The problem is that people make offsetting trades in other markets, that are built on other systems, to lock in profits in the primary market.
This is exactly the problem, but it's even more complex if you look at it in a portfolio context... I might be hedging a ford position w/ gm, and if I see ford freak out, I might start trading gm and ford together. If ford trades get busted, but my gm trades hold, I'll be in an awkard position...
It's hard to say... last year, some butter fingers from credit suisse (I believe) added an extra zero or two for a large ftse futures order -- the price moved up 200 index points (5%) in an instant... (and promptly fell back after the market re-adjusted). Those trades were kept, and I've heard that the party that messed it up actually came out ahead (not sure, though)
I don't work in any recruiting function, but I am an American that's worked in London for the last few years....
and from what I've seen, English tech graduates are pretty good, but very, very specialized. Folks from, say, Imperial, or UCL (University College of London) are good programmers, but the three-year degree system keeps people from being well-rounded... (even three years in maths from Oxford doesn't imply much significant post-A-level education in anything but maths...)
From what I've seen, the 4-5 year American system provides more well-rounded people (who might not be as good at programming, but are probably more than 'sub-literate'). I've had one UK tech grad ask me who confukius was (confucious) -- I think you'd get a bit more understanding from a US grad.
(I'm only talking about people from high standard universities from both sides of the pond -- the place I work doesn't have too much else).
apologies for pegging onto your highly rated comment, but I wanted to let people know that Gutenberg was not the first guy with movable type -- it was the Chinese/Koreans (depends on what you consider moveable enough)
For a bit of history, see this page which says the the Chinese started with ceramic type, and the Koreans took metal type into a new level...
Probably because it seems unlikely that the sf chronicle (a major newsource) is going to be slashdotted. It's like saying the NY Times is going to be.
I'd guess that some mod took this as playing for Karma.
How locked down? PuTTY can do SSH through any HTTP proxy server that allows CONNECT (which most of them if you want to support SSL). And it can use SSH's X11 forwarding capabilities. So setup a Linux box on a cablemodem at home, ssh into it and start launching X applications (i.e., gaim).
rules:
All emails are kept (Archived, not by us)
No external email accounts (it's a big offense if you use hotmail, etc, from work)
Internal instant messaging (logged, of course)
No external instant messaging (you crazy? Hell no -- you can't just install random software from the web on a trader's desktop
All phone calls are recorded (not sure how)
Cell phones are banned on the trading floors (I see them sometimes (and carry mine), but I think it's not cool).
There might be cameras, but I don't know.
All of this promotes accountability & transparency... and is good for clients and the market in general...
It's not like they look/read everything, but it has to be on file in case of a lawsuit, etc.
re: the guy talking about remote desktop, etc...
That might work at some firms, but I'd imagine most of the bigger firms are really, really locked down.
I'd guess that those statistics work well if you're doing an equal number of transactions throughout the day... I know for my job (investment bank), we do millions of transactions, but only during market hours... (so we'd have 3 times the load you suggest during those 8 or so hours, and relatively less off hours).
This has come up several times in posts on this thread --
It doesn't matter what you think is going to happen -- all of your wealth is tied up in ONE source. If something DOES happen, you're screwed (also, as CEO, there's also a high correlation between the stock going down and you losing your job, which means no more new cashflow). Better to sell a good chunk and invest in government bonds or something else relatively riskless, or, perhaps, something that has a negative correlation with your company (so if your company goes down, you'll at least make up some of your money on the other side, as a hedge).
I'd never trust my judgement 100% -- if my company started loading stock on me, I'd sell some of it, just in case (even though I think my company is well positioned). Not doing this is what screwed all of those Enron employees, and, unfortunately, my own father's employer a while back.
In any case, if you're investing your own money like this (i.e. monotonically long your company), I'd suggest reading up about diversification before going too much further... (my apologies if you've got financial credentials or something, but I strongly disagree with your analysis).
A few years back, I took a class with George Lakoff... at the time, a close friend of mine was a cog sci major, and I hung about quite a bit.
His metaphor stuff is really good -- when you get it, it's like a new way of looking at all of the old language and thinking you've ever used before... (I'm sure you know what I mean).
Cognitive scientists are usually more concerned with getting the machines to do what we want than they are with modeling human thinking techniques.
I think the answer is somewhere in the middle. My experience with cogsci is that it's really about understanding thought, not about making machines. I think it really depends on where you are. If you're at MIT, it's probably machines. If you're at Berkeley, it's probably thought (at least for me, I took a class on cognitive metaphor, and we had lots in that direction. I think Santa Barbara is also more brain-focused (so-called "west-coast school")).
Yeah, because most prostitutes aren't economically coerced or otherwise forced...
Point taken/already understood -- I was just trying to split the exploitation into parts.
Exploitation based on money/sex/power relationships
and exploitation of the image/profits the owner makes off of it relative to the exploited's compensation/etc.
Stephen Roach was one of the speakers at Davos (chief economist at Morgan Stanley) -- he just knocked down his growth estimates for the next few years.
From what I've head from different sources, there's really no reason to be too excited about the economy right now -- we're in a transition, and it's going to take a long time to find a new balence.
