What Twitter pile on are you watching right now (3 Viewers)

flashback

Well-Known Member
Joined
Nov 8, 2004
Messages
7,801
Location
Trumpland
Looks like two other funds, Citadel and Point72, bailed out Melvin, Melvin closed out their position.

So, someone's bonus is going to be a bit smaller this year, but no actual dead bodies.
 

pete

chronic procrastinator
Staff member
Since 1999
Joined
Nov 14, 1999
Messages
55,537
Location
iPanopticon
Website
thumped.com
Looks like two other funds, Citadel and Point72, bailed out Melvin, Melvin closed out their position.

So, someone's bonus is going to be a bit smaller this year, but no actual dead bodies.
Haven’t checked in today but last I heard it cost that hedge fund something in the region of $10B?
 

flashback

Well-Known Member
Joined
Nov 8, 2004
Messages
7,801
Location
Trumpland
Haven’t checked in today but last I heard it cost that hedge fund something in the region of $10B?
dunno what the final fallout was. It wasn't their finest day... but it's all funny money anyway.

When it gets into those sums it stops being real, invariably there's some other position or hedge or bailout, and the same boys do the same job and get the same massive salary a month or two later.
 

pete

chronic procrastinator
Staff member
Since 1999
Joined
Nov 14, 1999
Messages
55,537
Location
iPanopticon
Website
thumped.com
dunno what the final fallout was. It wasn't their finest day... but it's all funny money anyway.

When it gets into those sums it stops being real, invariably there's some other position or hedge or bailout, and the same boys do the same job and get the same massive salary a month or two later.
It’s not all funny money though - one of them seems to have turned a 50k investment (or rather, bet) into 22 million. Plenty more have cashed out.
 

flashback

Well-Known Member
Joined
Nov 8, 2004
Messages
7,801
Location
Trumpland
It’s not all funny money though - one of them seems to have turned a 50k investment (or rather, bet) into 22 million. Plenty more have cashed out.
oh the boys on wallstreetbets?

Yeah, they won. Sorry, I meant the hedge fund / money market guys.
 

flashback

Well-Known Member
Joined
Nov 8, 2004
Messages
7,801
Location
Trumpland
dunno what the final fallout was. It wasn't their finest day... but it's all funny money anyway.

When it gets into those sums it stops being real, invariably there's some other position or hedge or bailout, and the same boys do the same job and get the same massive salary a month or two later.


fucking lol. OK, after they got bailed out, for... I mean, yeah, billions of dollars, those same guys went straight back and shorted the same stock again.


Holy shit. I mean... they have to be right, at some point. Clearly that price is a bubble. But... the balls on these money manager guys (playing with other people's money). You'd think they'd simmer down for a day or two.

Apparently not. Funny.
 

flashback

Well-Known Member
Joined
Nov 8, 2004
Messages
7,801
Location
Trumpland
There's other traders called High Frequency Traders, where they basically set up in a server room *right next* to the stock exchange and run a fibre connect straight into the place.

Then they can run millions of tiny trades hundredths of a second ahead of the market, since they know the market fractionally before the price moves for everyone else, using software.

This works great until someone writes a bug, and the computer starts hemorrhaging money and crashing economies.
 

Cormcolash

Well-Known Member
Joined
Aug 20, 2002
Messages
21,317
Location
THIS IS SPARTA!!!
Website
geocities.com
There's other traders called High Frequency Traders, where they basically set up in a server room *right next* to the stock exchange and run a fibre connect straight into the place.

Then they can run millions of tiny trades hundredths of a second ahead of the market, since they know the market fractionally before the price moves for everyone else, using software.

This works great until someone writes a bug, and the computer starts hemorrhaging money and crashing economies.
That film The Hummingbird Project is very much about this kind of thing, worth a watch for Alexander Skarsgard's performance in it
 

shitepipe

Well-Known Member
Joined
Nov 3, 2005
Messages
3,019
Location
joss ackland's spunky backpack
Website
www.mixcloud.com
There's other traders called High Frequency Traders, where they basically set up in a server room *right next* to the stock exchange and run a fibre connect straight into the place.

Then they can run millions of tiny trades hundredths of a second ahead of the market, since they know the market fractionally before the price moves for everyone else, using software.

This works great until someone writes a bug, and the computer starts hemorrhaging money and crashing economies.
This is a great article on the physical infrastructure behind HFT and trading in general

 

pete

chronic procrastinator
Staff member
Since 1999
Joined
Nov 14, 1999
Messages
55,537
Location
iPanopticon
Website
thumped.com
It’s not all funny money though - one of them seems to have turned a 50k investment (or rather, bet) into 22 million. Plenty more have cashed out.
he's updated his info

a309gkm5yxd61.png
 

Users who are viewing this thread

Support thumped.com

Support thumped.com and upgrade your account

Upgrade your account now to disable all ads... If we had any... Which we don't right now.

Upgrade now

Latest posts

Trending Threads

Latest threads

Top