Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.

It is the nature of being the general manager of a baseball team that you have to remain on familiar terms with people you are continually trying to screw.

When the last history of high-frequency trading is written, Hunsader, like Joe Saluzzi and Sal Arnuk of Themis Trading, deserves a prominent place in it.

There was but one question he left unasked, and it vibrated between his lines: if gross miscalculations of a person's value could occur on a baseball field, before a live audience of thirty thousand, and a television audience of millions more, what did that say about the measurement of performance in other lines of work? If professional baseball players could be over- or under valued, who couldn't?

The Red Sox are a curious thing because so much here is media driven. You can't go fire half your scouts here because they are all friends with the local reporters. Your life is going to hell in the papers.

The institutions at the centre of capitalism are bigger than they've ever been, the pay is much greater, the ability of society to get its arms around it is much less. The political clout of the financial class is unbelievable. I'd say the story is darker than when I was there. When I was there it felt like a comedy - and now it feels more like a tragedy.

Managers tend to pick a strategy that is the least likely to fail, rather then to pick a strategy that is most efficient," Said Palmer. " The pain of looking bad is worse than the gain of making the best move.