began

The Battle of Kursk (July 5 – Aug. 23, 1943) was an unsuccessful German assault on the Soviet position around the city of Kursk in western Russia during World War II. It was Germany’s last ground offensive on the Eastern Front and the largest ever tank battle that the world had ever seen. This battle was the German response to their loss at the Battle of Stalingrad, where the Nazi army had been defeated. The Germans code-named this offensive, Operation Citadel.  German General Friedrich von Mellenthin stated, “No offensive was ever prepared as carefully as this one." The result of the Battle of Kursk was a strategic Soviet victory, and the axis powers lost their ability to initiate strategic offensive operations, and the Soviet Red Army gained a decisive initiative over the Wehrmacht. The Battle of Kursk was the largest tank battle in history, involving on both sides some 6,000 tanks, 2,000,000 troops, and 4,000 aircraft. When the fighting ended the German forces had suffered 200,000 casualties and lost 500 tanks, while Soviet losses amounted to 860,000 casualties and 1,500 tanks.  Read more: The Battle of Kursk: Turning point of Great Patriotic War

01 июля, 01:30

Hedge Fund Traders Return To Banking As Trump Promises To 'Make Prop Trading Great Again'

The hedge fund industry is finding itself in increasingly dire straits as persistently weak returns and the advent of low-cost investing have forced more and more funds to shut down. So, it's unsurprising that, amid this steadily worsening backdrop, more traders are heading for the exits. But where are the heading? Increasingly, more traders are moving back from where they came - i.e. the big banks, which expect to see a boost in trading revenue as President Donald Trump has vowed to dial back postcrisis regulations that forced banks to wind down their prop desks. In recent months, a number of high-profile hedge fund names have made the leap back to banking, according to Bloomberg. “This month, Barclays Plc hired Chris Leonard, a founder of two hedge funds in the decade since he left JPMorgan Chase & Co., to turn around U.S. rates trading. At the end of last year, ex-bankers Roberto Hoornweg and Chris Rivelli, both of Brevan Howard Asset Management, left that London hedge fund for banks.   Recruiters say these moves and others aren’t just the usual attrition: banks in New York and London are interesting employers again a decade after the financial crisis, and may get involved in more proprietary trading if President Trump eases regulatory burdens. There’s also another factor: many macro funds just don’t make money anymore.   One recruiter says he expects defections to increase over the next nine months.   “In the last quarter of the year or first quarter of 2018, you will find more people leaving the hedge funds to join banks to run proprietary money,” said Jason Kennedy, chief executive officer of the Kennedy Group in London, which hires for banks and hedge funds. “The banks will become more attractive in terms of jobs and pay.” The Trump administration has struggled to pass elements of its agenda - most notable its plan to repeal and replace Obamacare. And it only recently scored a partial victory on its immigration ban. Yet financial deregulation is one area where the Trump agenda is moving inexorably forward. On June 13, Treasury Secretary Steven Mnuchin issued a report – the first in a series that will detail how the administration plans to proceed with paring back post-crisis regulations.  Some of the more notable proposals in the highly-anticipated report include: adjusting the annual stress tests, easing trading rules (i.e., gutting the Volcker Rule), and paring back the power of the watchdogs - like the Consumer Financial Protection Bureau. Unlike the administration’s health-care plans, these measures enjoy broad support among Republicans. Meanwhile, hedge funds are finding it increasingly difficult to compete for top talent. "...the bar within the hedge-fund world has increased dramatically over the last year,” Kennedy said.   