I remember reading about dark pools and asking a friend in finance if the sector really is as corrupt as it sounds, his reply? "Oh much more"
I worked for an investment bank and on the inside no one even pretends, it's just a part of the job.
Wall Street’s ‘Private Rooms’
41–50 of 213 posts
Re: Wall Street’s ‘Private Rooms’
#42Earlier quoted context omitted.
It's manipulation by definition. These hidden trades exist to prevent other people from being able to act in their own best interest based on available information. This isn't about what's going on in your neighbor's house. Your neighbor's house is private, markets are public. This is about being at a public auction in the middle of bidding on something when someone else walks up to the crier, whispers a few words in…
>It's manipulation by definition. These hidden trades exist to prevent other people from being able to act in their own best interest based on available information. So if I have a RTX 4090 to sell (a very sought after commodity these days), and I sell it to my buddy rather than listing it on ebay, I'm doing market "manipulation"?
your graphic card isn't a stock market.
Re: Wall Street’s ‘Private Rooms’
#43I remember reading about dark pools and asking a friend in finance if the sector really is as corrupt as it sounds, his reply? "Oh much more"
The only reaction more adverse than the one you get asking coders about remote voting is the one you get asking finance people about transparency and anticorruption. It's an open secret at this point that any effort that would weed out a significant proportion of the fraud would cripple our finance sector overall just because everyone who runs it would be in prison.
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Re: Wall Street’s ‘Private Rooms’
#44I remember reading about dark pools and asking a friend in finance if the sector really is as corrupt as it sounds, his reply? "Oh much more"
Funny, I got the same answer from my neighbor when I asked him how much the NSA satellites can see.
Re: Wall Street’s ‘Private Rooms’
#45Ban high frequency trading, ban instant transactions (put them on hold for some time before buying/selling (hours minmum, longer for larger quantities), make the held transactions public, and tax the profits on a time-owned scale. This would turn "investments" into investments again... you really believe that company XY will do something good? Buy stocks and keep them for few years until they grow. Politican John Bob…
Banning something doesn’t make it go away. Millions of people will be doing it, irregardless if it’s banned or not. The best thing you can do is let it happen, monitor it and call out bad actors.
Wild if true.
Re: Wall Street’s ‘Private Rooms’
#46It is not clear to me what nefarious things people believe are going on there that we should be worried about. All the article says is that people are doing things we don't know about, but implies that somehow we should feel not-okay about this. I don't know what's going on in my neighbor's house either, and it could certainly be bad stuff, but that's doesn't mean that it is bad or that I should start spying on them.
It's manipulation by definition. These hidden trades exist to prevent other people from being able to act in their own best interest based on available information. This isn't about what's going on in your neighbor's house. Your neighbor's house is private, markets are public. This is about being at a public auction in the middle of bidding on something when someone else walks up to the crier, whispers a few words in…
Your analogy is bad because this doesn't happen at a public place. People can't privately sell goods between each other. If someone someone sells their gold to a gold buying shop, that was not a public auction, yet people are still able to price gold.
Re: Wall Street’s ‘Private Rooms’
#47Earlier quoted context omitted.
>It's manipulation by definition. These hidden trades exist to prevent other people from being able to act in their own best interest based on available information. So if I have a RTX 4090 to sell (a very sought after commodity these days), and I sell it to my buddy rather than listing it on ebay, I'm doing market "manipulation"?
your graphic card isn't a stock market.
A market is a market, is it not?
Re: Wall Street’s ‘Private Rooms’
#48Earlier quoted context omitted.
>It's manipulation by definition. These hidden trades exist to prevent other people from being able to act in their own best interest based on available information. So if I have a RTX 4090 to sell (a very sought after commodity these days), and I sell it to my buddy rather than listing it on ebay, I'm doing market "manipulation"?
your graphic card isn't a stock market.
The graphics card would repesent a stock. Both are a good.
Re: Wall Street’s ‘Private Rooms’
#49Ban high frequency trading, ban instant transactions (put them on hold for some time before buying/selling (hours minmum, longer for larger quantities), make the held transactions public, and tax the profits on a time-owned scale. This would turn "investments" into investments again... you really believe that company XY will do something good? Buy stocks and keep them for few years until they grow. Politican John Bob…
This. What's the difference between hft and gambling? Yet we put tight rules on gambling.
Re: Wall Street’s ‘Private Rooms’
#50Earlier quoted context omitted.
>It's manipulation by definition. These hidden trades exist to prevent other people from being able to act in their own best interest based on available information. So if I have a RTX 4090 to sell (a very sought after commodity these days), and I sell it to my buddy rather than listing it on ebay, I'm doing market "manipulation"?
Depends on the volume
Fine, is OpenAI doing "manipulation" when they buy 10k H100s from nvidia directly, rather than on the open market?