6,875 karma · joined September 5, 2016
Is that a lot?
20B in Ohio: https://www.intel.com/content/www/us/en/newsroom/news/intel-...
20B in Arizona: https://www.intel.com/content/www/us/en/newsroom/news/intel-...
How could it be possible for an arbitrageur to not know the difference between entity A and entity B?
P&L up/downs and internal funds transfers are an essential part of running that kind of business. You can't sell something in Asia and simultaneously buy it in the US without thinking carefully about how you finance your trading activity.
Compared to the alternatives, Jane Street doesn't exactly select for street smarts. (Nor does MIT, to be frank.)
Sam Bankman-Fried's statement to Tyler Cowen that he will take any positive-EV bet regardless of the standard deviation of returns, sounds more like a learned-by-rote answer to an on-campus trading interview question rather than a core tenet of a trading philosophy. Professional traders at major institutions (including Jane Street) care about things like Sharpe ratio, value at risk, and position sizing. Not to mention that Jane Street asks Fermi questions in their interviews. I wouldn't be surprised if the average MIT senior with three or more trading offers could proffer the same kind of demonstrations/responses as what you describe.
One thing I learned from the Martin Shkreli saga is that, if the people hate you enough for something atrocious that is technically lawful, the government will poke holes in you until they find something not-atrocious that is clearly unlawful. There's probably value in winning the public over, even if they don't technically have a say in the legal proceedings.
Let everyone be subject to the governing
authorities, for there is no authority
except that which God has established.
The authorities that exist have been
established by God. [Romans 13:1]
This doesn't mean one should necessarily treat the law of the land as perfectly moral (eg MLK Jr), but lawfulness and a respect for order will serve to elevate arguments against the established practices. I believe that Apple has more influence in China when the Chinese authorities view their company as respectful and cooperative.My view is that Western Europe has become less relevant to North American culture, technology, and finance over the past five or so years. Latin America and Asia are now far more relevant to North American life and the future thereof.
I share your thoughts about the Economist and I feel it has gone downhill. I wonder how much of that is due to the cultural and economic decline of the UK and the public narrative shift accompanying that decline. Brexit brought some very unsavory and counterproductive sentiments to the fore.
Alternative "assets" like crypto gained more credence when rates were low. Bond returns in such a regime were not attractive, equity markets rallied to elevated levels, and there was little incentive for debt issuers to use free cash to pay down debt that could be rolled out into perpetuity.
The Fed essentially held the cost of money near zero and that had far-reaching effects.
This is why we need to end
the App Store duopoly before
the end of this year. No one
should have this kind of
market power.
https://twitter.com/RepKenBuck/status/1597309680497217536How is it anticompetitive if Twitter can be accessed from the web?
Either way, the forward is 0. I'd rather see a company run itself aground by paying its employees and slowly bleeding money than to see it fail due to mis-valuation of its holdings. The former is unfortunate, but the latter is an embarrassment for all stakeholders.
https://www.digitimes.com.tw/tech/dt/n/shwnws.asp?cnlid=1&id...