http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91323241#comment-91434456
During the exam, Cobb Douglas was asked by a proctor to meet for a private exchange in the bathroom. She proceeded to show him her box spread and Cobb’s semi-strong form went to an upward slopping forward curve. After going long-short on his enhanced index for a short duration the momentum effect caused Cobb’s control bias to expire deep in the money. Needless to say Cobb was embarresed by his human capital volatility but even worse, the proctor showed regret aversion as she could have been fully integrated with the L2 candidates, Singer and Terhaar.
That thread is outstanding. Who knew naughty and nerdy could be such a good combo?
(http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91323241#comment-91434456)
haha, right?!
The sad (?!?) part is that we actually enjoy the thread and have an inkling of the issues raised 