THE REUTERS DIARIES

D.s—Fisher Black, Myron Scholes and Robert Merton— who went on to win the Nobel Prize in economics in 1997. Utilizing the Black/Scholes design in opposition to “gut traders” of the working day was like capturing fish in a very barrel. Inevitably the competition wised up, so Yass then leaned on his nicely-honed poker expertise—ways to stud