This is quite a change from when they ruined a man’s life for using Github.
[deleted]
Goldman Sachs will open-source some of its trading software
11–20 of 104 posts
Re: Goldman Sachs will open-source some of its trading software
#12Re: Goldman Sachs will open-source some of its trading software
#13Maybe pull request trolling could be a thing? Pull requests that print “why hasn’t anyone involved in the GFC gone to jail?”
Re: Goldman Sachs will open-source some of its trading software
#14Re: Goldman Sachs will open-source some of its trading software
#15Of course, if this technology was able to price securities better than the market (the fundamental job of almost every market participant), it would be printing money and they would not release it.
This is not the secret sauce, but probably an implementation of a set of standard well known pricing and risk models. That's still useful, and can be expensive to develop, so thanks Goldman.
Re: Goldman Sachs will open-source some of its trading software
#16This is quite a change from when they ruined a man’s life for using Github.
"We deliberately release some code as open source" is very different from "everything we write is open source and a random engineer is free to independently do whatever they want with it".
Re: Goldman Sachs will open-source some of its trading software
#17[deleted]
Re: Goldman Sachs will open-source some of its trading software
#18This is quite a change from when they ruined a man’s life for using Github.
Context: https://blog.garrytan.com/goldman-sachs-sent-a-brilliant-com... And this is why people are saying to exercise caution around this stuff!
This makes me have second thoughts about getting the Apple Card, not sure I want to support this company after that.
Re: Goldman Sachs will open-source some of its trading software
#19Of course, if this technology was able to price securities better than the market (the fundamental job of almost every market participant), it would be printing money and they would not release it. This is not the secret sauce, but probably an implementation of a set of standard well known pricing and risk models. That's still useful, and can be expensive to develop, so thanks Goldman.
Investment banks don't even have the secret sauce, hedge funds like Renaissance Technologies and D. E. Shaw & Co. are the ones that have it
Re: Goldman Sachs will open-source some of its trading software
#20How much do we wanna bet this is just a recruiting gimmick?
Oh, you mean like them offering a VP position (without telling you maybe half of the people there are VPs)?
this is just how titles in finance work: analyst The lowest level managing directors typically have several additional managing directors between them and the C level executives. In other words, you can be in charge of a 15 person unit and be called a managing director or you can be in charge of an entire division of 500 people and make as much as some fortune 500 CEOs and be called a managing director. Generally, your clients are fairly sophisticated and know exactly where you are in the totem pole.
In addition to just being a rung on the ladder, the VP title often also means that you are a corporate officer, who can enter into agreements on behalf of the company.