Viewing profile — galen211

In an analogous situation. I try to think of my current work as a stepping stone to other opportunities, but admittedly it's tough. I'm also genuinely interested in data science, b…

This is great - I refuse to mess with VBA and I've been doing all my spreadsheet regex work using R/RStudio until now. The regex feature alone could save me tons of hours in my con…

Second that - would also be interesting for English speakers learning a language like Chinese, where the average literate speaker can recognize about 5000 of the most frequently us…

fwiw, Coinbase wouldn't be the first financial institution to challenge a John Doe Summons. The IRS issued one to UBS in 2008 ( https://www.justice.gov/archive/tax/txdv08584.htm ).…

I gave the tool a try on a document I'm drafting for review by our lawyer. It's pretty interesting and I can definitely see it saving some time. I'm curious though, aren't there an…

Sure - if you own a bond maturing in 10yrs and paying a coupon of 2% yearly, what you have is a series of cash flows of 2 2 2 2 2 ... 102. In other words, a treasury bond can be de…

There's been a lot of concentration in assets under management among a few top buy-side institutions while dealers have reduced their risk tolerance/balance sheet and been displace…

Thanks - we chose Treasuries because it's a highly liquid market, and the bonds are easy to value. Even large trades can't move prices by that much since the cash flows of Treasuri…

Diversification. Also, even if investors don't buy bonds, prices in the bond market still affect them. Treasuries represent the price of 'cash in the future' since they are risk-fr…

HFT firms can only access on-the-run trading currently. That doesn't mean the bank is responsible for all the liquidity in off-the-runs. It's just highly inefficient that intermedi…

Brokertec and eSpeed are inter-dealer platforms. If you're an asset manager, pension fund, or even a central bank, you can't trade without going through a bank. The point is to cre…

The problem is that the market has been skewed by banks, which set-up the existing electronic platforms in the 1990's. The electronic trading protocols were designed to be exactly …

hmm so at the nexus of the money system, there is a marketplace run by banks with very little oversight from regulators. Sounds reasonable.

define fake liquidity

So bottom line, the people paid millions of dollars per year by banks to understand the market have to ask IT for an explanation of the market? Hmmm...