nv-vn

16 ms·

31.
by nv-vn 6y ago
I didn't mean to call the GFC a bug, I'm saying that the instances where volatility has significantly and immediately spiked have been: 1. The GFC which wasn't caused by HFT 2. Certain instances where HFT bugs led to "fl
32.
by nv-vn 6y ago
Maybe to some extent? The teams doing proper HFT are all dealing with C++ or hardware. This is true across the industry AFAIK at places like HRT, Citadel Securities, Jump, etc. Some of these might use some Java for things that don't re
33.
by nv-vn 6y ago
This is a really frustrating comment because it has so little to do with the real world of HFT. >In a sane market, there would be no advantage to making an investment and then selling it a few milliseconds later. And yet exchanges (NASDA
34.
by nv-vn 6y ago
I disagree. Trading may seem zero sum on a short timescale, but over the long term markets (empirically) trend upwards. Thus, simply being invested in diverse indices should yield some positive return in the long run. This makes sense as lo
35.
by nv-vn 6y ago
Jane Street famously uses OCaml for these types of guarantees, so I would think Rust would offer similar benefits.
36.
by nv-vn 6y ago
Probably a hardware team using FPGAs. Software tends to be way less predictable than hardware, so to even get to the point where you can reasonably count nanoseconds it often requires hardware
37.
by nv-vn 6y ago
I didn't get that. I think it's something they added in a second update after complaints from people who already updated
38.
by nv-vn 6y ago
I'd guess that a lot of the delay comes from auditing and then getting someone at the SEC to actually read your filing before publishing it. In terms of how many people are involved, this might help give you an idea: "We have enga
39.
by nv-vn 6y ago
I know for earnings reports the SEC uploads XBRL documents to EDGAR. Weird that they don't do the same for S-1s.
40.
by nv-vn 6y ago
Wow that is just insane, 38% of revenue in 2019 for just 4 executives at Snowflake... how the hell do they justify that?
41.
by nv-vn 6y ago
Asana's financials are way worse. The margins and revenue growth are useless when they spent 87% of profit on marketing for the last quarter. It seems like it's extremely expensive for them to make new sales and probably not cheap
42.
by nv-vn 6y ago
Why not model based on expected future cash flows? That's basically the gold standard in finance and what you'd expect most investors to follow.
43.
by nv-vn 6y ago
This filing looks like it has a ton of red flags about the way Asana is running their company. As an example, one of the images tries to highlight Asana's timeline and their achievements [1]. One of the things they mention is opening a
44.
by nv-vn 6y ago
I think it has to do with the fact that HN has many users who are employed at startups. When you get paid in what is essentially monopoly money, you're going to be envious of startups which are able to turn that into cash. It seems to
45.
by nv-vn 6y ago
> it's not like they were running at a loss Well looking at their income statement, they were actually running at a loss haha
46.
by nv-vn 6y ago
I'd imagine that they're in desperate need for more funding, as their valuation will have certainly gone down since the start of the pandemic. One of the big advantages of going public (apart from selling the equity) is that you g
47.
by nv-vn 6y ago
Disclaimer: not an FPGA expert I think really any task can benefit from being ported to FGPA, but FPGA clocks tend to be slower than CPU clocks and large logic will force you to lower the clock as components become more spread out on the ch
48.
by nv-vn 6y ago
>But secondary trading is still a zero-sum game. This is a claim that I think you really need to back up with some kind of proof, because it is so central to your line of thinking. All the points in your comment follow if this is true, b
49.
by nv-vn 6y ago
I can see where you're coming from, but it's important to remember that what they are competing on is not only time but also spreads. Spreads have tightened substantially over the past couple decades thanks to these firms [1], whi
50.
by nv-vn 6y ago
I think you're thinking of the wrong definition for "meaning." OP is talking about what code in a language means, i.e. when I see the code say `1 + 2` does that mean that the numbers signed or unsigned? Are they arbitrary pre
51.
by nv-vn 6y ago
This is like the biggest [citation needed] I've ever seen
52.
by nv-vn 6y ago
Market makers routinely have to adjust their quotes as the price moves. If they set a price and then the market moves significantly, the price will soon be incorrect. If they leave the order on the book then they might get undesirable fills
53.
by nv-vn 6y ago
Is it even a legitimate problem? Exchanges are well-equipped to deal with this kind of thing and direct access to exchanges is moderated by broker-dealers. As a normal user (algo trader or otherwise), you cannot directly plug into the excha
54.
by nv-vn 6y ago
That's an interesting point that I didn't really consider. Thanks!
55.
by nv-vn 6y ago
Agree to an extent, but not all money in quant finance is generated through HFT. Notably, I don't think funds like Rentec are really doing much to get low-latency [1]. Latency obviously does matter for any kind of quant trading, but to
56.
by nv-vn 6y ago
I mentioned the idea of adjusting for risk in the GP post, though you are correct that I didn't call out any specific measure like the Sharpe ratio by name. If your risk-adjusted returns are worse than S&P 500 then obviously levera
57.
by nv-vn 6y ago
Modern finance is built on top of this type of technology. There are hundreds if not thousands of firms participating in "quantitative finance," attempting to use computers/statistics to predict markets. The vast majority of
58.
by nv-vn 6y ago
I think the answer is yes & no. If you come up with a sufficiently clever strategy using public data that other people haven't thought to use it's definitely doable. For example, someone with a good understanding of meteorolog
59.
by nv-vn 6y ago
Also considering you're the OP & are trying to argue in favor of this type of trading, it would be very informative to disclose what kinds of returns you actually made. It's hard to expect people to listen to your opinion in a
60.
by nv-vn 6y ago
If the above is true, why would a fund not just allocate a small amount of resources to trade on OP's strategies. Either: (1) OP's strategy performs worse than the alternative (2) They already do this, and have resources that allo

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