Statistical evidence is immune to concealment. No matter how clever a cheater is in communicating with collaborators, no matter how small the wireless communications device, the actual moves produced by a cheater cannot be hidden.
The Formula That Killed Wall Street
His method was adopted by everybody from bond investors and Wall Street banks to ratings agencies and regulators. And it became so deeply entrenched—and was making people so much money—that warnings about its limitations were largely ignored.