HFT in My Backyard (2014)
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HFT in My Backyard (2014)
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Re: HFT in My Backyard (2014)
#2Previous discussion here: https://news.ycombinator.com/item?id=8354278
Re: HFT in My Backyard (2014)
#3This blog actually got me into HFT. It's a fascinating industry with a lot of fun bleeding edge tech challenges.
Re: HFT in My Backyard (2014)
#4Are the lines on the map literal? I would think propagation goes around vs. linear but maybe they're using helical antennas so it is high gain?
I'm probably confused I'm vaguely aware of the concept with dedicated lines/least latency/etc... I saw a picture of a tower/thinking it's about transmission...
Re: HFT in My Backyard (2014)
#5This blog actually got me into HFT. It's a fascinating industry with a lot of fun bleeding edge tech challenges.
I could be totally wrong, and perhaps I should read that blog, but working in HFT doesn't sound very rewarding except perhaps in a pure financial sense. It seems to me that the field contributes nothing to society, and has only negative externalities like raising barriers of entry to markets and using insane amount of resources.
Re: HFT in My Backyard (2014)
#6This blog actually got me into HFT. It's a fascinating industry with a lot of fun bleeding edge tech challenges.
I could be totally wrong, and perhaps I should read that blog, but working in HFT doesn't sound very rewarding except perhaps in a pure financial sense. It seems to me that the field contributes nothing to society, and has only negative externalities like raising barriers of entry to markets and using insane amount of resources.
It is 100% for making money by gaming the current systems.
Perhaps one day something good comes out of it. For example: Formula 1 racing is also totally not necessary, but can bring nice innovations for the 'normal' automotive industry.
Re: HFT in My Backyard (2014)
#7This blog actually got me into HFT. It's a fascinating industry with a lot of fun bleeding edge tech challenges.
I could be totally wrong, and perhaps I should read that blog, but working in HFT doesn't sound very rewarding except perhaps in a pure financial sense. It seems to me that the field contributes nothing to society, and has only negative externalities like raising barriers of entry to markets and using insane amount of resources.
HFT has significantly lowered trading costs for all investors. Here's a statement from the CEO of Vanguard espousing this position:
https://www.cnbc.com/2014/04/25/vanguard-chief-defends-high-...
Because of automation, the amount of resources used for trading have actually decreased. Computers are a lot cheaper that the many many humans who used to be involved in the process.
Re: HFT in My Backyard (2014)
#8This blog actually got me into HFT. It's a fascinating industry with a lot of fun bleeding edge tech challenges.
I could be totally wrong, and perhaps I should read that blog, but working in HFT doesn't sound very rewarding except perhaps in a pure financial sense. It seems to me that the field contributes nothing to society, and has only negative externalities like raising barriers of entry to markets and using insane amount of resources.
I guess it depends on your underlying viewpoint towards markets and capitalism.
I certainly don't think liquid financial markets and efficient asset prices qualify as "contributing nothing to society". Those components are extremely critical to the efficient allocation of investment capital, and overall functioning of the broader economy.
But if you're generally skeptical of markets and capitalism then you may not agree. However I'd say that should have a lot bigger fish to fry than the $2 billion HFT industry. For example the $300 billion advertising industry, or the $100 billion accounting industry, or the $100 billion credit card industry.
Re: HFT in My Backyard (2014)
#9This blog actually got me into HFT. It's a fascinating industry with a lot of fun bleeding edge tech challenges.
I could be totally wrong, and perhaps I should read that blog, but working in HFT doesn't sound very rewarding except perhaps in a pure financial sense. It seems to me that the field contributes nothing to society, and has only negative externalities like raising barriers of entry to markets and using insane amount of resources.
It's a lot of fun. Unlike selling ads for google.
Re: HFT in My Backyard (2014)
#10Earlier quoted context omitted.
I could be totally wrong, and perhaps I should read that blog, but working in HFT doesn't sound very rewarding except perhaps in a pure financial sense. It seems to me that the field contributes nothing to society, and has only negative externalities like raising barriers of entry to markets and using insane amount of resources.
HFT has significantly lowered trading costs for all investors. Here's a statement from the CEO of Vanguard espousing this position: https://www.cnbc.com/2014/04/25/vanguard-chief-defends-high-... Because of automation, the amount of resources used for trading have actually decreased. Computers are a lot cheaper that the many many humans who used to be involved in the process.
I think it’s more nuanced in reality. There are liquidity providing HFT strategies that profit off the spread - this is good for people moving big size like Vanguard. Then there are liquidity taking strategies that profit by picking off quotes in anticipation of a probable price move. I don’t see how those strategies help Vanguard. Also, most HFT firms do a mix of both types strategies...