Hedge funds, stung by years of underperformance and revolts from investors, are increasingly under pressure to dump their traditional 2 percent management and 20 percent performance-fee model, curtailing their ability to hire and retain talent. Louis Bacon’s Moore Capital Management, Tudor Investment Corp., Och-Ziff Capital Management Group LLC, Canyon Capital Advisors and Brevan Howard were among money managers who cut fees last year. More hedge funds shuttered last year than started, a trend that continued in the first quarter of 2017, according to data from Hedge Fund Research Inc.   “It is not surprising that traders are looking for a safe haven, and if banks have more room to operate these moves could make sense,” said John Purcell of Purcell & Co., a London-based executive recruitment firm." The unprecedented easy money policies adopted by the world's largest central banks in the aftermath of the crisis have hurt macro funds' profits by suppressing two-way volatility. “Tim Sharp made the move back to the sell side even earlier, and says banks now have attractive niche trading businesses and many are nearly done downsizing. He joined Credit Suisse Group AG in July 2015 after less than a year running money at BlueCrest Capital Management LLP, the firm led by Michael Platt. At the end of that year, Platt’s firm, once among Europe’s largest hedge funds, announced it would return about $7 billion of the $8 billion it managed.   “It’s very difficult for macro funds," Sharp said in an interview. “Central bank policies have crushed volatility and reduced opportunities, and also it’s survival of the fittest.”   Sharp, who is now a director at Credit Suisse, left BlueCrest a few months after the Swiss central bank’s shock decision to remove its currency cap, which caused losses at several firms.   "Macro as an overall strategy has recently experienced a prolonged phase of lackluster returns, triggering a number of unwinds at big shops," said Nicolas Roth, co-head of alternative assets at Geneva-based Reyl & Cie.” As Bloomberg explains, the flow of traders back into banking is a reversal of a trend that began in 2008, when banks, reelingfrom the crisis, saw an exodus of traders move to the buy side as many hoped to cash in on the postcrisis recovery. The advent of the Volcker rule forced banks to wind down their prop trading desks, spurring even more defections. Another factor: the rising cost of regulatory compliance is making it increasingly expensive to start a hedge fund. "Hedge funds were booming. In 2009, hedge funds gained almost 20 percent, their best yearly performance since 1999, according to the HFRI Fund Weighted Composite Index; a year later, they returned 10.3 percent.   While macro strategies raised $13.8 billion in the first five months of this year, the most of any trading strategy tracked by eVestment, investors are disappointed by their returns. Traders wagering on currencies and rates continue to struggle, even as peers are showing signs of recovering from their multi-year funk.   Andrew Law’s Caxton Associates lost 8 percent this year through May and told clients that it’s slashing performance and management fees. Paul Brewer’s hedge fund Rubicon Global Fund plunged about 27 percent this year, hurt by wrong-way currency wagers, people said earlier this month.   It’s also more expensive to start a hedge fund than it was, because of the difficult capital raising environment and rising cost of regulatory compliance.   “Some macro traders are returning to the sell side, maybe in a hope that a Dodd-Frank rollback will re-open proprietary trading activity,” Roth said." Here’s a breakdown of other personnel moves, courtesy of Bloomberg. Anthony Kemp returned to Morgan Stanley at the beginning of May from Stone Milliner Asset Management, which he joined in summer 2015 Alex Silverman left Citadel to join Morgan Stanley in New York at the end of March 2017 Dipak Shah joined Citigroup Inc. as director in October 2016 from Capula Investment Services after previously working at Goldman Sachs Group Inc. 