I'd imagine, though, that the bulk of women who are tapped for this are already in the market as prostitues (it makes sense -- there are usually established ways for outsiders to find prostitutes, and I would guess the only differences between the two are that the action is being recorded when it's for porn).
This isn't to say that it makes it OK, etc, but if, say, all of them are willing prostitutes (of reasonable age/education, not economically coerced or otherwised forced), that does narrow the scope of the exploitation by a bit.
Slashdot Mirror
And the German economy sucks.
Thanks for posting & sharing -- sorry you had such a bad experience.
It's hard to say... last year, some butter fingers from credit suisse (I believe) added an extra zero or two for a large ftse futures order -- the price moved up 200 index points (5%) in an instant... (and promptly fell back after the market re-adjusted). Those trades were kept, and I've heard that the party that messed it up actually came out ahead (not sure, though)
exactly, well said AC. One can only rest on their laurels for so long...
I agree -- Krugman discusses related stuff in a recent column. paul krugman's column People are pretty short-sighted, perhaps on both sides...
I don't work in any recruiting function, but I am an American that's worked in London for the last few years.... and from what I've seen, English tech graduates are pretty good, but very, very specialized. Folks from, say, Imperial, or UCL (University College of London) are good programmers, but the three-year degree system keeps people from being well-rounded... (even three years in maths from Oxford doesn't imply much significant post-A-level education in anything but maths...) From what I've seen, the 4-5 year American system provides more well-rounded people (who might not be as good at programming, but are probably more than 'sub-literate'). I've had one UK tech grad ask me who confukius was (confucious) -- I think you'd get a bit more understanding from a US grad. (I'm only talking about people from high standard universities from both sides of the pond -- the place I work doesn't have too much else).
Although it speaks to a 'geek concern', I'd rather have a question more relevant to running the state as a whole be asked.
Something like... "How are you going to defend accusations that you're too young?"
Yeah, it's almost like "Never attribute to intelligence what you can attribute to selfishness" or something ;)
apologies for pegging onto your highly rated comment, but I wanted to let people know that Gutenberg was not the first guy with movable type -- it was the Chinese/Koreans (depends on what you consider moveable enough)
For a bit of history, see this page which says the the Chinese started with ceramic type, and the Koreans took metal type into a new level...
Korean metal print block
this guy talks about how Gutenberg might have been the first to mass produce MT - that could be a first (I don't know, either).
try arial fonts history probably even better.
Or... you could just sell the warrants or write and purchase appropriately ratioed calls.
Probably because it seems unlikely that the sf chronicle (a major newsource) is going to be slashdotted. It's like saying the NY Times is going to be. I'd guess that some mod took this as playing for Karma.
rules:
All emails are kept (Archived, not by us)
No external email accounts (it's a big offense if you use hotmail, etc, from work)
Internal instant messaging (logged, of course)
No external instant messaging (you crazy? Hell no -- you can't just install random software from the web on a trader's desktop
All phone calls are recorded (not sure how)
Cell phones are banned on the trading floors (I see them sometimes (and carry mine), but I think it's not cool).
There might be cameras, but I don't know.
All of this promotes accountability & transparency... and is good for clients and the market in general...
It's not like they look/read everything, but it has to be on file in case of a lawsuit, etc.
re: the guy talking about remote desktop, etc...
That might work at some firms, but I'd imagine most of the bigger firms are really, really locked down.
It doesn't matter what you think is going to happen -- all of your wealth is tied up in ONE source. If something DOES happen, you're screwed (also, as CEO, there's also a high correlation between the stock going down and you losing your job, which means no more new cashflow). Better to sell a good chunk and invest in government bonds or something else relatively riskless, or, perhaps, something that has a negative correlation with your company (so if your company goes down, you'll at least make up some of your money on the other side, as a hedge).
I'd never trust my judgement 100% -- if my company started loading stock on me, I'd sell some of it, just in case (even though I think my company is well positioned). Not doing this is what screwed all of those Enron employees, and, unfortunately, my own father's employer a while back.
In any case, if you're investing your own money like this (i.e. monotonically long your company), I'd suggest reading up about diversification before going too much further... (my apologies if you've got financial credentials or something, but I strongly disagree with your analysis).
His metaphor stuff is really good -- when you get it, it's like a new way of looking at all of the old language and thinking you've ever used before... (I'm sure you know what I mean).
Good luck with you work!
I bought one, and it _never_ would have crossed my mind if it wasn't for OS X...
I don't think I'm the only one, either.
Exploitation based on money/sex/power relationships
and exploitation of the image/profits the owner makes off of it relative to the exploited's compensation/etc.
Stephen Roach was one of the speakers at Davos (chief economist at Morgan Stanley) -- he just knocked down his growth estimates for the next few years.
From what I've head from different sources, there's really no reason to be too excited about the economy right now -- we're in a transition, and it's going to take a long time to find a new balence.
disclaimer: I work for Morgan Stanley
I'd imagine, though, that the bulk of women who are tapped for this are already in the market as prostitues (it makes sense -- there are usually established ways for outsiders to find prostitutes, and I would guess the only differences between the two are that the action is being recorded when it's for porn).
This isn't to say that it makes it OK, etc, but if, say, all of them are willing prostitutes (of reasonable age/education, not economically coerced or otherwised forced), that does narrow the scope of the exploitation by a bit.