IMackGroup

Math + Quant Finance

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Biography: IMackGroup provides mathematics edutainment and quantitative finance products and services.

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R.I.P. Jazz-Funk Legend Joe Sample

by Iris Mack, PhD, EMBA on September 13, 2014 0 Comments

Mr. Joe Sample and the Jazz Crusaders gave some of the best live performances ever!  If they had a concert within a few hundred miles radius of where I lived, I found a way to get there - no matter what.

Thank you Mr. Sample.  Your amazingly beautiful music lives on - forever.  R.I.P. sir!

Return of the Mack

by Iris Mack, PhD, EMBA on September 9, 2014 0 Comments

Straight Talk from Actor Kevin Spacey

by Iris Mack, PhD, EMBA on September 9, 2014 0 Comments

 

The "Stock Act" Allows Top Federal Employees To Trade on Inside Information

by Iris Mack, PhD, EMBA on September 9, 2014 0 Comments

 

 

by Mark Gongloff

Huffington Post

04/17/2013

Who says nothing ever gets done in Washington? Swiftly and without fanfare, Congress and President Obama have made it easier for top federal employees to trade on inside information.

On Monday, Obama signed into a law a change in the Stop Trading On Congressional Knowledge, or STOCK Act, which was passed in 2012. The change, which was approved unanimously by Congress last week, means that top federal employees, including staffers on Capital Hill and in the White House, will not have to publicly disclose their financial holdings online. That requirement was part of the original STOCK Act, but its implementation had been delayed again and again by Congress. And now it's dead.

The STOCK Act change does not apply to the president, vice president, members of Congress or candidates for Congress. Obama and Congress loudly passed the original STOCK Act last ...

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Pharrell's "Happy": Viola Cover by Jeremy Green

by Iris Mack, PhD, EMBA on September 4, 2014 0 Comments

Ex-SAC Trader Sentenced to 9 Years in Prison for Insider Trading Scheme

by Iris Mack, PhD, EMBA on September 4, 2014 0 Comments

 

by Matthew Goldstein

Dealbook

Mathew Martoma was sentenced to nine years in prison on Monday for carrying out one of the biggest insider trading schemes on record in 2008 when he was working as a portfolio manager at Steven A. Cohen’s former hedge fund, SAC Capital Advisors.

The sentence was in line with what the government was seeking. Prosecutors working for Preet Bharara, the United States attorney for the Southern District of New York, had asked for a prison term of eight years or more for Mr. Martoma, who was convicted in February by a federal jury in Manhattan. Mr. Martoma’s lawyers had simply asked Judge Paul G. Gardephe to show mercy and sentence him to a significantly shorter term.

In handing down the sentence, Judge Gardephe said, “The sums here are staggering and the size of the punishment must be sufficient to deter others.”

Mr. Martoma was ...

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CNN: "How to Rob a Bank from Home"

by Iris Mack, PhD, EMBA on September 4, 2014 0 Comments

 

 

I was doing some research on natural gas for my energy trading classes when I stumbled across this video.  This is a CNN Special Investigation Units Report explaining how identity theft, check fraud, and scams work so you can better protect yourself against them in the future.

Mr. Bobby Caldwell

by Iris Mack, PhD, EMBA on August 31, 2014 0 Comments

A friend of mine just told me that I used to walk around U.C. Berkeley's math department singing this Bobby Caldwell song. I guess I was in my own little math geeky world - oblivious to the fact that I was disturbing the peace. LOL!

Bobby Caldwell has what is known as blue-eyed soul. Enjoy!

Price of "Black Gold" (Oil) Set to Soar‏?

by Iris Mack, PhD, EMBA on August 31, 2014 0 Comments

by Chad Shoop

...the U.S. Energy Information Administration (EIA) believes the risk of oil is to the upside. They have a low-range price of oil at $75 by 2040. Its high range … is $237 per barrel. Considering the price of oil was $110 when they made these determinations, this range represents a 30% swing to the downside or a 110% curve to the upside...

Please read more here.

European Oil & Gas Company Looking for Finance Director

by Iris Mack, PhD, EMBA on August 31, 2014 0 Comments

 

A global business that provides services to the Oil and Gas sector is assisting with the recruitment of a Finance Director who would be responsible for the management of the finance function, for a key business segment within the organization. 

Education & Experience 

• Degree in finance / accounting with an MBA (desirable) 
• Extensive experience in managing a finance function with exposure to project cost control in an international environment. 
• Oil and Gas sector experience. 
• Experience in an accounting consultancy firm is desirable. 

Please read more here.

Forbes: U.S. Hikes Fee To Dump Your Passport By 422%

by Iris Mack, PhD, EMBA on August 25, 2014 0 Comments

 

by Robert W. Wood

Forbes

Over the last two years, the U.S. has had a spike in expatriations. It isn’t exactly Ellis Island in reverse, but it’s more than a dribble. With global tax reporting and FATCA, the list of the individuals who renounced is up. For 2013, there was a 221% increase, with record numbers of Americans renouncing. The Treasury Department is required to publish a quarterly list, but these numbers are under-stated, some say considerably.

The presence or absence of tax motivation is no longer relevant, but that could change. AfterFacebook co-founder Eduardo Saverin departed for Singapore, Senators Chuck Schumer and Bob Casey introduced a bill to double the exit tax to 30% for anyone leaving the U.S. for tax reasons. That hasn’t happened, but taxes are still a big issue for many.

