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A finance professor and a student are walking together discussing the merits of the Efficient Market Hypothesis (EMH) when they come across a $100 bill lying on the ground.

As the student stops to pick it up, the finance professor says, “Don’t bother – if it were really a $100 bill, it wouldn’t be there.”

Modern finance education is almost entirely focused on explaining the markets using the EMH framework. You’ll learn about the various forms of efficiency, about the CAPM and beta, and why you should only invest in passive, low-cost index strategies.

In other words, they will send the message that you’d better start taking accounting courses as a career Plan B, just in case you didn’t get the memo that being a buy side analyst is pointless. After all, stock prices reflect all known information already.

Am I worried I will be replaced by an index fund?

Nope. And neither should you.

Let me explain ….

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Trading can be a very profitable and lucrative business. It can also bring billions in losses when it’s not properly monitored.

If you are looking to become a big shot trader one day, then it’s important that you understand one very important type of trader:

The Rogue Trader.

The Rogue Trader is the epitome of everything that can go wrong with trading, extending from huge losses to even jail time. We begin our cautionary tale by examining three of the most infamous rogue traders of all-time: Nick Leeson, Jerome Kerviel, and Kweku Adoboli.

Afterward, we take away three key lessons that you can use to make sure your trading career doesn’t end up with your name next to Nick Leeson’s.

Going rogue starts now …

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