whatok

12 ms·

61.
by whatok 6y ago
> What exactly is "not fully understood" about Blackrock's role in the "outlandish valuations" of Apple and Microsoft? Blackrock is the #2 shareholder in each, after Vanguard, and owns 6.3% and 6.8% respectively.
62.
by whatok 6y ago
The Fed has not bought any corporate bonds yet. If you have some proof of that, please share your source. I work directly in this space, know everything that is going on and am unaware of any purchases so either I'm terrible at my job
63.
by whatok 6y ago
The vast majority of issuers in both those ETFs (especially HYG) are US companies. A liquid ETF with substantial AUM that only holds US issuers does not exist. You'll have to blame the companies that created and marketed the benchmarks
64.
by whatok 6y ago
There's an additional liquidity transformation with the fact that a majority of trading in the underlying happens over the phone/chat. Lack of liquidity in the underlying is why all of these ETFs were trading at 5%+ discounts to N
65.
by whatok 6y ago
Yes, that shows ETF purchases up until the date mentioned. The dollar value of purchases in there for Blackrock ETFs is around 48% which is around their existing market share for qualifying ETFs.
66.
by whatok 6y ago
The Fed isn't equipped to do security selection so that's why Blackrock is managing this facility. Blackrock is absolutely going to do secondary bond purchases (on the Fed's behalf) once that portion of the facility is up and
67.
by whatok 6y ago
This is also a misleading comment. The main purpose of the Secondary Market Corporate Credit Facility is to purchase secondary market bonds and this is stated in the IMA and term sheet. The only reason why they're buying ETFs right now
68.
by whatok 6y ago
The Fed has two corporate facilities in-place right now: the Primary Market Corporate Credit Facility and the Secondary Market Corporate Credit Facility. ETF purchases fall under the SMCCF. Secondary corporate bond purchases are also under
69.
by whatok 6y ago
Excel is a very effective tool for many things but suggesting that it would be useful to spend time learning Excel to prepare for HFT is really bad advice.
70.
by whatok 6y ago
Consuming more of this product does not necessarily lead to an increase in revenue.
71.
by whatok 6y ago
For HFT? Absolutely not. For trading? The original poster needs to clarify what they mean by "trading" as this is probably still the case for most tech-driven prop trading firms.
72.
by whatok 6y ago
How much of your day was taken up by meetings before and is the same amount of time used for the equivalent meetings now? Do you have additional "status" meetings that were hastily put together just because?
73.
by whatok 6y ago
At the end of the day, that comes down to the type of industry/work and whether you have effective management. Organizations that are able to make 100% remote work function properly are at a serious competitive advantage in many ways.
74.
by whatok 6y ago
I live in New York, have a reasonable commute (20-30 mins each way), and vastly prefer working from home. The commute is only one factor in my preference and I can't really decide whether saving time outweighs what used to be a dedicat
75.
by whatok 6y ago
This is also somewhat of a self-correcting problem too. If these conversations really matter so much and either information isn't transmitted efficiently throughout the organization or it becomes a remote vs office clique thing, manage
76.
by whatok 6y ago
Surveys are fine and all but in some industries/companies, workers are not going to have much say in this. When it comes down to cost savings from increased productivity and reduced/eliminated office space, the decision is very ea
77.
by whatok 6y ago
It really depends on how old your kids are. If your kids are of school age then the distraction at home is minimal. I'm sure someone is going to come in reply with "omg but they're real rascals in the morning!!!!" I woul
78.
by whatok 6y ago
You had asset prices and rates at much different levels during this downturn vs your three downturns. You haven't had asset prices correct to what economic reality is (not saying they should necessarily but that's what's need
79.
by whatok 6y ago
Even a larger company like Ableton is not supporting the previous version of Live in Catalina and won't release any updates for it: https://forum.ableton.com/viewtopic.php?f=1&t=235803 The grandparent suggests that
80.
by whatok 6y ago
In normal functioning markets, maybe? When stuff like the events of the past few months happen, markets just stop trading altogether. If there's thin trading in an already illiquid market, there's no mechanism that forces things t
81.
by whatok 6y ago
There's a few reasons. The Fed's mandate to "promote maximum employment" has taken the form of ensuring properly functioning capital markets. ETFs not getting too dislocated from NAV is an important part of that because
82.
by whatok 6y ago
Your thought pattern makes sense but a lot of dislocations in these markets are once again due to liquidity. I think the easiest way to summarize this is because of the liquidity transformation ETFs provide, the tail wags the dog until it d
83.
by whatok 6y ago
There's a few faulty assumptions that might apply to more liquid and efficient markets but do not apply to corporate bonds. Corporate bond liquidity is minuscule and many create/redeems are done with incomplete baskets vs actual u
84.
by whatok 6y ago
Apple does not have a clear and complete vision for their software. They consistently break things with OS and hardware updates. Many of the developers for audio applications are extremely small teams and cannot turn around updates at the d
85.
by whatok 6y ago
Blackrock is waiving ETF fees for this facility (don't know off the top of my head if other providers are as well) and overall fees for managing these facilities are not great. The Fed does not have the operational expertise to manage
86.
by whatok 6y ago
There might not be CPI inflation but there's definite asset inflation which trickles down to real estate which trickles down to rent which trickles down to money in everyday consumers' pockets.
87.
by whatok 6y ago
The Fed buying bond ETFs is a small portion of the overall SMCCF. They are buying bond ETFs right now because the issuer certification process for buying individual bonds has been dragged out and right now it seems that not many issuers wan
88.
by whatok 6y ago
Few things: - No one knows how much or what exactly they're buying but they're limited by the size of the overall facility and are primarily going to stick to investment grade with a carve out for fallen angel and HY ETFs. Blackro
89.
by whatok 6y ago
Yeah, I'm thinking of the person who either fell for the Mac propaganda or already had one. There still is a sizable advantage to knowing that things will probably work out the box on a Mac laptop vs random PC laptop but the price gap
90.
by whatok 6y ago
I know how Live works, I've owned it for way too long now. I'm talking in relation to features Logic has lifted from Live, if you are just starting out and don't really know what's going on, it's a very hard ask to

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