Hedge funds are trying and failing to hire prediction market sharps. "We are just getting crushed by these sharps," said Susquehanna's Jeff Yass. @iscoe tells the story of a guy who's made 7 figures trading Rotten Tomatoes betting markets, and rejected an offer from SIG: "He said, 'Not only am I just making a killing, but I can do things that a big institutional fund can't do.'" "He's a Rotten Tomatoes trader. He trades how a film's going to do on Rotten Tomatoes. He's made 7 figures, easily. He's building models, scraping websites, and he's doing things that SIG, through their corporate policies, maybe wouldn't allow." "And he asked in the interview, 'Could I do this technique?' And they said, 'Yeah, probably not.'" "And this guy, he self-describes as a 'dips**t from the Midwest.' He's like, 'I didn't go to an Ivy League school, and I'm able to outcompete Wall Street with a $600 Lenovo laptop.'" From his appearance on the show last month.
