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No free boundary questions at all. 
I was looking forward to making my superfluid analogy.
I was looking forward to making my superfluid analogy.
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12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum -
Can you give the non-twitter narrative version of the interview?I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Do you really think we'd understand the non-twitter version?KH FOR OWNER!
ASHER FOR CEO!!
GUYNEMER FOR OT MOD!!!Comment
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I'll talk in general, but no specific questions:Originally posted by DanS View Post
Guy calls, tells me some of his background (which I already knew from google)
Tells me what the group does, how he spends his time
I ask a couple of interested questions
He asks me some trivial finance questions, but they're supposed to be quickfire, I suppose. I linearize functions in my sleep, so it's easy to say answers as fast as he can ask the questions
Asks some brainteasers. I've seen some of them. Tell him when I've seen them. Solve all of them without any difficulty at all. I'm really good at brainteasers.
Asks some more finance questions; more detailed ones this time. I give multiple paths to the right answer for each question. I get the feeling I actually might understand stochastic calc. better than he does. Don't get a chance to bust out awesome **** like Feynman-Kac thm. because he stops me before I get there and tells me it's good enough.
Asks some questions about my thesis, how I described my research on the resume yadda yadda yadda. Try to put everything in layman's terms. This is likely a test of communications skills with non-technical types, as he knows very little physics (communicating results is a significant part of any good quant job).
Asks me some numerical methods questions. I give a few answers showing that I've thought about the relevant issues before. We have a mild debate over whether convergence to 10^-6 or 10^-12 is the gold standard. He is a numerical methods PhD, so I defer to his judgment (10^-12).
He asks if I have any more questions. Ask him a couple more questions. He thanks me, says he's really enjoyed talking to me, I thank him for his time, say I look forward to talking to him again.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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But who is your new tailor?"I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburgerComment
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Are you applying for the job?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Do they?Originally posted by KrazyHorse View PostThere really is no problem with naked shorting that needed fixing. PEOPLE COVERED THEIR SHORTS. There wasn't a string of cases where people failed to cover or something. WTF is the problem?
EDIT: read some more. what a ****ing retarded article. I like how he started with some claim of an actual crime and then proceeded to write a bunch of crap that doesn't even make logical sense. "Counterfeiting shares" my ass. Do banks "counterfeit money" when they print deposit statements exceeding their reserves? What a ****ing nincompoop.
Financial Services
Naked Fines
Liz Moyer, 09.13.06, 5:00 PM ET
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JPMorgan Chase (nyse: JPM - news - people ) has become the fifth bank to be censured and fined by the NYSE's regulatory division for violations of trading rules meant to curb abusive short-selling.
The New York bank agreed to pay $400,000, without admitting or denying guilt. NYSE Regulation said Tuesday that JPMorgan violated numerous rules related to its handling of stock short-sales, a strategy in which the trader is supposed to borrow the shares, or at least find a broker who says he has them and is willing to lend them, before he makes the trade.
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JPMorgan's fine looks miniscule compared to its $160 billion market capitalization. Through June, the bank had reported $1.7 billion in revenue from equity markets activities. A bank spokesman had no comment Tuesday.
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The Depository Trust & Clearing Corp., the New York clearing house that is owned by the big brokerage houses and whose mission is to settle and clear the lion's share of the daily stock transactions that occur in the markets, says it has no power to force brokers to fix the trades either, a fact that also frustrates critics of the current system.
"We don’t have any power or legal authority to regulate or stop short-selling, naked or otherwise," the DTCC says on its Web site. "We also have no power to force member firms to close out or resolve fails to deliver."
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A Canadian brokerage firm also complained to the SEC about its experience trying to settle its purchases of shares in Overstock.com. The broker, Research Capital of Toronto, says it tried to buy shares of Overstock to satisfy customer orders but has never received the actual shares it bought, even after 39 attempts to force the brokers who sold it the stock to produce the shares.
Research Capital says this has been going on since February 2006. "The failed deliver has simply been replaced with another delivery commitment which also fails," the brokerage says.
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Anyone want some Mona Lisa? I've got some Mona Lisa for sale...(\__/)
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(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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Thank you for demonstrating my point, nye. They suffered a 400k fine while holding hundreds of billions in assets because....99.5ish percent of shorts get covered.
12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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$1.7 MMM in revenue.
$400K is what they tip the valet.(\__/)
(='.'=)
(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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Yes, that's what I said: the fines are chump change BECAUSE THERE'S NO SIGNIFICANT MALFEASANCE OCCURRING
12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Why is the amount of the fine being in proportion to the crime assumed?
Governments and regulators are notorious for being out of step with the seriousness of situations with the amounts they collect as fines for commercial shenanigans.
Companies wiped out by predatory trading practices enabled by fraud are not significant? Grandma's shares in RetireCo being halved in value, or worse, by couterfeiting is of no consequence?(\__/)
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(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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In most commercial activities, selling something to which you do not hold title leads to a quick trip to a crowbar hotel.
Why is Wall Street exempt for shares in public companies?(\__/)
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(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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Companies wiped out by predatory trading practices enabled by fraud are not significant?
LOL at you for buying this claptrap12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Are you really surprised?KH FOR OWNER!
ASHER FOR CEO!!
GUYNEMER FOR OT MOD!!!Comment
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Originally posted by KrazyHorse View Post
BS and LB left rather impressive holes.(\__/)
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(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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