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> it's hard to argue with success: Jane Street earned $6.3bn in the first half of 2020, up more than 10x from the year before ($, FT). It’s actually quite easy
by JackFr 4y ago
> it's hard to argue with success: Jane Street earned $6.3bn in the first half of 2020, up more than 10x from the year before ($, FT).
It’s actually quite easy to argue with that. It’s 1 (or 2 at best) data points. 6.3bn is meaningless without knowing the capital put to work to achieve that. And finally if your 10x YoY it’s just as likely you had a bad year before as a good one this year.
- deleted 4y ago[deleted]
- logicchains 4y agoApparently most of that came from arbitraging bond ETFs and bonds. The spreads started to diverge in early 2020 when covid was just coming out, and Jane Street had the balls (and cash) to hold until the spreads converged. Helped significantly by the US fed pumping a bunch of money into the market.