Viewing profile — mrchicity

I've thought a lot about this too (I used to work in HFT). Here's what I think: - The only part I didn't like in your article was how you described creating indicators as exploitat…

You ask a great question: If a business isn't able to employ American workers at competitive pay, what purpose does it serve for the country? Why should it be here or exist? I have…

And doing that may put downward pressure on wages for ordinary Canadians. Their citizens vote, too. I don't think offshoring to India is a real worry. They lack the rule of law and…

That's great that you don't do that. Sorry if this is blunt: Paying low 100s + de minimis equity for distributed systems and DSP engineers in a super high COL city like LA is going…

If they could hire someone locally at their desired level of pay, they wouldn't. But while a legitimate talent shortage (at any price) may exist for super elite, specialist roles, …

RenTech doesn't publish much so I'm merely conjecturing based on their volumes and other information that's in legal filings. There are a lot of ways to provide liquidity and fair …

Commercial work will always pay better than academia. Roles like trader/quant where your value is measurable & portable will always pay better than being a drone in a big machine l…

It's the law of large numbers. Virtu's infamous net trading profit histogram showed the firm had one losing day in over 3 years: https://www.zerohedge.com/news/2014-03-10/holy-grai…

Return on capital isn't a super meaningful metric for capacity constrained trades. If a fund earns 80% returns, but has no means to compound the resulting profits through the same …

Money quote on page 345: "In the second study, Mosing, Madison, Pedersen, Kuja-Halkola, and Ullén (2014) had over 10,000 twins representing an extremely wide range of music skill …

Most people know this on a visceral level. If you only live for yourself, you'll never be satisfied: There's always someone with more. I definitely had some kind of seeking feeling…

I won't comment on better/worse since I have no idea what op meant and it also makes no sense to compare. Having children is a fundamental human right. It's a shame that people who…

Yes, it's a very complicated situation though. I see a few causes among my peers: -College alone, except for a select few schools and/or majors, is no longer a strong signal for ge…

This. Not having children sooner is one of my deepest regrets. My wife and I had our first when we were 30, and luckily, another through IVF, which is far more complicated, painful…

Insurance is an apt analogy. Intuitively, if someone consistently makes money, they're just skimming without providing any value. People were astonished that Virtu made money almos…

That's fair, but the reason isn't entirely due to bias. Few people outside the industry really understand market microstructure. It's a dry and complex subject. Legitimate criticis…

Some rich heir being a shoe in at Harvard where he skips half his classes and takes a spot from someone with academic interests bothers me too. It's not fair. But I'm a bit less sk…

Is that surprising though? There's a strong correlation between pay and intellectual ability/education. There aren't many dull, uneducated engineers, doctors, lawyers, or executive…

Sure but you're fighting a strawman here. Nobody believes standardized tests are perfect or 100% accurate at determining ex post performance. We all know people who score well but …

Yes, instead we have holistic approaches which schools refuse to document for proprietary competitive reasons, and that holistic process has the same outcome as a racial quota. Ver…

Why are they unfair? I've heard the old saw about the 1980s SATs asking some analogy with a regatta:yacht, but what bias has been uncovered lately? And why is this bias mostly help…

I agree totally. Tests can be slightly flawed, and rich kids can prep their way to another 50 points, but nothing else in life comes close in terms of fairness. Maybe sports and th…

Good schools are mostly good because of their student bodies. At a basic level you need teachers who care, books and decent accommodations. If those basics aren't being met, then s…