Matt Meinel, 29West

The best advice that anyone has ever said to me came from the head of a very large electronic trading hedge fund. He had come to trading after a celebrated academic career and explained this to me: the most critical thing to his great success in the financial markets was his company's discipline of analysing his execution costs at a very detailed level for every trade. He would analyse every trade for profit slippage by looking at a number of factors. He looked at many diverse areas, such as the