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The casting couch... Outer borough pit traders with a feeling about how to price some options... A baseball player’s rugged jawline: Every industry had their pre-Moneyball ways of making choices based on favors, hunches, and biases. People did things that way because they didn’t know any better, it was easy, lucrative, otherwise attractive to insiders, and because less competition invariably results in lethargic incumbents. And then one by one arbitrariness was replaced by analytical rigor. The initial public offering / IPO process is pre-Moneyball with all of the medieval vernacular