25 июня, 18:52

Weekend Reading: Origin of "'Cry 'Havoc', and Let Slip the Dogs of War!"?

**Plutarch**: _[Life of Aratus of Sicyon][]_: >The city of Sicyon, as soon as it had fallen away from its pure Doric form of aristocracy (which was now like a harmony dissolved) and had become a prey to factions and the ambitious schemes of demagogues, was without cease distempered and agitated, and kept changing one tyrant for another.... Abantidas the son of Paseas, attempting to make himself tyrant, slew Cleinias, and, of the friends and kinsmen of Cleinias, banished some and killed others. He tried to kill also the son of Cleinias, Aratus, left fatherless at the age of seven. But in the confusion p7which prevailed about the house the boy made his escape with the fugitives, and wandering about in the city, full of fear and helpless, by chance got unnoticed into the house of a woman who was a sister of Abantidas, but had married Prophantus the brother of Cleinias. Her name was Soso. This woman, who was of a noble nature, and thought it a divine dispensation that the boy had taken refuge with her, hid him in the house, and at night sent him secretly off to Argos. [Life of Aratus of Sicyon]: http://penelope.uchicago.edu/Thayer/E/Roman/Texts/Plutarch/Lives/Aratus*.html >Thus was Aratus...

21 июня, 22:12

Regulators Are Probing RenTec's "Secret Trading Code"

With the world's most mysterious, and profitable, quant fund - Renaissance Technologies - recently finding itself in an unfamiliar place: under the harsh public spotlight, and worse - in the context of its co-CEO Robert Mercer's questionable political support of Donald Trump - we wondered one month ago how long before regulators start sniffing around to uncover the "secret sauce" that has generated some $60 billion in profits for LPs of the giant money-making machine. The answer: a few weeks. According to the NY Post, regulators from the Commodity Futures Trading Commission are probing the "secret trading code" at RenTec run by Democrat, and Hillary Clinton supporter, James Simons and Republican and Trump's most influential financial backer, Robert Mercer. The CFTC has reportedly asked to dig into the trading software at the $65 billion hedge fund, "James Rowan, the fund’s chief operating officer, told an audience of hedge fund managers on Tuesday in New York, according to two people who were in the audience." But, like every other secretive quant fund, RenTec is pushing back against the CFTC’s request out of fear that the code will “leak,” Rowan told the managers, according to those present. Jonathan Hitchon, chief operating officer of quantitative hedge fund Two Sigma, which manages an estimated $40 billion, was also on the panel echoing Rowan’s concerns. Hitchon is on the board of the Managed Funds Association, which called out the CFTC for “overreaching in its authority” in a letter sent last month. The push by the CFTC to expose the trading code of the world's most popular quant fund comes as a time when investors are increasingly on edge about the threat of passive investing in a one-way market, with lingering questions about what might happen if all the quants start selling at the same time. The pushback by Simons’ firm is the latest sign that the government is plowing into so-called “quant funds,” which use highly technical trading algorithms to try to beat the market. It is a growing area in the hedge fund space as more hedge funds, including Steve Cohen’s Point72, are increasingly hiring more developers to build algorithms.   These algorithms are often black boxes, and are so complicated that it would be nearly impossible to figure out what they’re designed to do, or why they do it. As long-time readers will recall, back in 2009 Zero Hedge led a brief campaign seeking to unveil the mystery inside either Medallion or RIEF B, which however failed to penetrate RenTec's unbreakable armor. Now it is the CFTC's turn: "regulators are concerned there could be an illegal trading practice, like creating fake orders to move the prices of illiquid stocks, which is known as spoofing." To be sure, it's not just RenTec that is on edge. The post notes that last year the CFTC "first outlined the regulations that would allow it to scrutinize hedge funds’ algorithms. Other major funds, like Citadel and Two Sigma, slammed the proposal, saying that sharing the code made it more likely it could fall into the wrong hands." Even the CFTC admitted last year that there are problems with its plan to require quant funds to share code. “This requirement has garnered an enormous amount of attention from market participants concerned with the prospect of handing over highly valuable, proprietary business source code to an agency of the US government that has an imperfect record as a guardian of confidential information,” CFTC Commissioner Christopher Giancarlo said in September. Meanwhile, despite its pushback, Renaissance is complying with the CFTC’s request for the code, "and is exploring ways it can share the code in a secure setting but not have it left sitting on a CFTC file where it could be vulnerable to hacking and being leaked, Rowan said." The problem, as RenTec and traders know, is that once the "black box" ends up in the hands of regulators, it is as good as public. Which is why in 2009, Goldman went ballistic when Sergey Aleynikov allegedly stole the bank's quant trading code, and was promptly arrested and spent time in prison, even though he has twice acquitted of the charge, though he’s still facing charges on an appeal. That code was Goldman’s “secret sauce,” New York District Attorney Cyrus Vance Jr. charged in 2012. Whether or not RenTec's most valuable asset leaks in the public, here, for those interests, is the public breakdown of RenTec's top equity positions as of March 31.

16 июня, 10:17

Обзор смартфона Fly Cirrus 13: без предрассудков

Этот бюджетный смартфон первым под брендом Fly получил ОС Android 7.0, поверх которой установлен еще и лончер от "Яндекса". На фоне ожидаемых с учетом цены характеристик выделяются экран с Full HD-разрешением и дактилоскопический сканер. Читайте в обзоре смартфона Fly Cirrus 13 об этих и других его плюсах и минусах.

15 июня 2015, 11:57

Scofield: Бильдербергский клуб определил зоны интересов ВПК

В четверг открылась очередная ежегодная встреча членов Бильдербергского клуба. Среди 133 гостей, собравшихся на этой неделе в австрийском городке Тельфс-Бюхен, 21 политик. В их числе – министр финансов Великобритании Джордж Осборн...

16 апреля 2015, 17:05

Бернанке будет работать с торговыми роботами

Бывший глава Федеральной резервной системы США (ФРС) Бен Бернанке согласился стать старшим советником хедж-фонда Citadel Investment Group. Об этом сегодня сообщили крупнейшие СМИ.