To leave America, you generally must prove 5 years ...

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IMF Chief Christine Lagarde Charged With "Negligence" Over Multi-million Dollar Graft Case

by Iris Mack, PhD, EMBA on August 25, 2014 0 Comments

Paris (AFP) - IMF chief Christine Lagarde, one of the world's most powerful women, announced Wednesday she had been charged with "negligence" over a multi-million-euro graft case relating to her time as French finance minister.

 

The shock announcement came a day after she was grilled for more than 15 hours by a special court in Paris that probes ministerial misconduct, the fourth time she has been questioned in a case that has long weighed upon her position as managing director of the International Monetary Fund.

Please read more here.

Fuel Fix: Uncle Sam Collects $110 Million From Offshore Oil Auction

by Iris Mack, PhD, EMBA on August 25, 2014 0 Comments

by  Jennifer A. Dlouhy in OffshorePolitics/Policy

WASHINGTON — Oil and gas companies are set to pay the government $110 million in high bids for leases in the western Gulf of Mexico, after an auction Wednesday that underscored the industry’s interest in deep-water territory.

Fourteen companies participated in the sale, which nominally put 21 million acres up for grabs, though ultimately, just 81 blocks spanning 433,823 acres were sold.

The industry’s interest was concentrated on the Alaminos Canyon area and territory near the U.S.-Mexico maritime border that had been off limits for development while the two countries enacted a treaty to govern oil development. 

Please read more here.

McKinsey Report: Digitizing Oil & Gas Production

by Iris Mack, PhD, EMBA on August 20, 2014 0 Comments

 

The authors of a recently published McKinsey report believe further automation can play a major role in addressing the following challenges in the oil and gas industries:

More complex operations. Increasing volume and complexity in hostile, remote locations (for example, arctic, offshore, and deepwater) require reliable remote and automated or semiautomated operations, and logistics optimized for efficiency. Mature assets with declining production need very efficient maintenance schedules to keep production profitable.

Zero tolerance for health, safety, and environmental incidents. This is a nonnegotiable imperative. Recent industry experience has shown that in the current highly regulated environment, such incidents can threaten not only profitability but also the very existence of an operator. Automated production control, monitoring the condition of the equipment, and predictive shutdown systems are now basic requirements to prevent or mitigate catastrophic events in geographically dispersed remote operations.

The talent and experience gap. The industry is in the most ...

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Stanford Professor Maryam Mirzakhani: First Woman to Win the "Nobel Prize" of Mathematics

by Iris Mack, PhD, EMBA on August 20, 2014 0 Comments

 

For the first time in history, a woman has received the highest honor in mathematics, often nicknamed the Nobel Prize of mathematics.

Since it was established in 1936, the Fields Medal had gone only to men, until Wednesday, when Maryam Mirzakhani received it in Seoul, South Korea, from the International Mathematical Union.

"This is a great honor. I will be happy if it encourages young female scientists and mathematicians," Mirzakhani said, according to a statement from Stanford University, where she is a professor.

Please read more here.

Senior Energy Analyst Job

by Iris Mack, PhD, EMBA on August 20, 2014 0 Comments

Eden Scott's client, a financial services company focused on the global energy industry, is looking to recruit a Senior Analyst. Their client is an industry leader in their field and offer a challenging, dynamic and stimulating working environment.

As a Senior Analyst you will be a key player in the firm responsible for acquisition and merger activity.

Please read more here.

Michael Jackson: "They Don't Care About Us"

by Iris Mack, PhD, EMBA on August 20, 2014 0 Comments

Former MIT Dean Gabriel Bitran Pleads Guilty to Running a $500 Million Scam - Connected to Madoff's Ponzi Scheme

by Iris Mack, PhD, EMBA on August 16, 2014 0 Comments

 

Former Associate Dean at MIT's Sloan School of Management Pleads Guilty in Hedge Fund Scam

A former Massachusetts Institute of Technology professor and his son have agreed to plead guilty (DOJ) to running a $500 million hedge-fund scam that was uncovered by investigators probing Bernard Madoff’s Ponzi scheme.

Gabriel Bitran, who was a chair professor and associate dean at MIT’s Sloan School of Management (VisualCV), and his son, Marco, told investors that their money management firm GMB Capital Management LLC had a successful real world track record, when in fact they simply assembled back data that would show a spectacular track record.

The men, who raised more than $500 million from 2005 to 2011, meanwhile put money into “funds of funds,” (Blm) which rely on investments by other hedge funds, mostly Bernie Madoff’s firm and Madoff feeder funds, according to prosecutors.

The Bitrans’ funds suffered losses ...

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PhatMath: Free Math Homework Help

by Iris Mack, PhD, EMBA on August 11, 2014 0 Comments

 

 
FREE Online Math Homework Help (K-College)

The Wall Street Journal recently reported that companies struggle to find workers in the U.S. who can do basic math.  America's math illiteracy problem is confirmed by various international math test scores.  Sadly, American students rank below average on these international math tests. 
 

Phat Math shows students how math can be fun and easy to learn! This amazing social network provides free math homework help and more to thousands of students in US and abroad.  We need your help to make that millions of students!

Help make math free, fun, and easy for students in the US and around the world!

Please learn more about the Indiegogo Crowdfunding campaign to raise funds for www.PhatMath.com!

Thanks!