patio11

31 ms·

301.
by patio11 7y ago
For what it is worth, I saw this story and thought "Oh, I love this; creative use of metadata in the payments system", principally because I am professionally involved with payments. All the "coincidences" here are expla
302.
by patio11 7y ago
The name for the product category you're broadly describing is "smart beta." This exists in quantity. "SPY but without overvalued stocks in it", etc etc. The reason the exact product you want doesn't exist is b
303.
by patio11 7y ago
Coal kills more people than nuclear over all time periods, including nuclear accidents. The numbers are not close. The death toll attributed to coal is down to a historical low of (low-end estimate!) 7,500 people per year in the US.
304.
by patio11 7y ago
This should be a fairly simple calculation: coal kills a lot more people than nuclear. It has also, over the course of the last 100 years, produced far more nuclear waste exposed to the environment than nuclear power has (including if you n
305.
by patio11 7y ago
FYI: The SEC can issue an "administrative subpoena" on its own authority, created by Congress. They're only tested in court if you refuse, at which point the SEC (or similar agency) can go to any court of competent jurisdicti
306.
by patio11 7y ago
If it helps: The salaries paid to early career engineers are mostly option value for mid-career engineers rather than being a direct attempt to compensate for your year 1 productivity. You might have a good bead on what your year 1 producti
307.
by patio11 7y ago
This is widely acknowledged as being one of the key intellectual antecedents of the Toyota Production System and various similar systems in Japan. My flippant but not terribly controversial phrasing for it: Japan’s economic prominence was b
308.
by patio11 7y ago
Robinhood is making more than most on their orderflow Robinhood's apples weigh more than Schwab's oranges, because Robinhood encourages users to do options trading (and be more active on it) and Schwab does not. Spreads are wide
309.
by patio11 7y ago
Can confirm. Remember, a) if they sell it to a debt collector, they're probably selling at 3 to 5 cents on the dollar [+] and b) they can't sell it, at all, if your bankruptcy notification gets to them before the Big Ponderous Cor
310.
by patio11 7y ago
Schwab discloses their PFoF in their annual reports. It is 1.4% of their annual revenue. Page 31 of their 2018 10-k or, if you want a search string, Ctrl-F for "Order flow revenue was $139 million during 2018, $114 million for 2017, an
311.
by patio11 7y ago
The practice can pretty quickly add up to millions on a sizable account Can you demonstrate this claim, with math? Within an order of magnitude, what would the size of that account need to be, what would its trading frequency need to be,
312.
by patio11 7y ago
It generally surprises people to learn that the number of bank tellers in the US is up, substantially, since the introduction of ATMs. It is also up since 2000. (This information is abundantly available from the Bureau of Labor Statistics o
313.
by patio11 7y ago
I very rarely suggest edits to HN titles but I feel like adding "for two hours" makes the title a lot truer than the New York Times' one, and that after you have the true title with the "Wow, Japan, how charmingly inscru
314.
by patio11 7y ago
Walgreens will happily close a location and move it across the street to take advantage of a more advantageously shaped curb cut if they can't get the Illinois Department of Transit planner to approve the optimal curb cut from their cu
315.
by patio11 7y ago
Do you work in commercial real estate? My father does, and would pick them and Walgreens as the most effective scaled siting operations in the US. Optimizing for absence of failed stores would be an interesting utility function for them to
316.
by patio11 7y ago
Because you're evaluating the effectiveness of one control in isolation, whereas the pension fund has a lot of controls, including e.g. an operational team which knows that wiring money to the Caymans is intrinsically high risk, a writ
317.
by patio11 7y ago
While that was a high percentage guess, and I have learned a lot at Stripe, I have pre-existing comparative advantage on this topic as a result of Ctrl-F “weird hobby”: https://www.kalzumeus.com/2017/09/09/ide
318.
by patio11 7y ago
Overdraft fees: depends on your bank’s policies. Many low sophistication bank users will eat fees in this case and not attempt to get them reversed or not successfully convince T1/T2 CSRs to push the button for them. Words which are cl
319.
by patio11 7y ago
Knowledge of a bank account number is sufficient to attempt to debit it. Whether it will appear to succeed or not depends on the bank and a variety of factors. Regardless of whether it initially successes, it is (very) reversible. There’s a
320.
by patio11 7y ago
Since this is sort of my beat: If this ever happens to you, immediately call bank, say “Electronic transaction posted in error.”, specifically identify the transaction, and ask what address the bank takes Regulation E written complaints at.
321.
by patio11 7y ago
You can have named users or you can have (conceptually) a role account, like saas_subscriptions@example.com. We recommend businesses set up the latter for recurring purchases on e.g. infrastructure that aren't tied to a particular pers
322.
by patio11 7y ago
I work at Stripe. Prior to doing so, I fed my family out of a Stripe account for 6+ years. We're keenly aware of the importance of not messing with our customers' finances in this fashion, not the least because startups are both a
323.
by patio11 7y ago
The more sophisticated part of the argument is that indexes require overexposure to thinly traded stocks and that in a market sell off the assets linked to the index would see outflows, which require selling the underlying(s), which would c
324.
by patio11 7y ago
If this subject interests you, the Pension Tsunami blog has 15 years of posts about the details.
325.
by patio11 7y ago
Are they required at any point to send me a check? They're required to do what they promised to do in your Deposit Account Agreement and/or are required to do by state law. In some states if you take no action to recover it they
326.
by patio11 7y ago
In many cases they’ll be paying 1% of e.g. $40 either to avoid having to think about this any more or because they have extremely toothy consequences to not having the cash today. e.g. The implicit interest rate on an NSF fee if they don’t
327.
by patio11 7y ago
If you don’t get the money you’ll call up Citibank again to complain and they’ll take the hit to their operational losses budget [0], which happens infrequently as a percentage of transactions but quite frequently over the totality of the s
328.
by patio11 7y ago
Ask a simple question, get a simple answer: no. The reason credit card companies are willing to give customers rewards/cashback is that they’re competing, primarily for interchange revenue. Most cards are guaranteed to be profitable fo
329.
by patio11 7y ago
Yes. One (one!) gets there primarily via donations. All the rest are operated as small software companies which happen to have a OSS product available. To the next obvious question "Who are you talking about?", I'm going to d
330.
by patio11 7y ago
In my experience one sees roughly similar results with: "Write a function which counts the number of a's in the input string." "We will give you an array of words. Print out each word which appears more than 3 times in t

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