Hedge Fund

Why It’s Smart to Be Reckless on Wall Street

"Why It’s Smart to Be Reckless on Wall Street"

Article Summary:
Original Article by Chris Arnade of Scientific American

A guaranteed way to get paid if you work on Wall Street is to find a best friend at a competing bank or hedge fund and take opposite sides of the same large bet. In a year, one of you will have a huge profit, while the other will have lost both both a profit and a job. The sum of both your profits will be zero, but the sum of what you get paid will be positive. Split the pay, Arnade explains.

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