consz

18 ms·

151.
by consz 10y ago
Do you have a blog? I like reading your thoughts (though I'm unclear on how much of it I believe). Your previous posts have convinced me to read The Book of the New Sun. I'm optimistically hoping it is as good as you believe it is
152.
by consz 10y ago
Most market makers are prop trading firms, though -- I think it's incorrect to act like these classifications aren't highly correlated.
153.
by consz 10y ago
Do you think that's any more likely than the constructor of std::string changing?
154.
by consz 10y ago
A very, very large majority of all trading volume is done against HFT market makers. Regardless of the non-HFT trader's motivations, they appear to consistently trade with the HFT market maker over some other participant -- why is that
155.
by consz 10y ago
Why do people trade against HFT (particularly, HFT market makers) if they just siphon money out?
156.
by consz 10y ago
Could you expand on why you think the activity of HFT is "unnecessary trading?"
157.
by consz 10y ago
All trading (up to epsilon error) done by retail and institutional investors is with HFT as a counterparty -- disrupting HFT has direct consequences on the bid-ask spread they're capable of maintaining (in the worst case, they'll
158.
by consz 10y ago
Isn't the null hypothesis sufficient?
159.
by consz 10y ago
They're either not on the same exchange, or they're not in the same moment (ie. HFT is buying at time X with the expectation they can sell for a profit at time X+epsilon).
160.
by consz 10y ago
I'm guessing the fact that his own hunger was the most memorable part of the evening is an indicator of the quality of conversation available at the dinner party. Billionaires are people, too, and I'd bet they just shot the shit f
161.
by consz 10y ago
Why would you compare revenue to income?
162.
by consz 10y ago
Totally disagree with the final sentence. Most math/programming olympiad winners are way more than capable of handling anything the Macgyver/Edison type would be good at. At least in my industry, every olympiad winner has been a
163.
by consz 11y ago
That sounds like the HFT is providing a better bid-ask spread.
164.
by consz 11y ago
Isn't the fact that people trade against their quotes sufficient evidence? After all, if someone besides the HFT had a better quote (e.g. better price), people would trade against that instead of the HFT's quote.
165.
by consz 11y ago
Are there any enforced requirements at Stanford? I don't think I ever had any formal review of the classes I signed up for making sure I actually met the requirements -- there must've been at least a handful of classes I had signe
166.
by consz 11y ago
I think that's giving it too much credit -- this forum is much more a part of the marketing arm of YC (the investment firm) than it is a general forum (like e.g. Reddit).
167.
by consz 11y ago
Let me be more clear -- if internalizers are regulated to use anything , why aren't they regulated to use the direct feeds specifically? If the regulation specifically allows them to use the SIP, that seems to be a failure of the regu
168.
by consz 11y ago
Shouldn't internalizers be required to use direct feeds instead of the SIP? The SIP, by construction, will always be lagging the 'real' (if that even means anything) NBBO.
169.
by consz 11y ago
If you are so happy to discuss what the SIP should be in an ideal world, why don't you? This reply seems to be a deliberate non-answer.
170.
by consz 11y ago
Is this why michaelochurch account hasn't been posting as much lately? I always thought that was the most interesting user that posted here, why push him away?
171.
by consz 11y ago
I've never been convinced by that argument. Looking back on my memories as a child, I wouldn't call myself creative -- I think that's something that I've developed as I've grown older, not something I was born with.
172.
by consz 11y ago
I don't see how our discussion is heated. I'm merely asking for specific examples, because reading an article about how quiet and media-averse a particular HFT firm is doesn't ring any bells in my head.
173.
by consz 11y ago
Please be more specific, the article doesn't appear to say anything other than that Jump has no interest in talking about themselves to outsiders (and why should they? They have no customers, they have no reason to publicize themselves
174.
by consz 11y ago
Of course, I think they're the only trading firm named Jump. Is there something particular in that article you wanted to point out?
175.
by consz 11y ago
Sure -- Jump, Tower, HRT, Citadel all have similar results. Why do you not believe such results are possible? Do you think it's impossible for a firm to have statistically positive edge for sustained periods of time?
176.
by consz 11y ago
Why do you think Virtu's performance is impossible without "front-running"? Do you not think you would see similar results for any firm with statistically positive EV that makes a large number of trades every day?
177.
by consz 11y ago
>Its exchange competitors, which include the New York Stock Exchange, Nasdaq and BATS, cater to the interests of high-frequency traders, which typically provide more than 50 percent of all trading volume. This is true for IEX -- the top
178.
by consz 11y ago
The US equity market does about 4b in transactions a day; let's say the average trade size is $1000 dollars (probably an aggressive estimate; I'd expect it actually to be higher), and you record the ticker (4bytes) + price(8) + qu
179.
by consz 11y ago
I enjoy being snarky for my own benefit, and my time is extraordinarily cheap, so wasting it is little cost.
180.
by consz 11y ago
You did not post anything worth constructively responding to.

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