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Old 12-04-2012, 04:23 PM   #42126
Zimmer4141
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Re: SE FAQ, Liveblog and Holiday Discussion

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Originally Posted by TheDean1 View Post
I've heard of DRW. I used to work for Jane Street Capital and am considering getting back into trading at some point, if you PM me the name I'll probably go ahead and drop my resume for funsies.

What sort of hours do you work?
Right now I work 6AM-4:15PM Monday-Friday.

When I go to overnights I will work from around 11:45PM-8AM Sunday night through Friday morning.
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Old 12-04-2012, 04:25 PM   #42127
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Re: SE FAQ, Liveblog and Holiday Discussion

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Originally Posted by yeotaJMU View Post
What can you tell me about FCOJ
That it exists, and the futures go up when hurricanes happen.

That's about the extent of my knowledge about orange juice futures.

Kind of funny trading story: http://en.wikipedia.org/wiki/Onion_Futures_Act
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Old 12-04-2012, 04:44 PM   #42128
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Re: SE FAQ, Liveblog and Holiday Discussion

It's cool reading this stuff zim, like a mini blast from the past... I was a floor options trader in the late 90's in NYC, but it was equity options.

Good times.

Last edited by Bidz; 12-04-2012 at 04:45 PM. Reason: whoa cool, same 2p2 join date
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Old 12-04-2012, 04:48 PM   #42129
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Re: SE FAQ, Liveblog and Holiday Discussion

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Nice, man. Enjoy the pit while it still exists cuz they're all dying and HFTs have overtaken the role of the local on screen business. You can make a killing as a local if they're feeding orders into the pit.
Are floor trader positions really dying off?

Zimmer, what are your long term plans if this is the case?
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Old 12-04-2012, 05:03 PM   #42130
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Re: SE FAQ, Liveblog and Holiday Discussion

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Are floor trader positions really dying off?

Zimmer, what are your long term plans if this is the case?
They're kind of slowly dying off. There really isn't much High-Frequency stuff in options trading because it is a lot more complex so you can't do a ton by just setting it to automated trading. Some of it in the CME Options trading is just due to low volumes right now which I think will pick up eventually, but I can't guarantee that.

I think the downfalls of HFT outweigh the benefits and I think it needs to be highly regulated. The systemic risks it introduces are a huge factor, especially as every market seems to be more correlated than ever nowadays.

If there's no more jobs to be had trading then I would probably find a different line of work I guess. I wouldn't like it as I'd probably prefer at this point to just do trading until I retire. Wouldn't be anything new, I was playing poker professionally until Black Friday, then got a sales job in financial planning, then found my current job. I feel like as long as I don't get fired with cause or anything like that, then I should be able to find a different job.
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Old 12-04-2012, 05:25 PM   #42131
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Re: SE FAQ, Liveblog and Holiday Discussion

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Old 12-04-2012, 05:28 PM   #42132
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Re: SE FAQ, Liveblog and Holiday Discussion

cats > dogs ainec

edit: best part of the vid is there are multiple times where the cat looks like he's falling asleep
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Old 12-04-2012, 05:29 PM   #42133
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cats > dogs ainec
trololol
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Old 12-04-2012, 05:30 PM   #42134
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Re: SE FAQ, Liveblog and Holiday Discussion

He's a regular Neil Purrt
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Old 12-04-2012, 05:50 PM   #42135
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Re: SE FAQ, Liveblog and Holiday Discussion

That cat is awesome.
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Old 12-04-2012, 06:26 PM   #42136
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Re: SE FAQ, Liveblog and Holiday Discussion

When cats don't give ****s, they do not give ****s. Like if one is lying down, first you put one pillow on them and there's no reaction, so then you put ALL the pillows and they still don't care. Cats gonna do what a cats gonna do and if that is chill, they're going to chill regardless.
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Old 12-04-2012, 07:49 PM   #42137
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Re: SE FAQ, Liveblog and Holiday Discussion

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Originally Posted by Zimmer4141 View Post
Our work is incredibly slow today, so I need something to occupy my time, let's see how this goes.

I currently work as an options trader at the Chicago Mercantile Exchange. Go ahead and AMA about the job.
What are your thoughts on the efficient market hypothesis?
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Old 12-04-2012, 07:50 PM   #42138
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Re: SE FAQ, Liveblog and Holiday Discussion

http://www.buzzfeed.com/whitneyjeffe...re-illustrated
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Old 12-04-2012, 08:29 PM   #42139
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Re: SE FAQ, Liveblog and Holiday Discussion

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What are your thoughts on the efficient market hypothesis?
I think it's a solid theory but really misses when given real world applications. Especially in the markets traded today where the value of a stock or a commodity is all dependent on events that happen and not necessarily the underlying fundamentals. I think the tendency lately from what I've seen is that the markets vastly overreact to every rumor that is released about Europe or QE3, so everybody moves quickly in one direction to try to get the jump on everybody else, so that it moves the market far more than the news should.

I think in the long run free trading markets are efficient, but in the short run there are factors other than what the price of the underlying is valued at that create inefficiencies. There are also other factors like a large buy order or sell order that can move the market but doesn't necessarily reflect an efficient pricing of the underlying.
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Old 12-04-2012, 08:43 PM   #42140
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Re: SE FAQ, Liveblog and Holiday Discussion

Please PM me the name of the firm too. There is a decent chance I interviewed with you guys.

Thoughts on prop/hedge funds vs. sell side trading?
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Old 12-04-2012, 08:45 PM   #42141
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Re: SE FAQ, Liveblog and Holiday Discussion

Do you think high-frequency traders create wealth? Do you think the rise of quants has increased the risk of systemic failure and if so what would you do about it?
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Old 12-04-2012, 10:48 PM   #42142
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Re: SE FAQ, Liveblog and Holiday Discussion

one time reddit front page with that cat video, ONE TIME
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Old 12-04-2012, 11:01 PM   #42143
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Re: SE FAQ, Liveblog and Holiday Discussion

Victoria Secret fashion show on CBS now at 10pm
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Old 12-04-2012, 11:02 PM   #42144
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Re: SE FAQ, Liveblog and Holiday Discussion

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Originally Posted by CalledDownLight View Post
Who do you think was responsible for the 2.36 million share block trade on AAPL this morning?
i assume you mean this?
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Old 12-04-2012, 11:07 PM   #42145
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Re: SE FAQ, Liveblog and Holiday Discussion

Too much talking so far. LINGERIE
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Old 12-04-2012, 11:11 PM   #42146
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Re: SE FAQ, Liveblog and Holiday Discussion

Yes sirrrrrrr

****ing gym is gonna be packed tomorrow.
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Old 12-04-2012, 11:21 PM   #42147
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Re: SE FAQ, Liveblog and Holiday Discussion

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Originally Posted by StoppedRainingMen View Post
no, I mean the 2.35 million share block of AAPL shares that traded at like 11:21:53 at 571.10 for $1.35B (if I remember the details correctly).
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Old 12-04-2012, 11:32 PM   #42148
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Re: SE FAQ, Liveblog and Holiday Discussion

im gonna party like its 3012 tonight imo
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Old 12-04-2012, 11:37 PM   #42149
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Re: SE FAQ, Liveblog and Holiday Discussion

Go drink a warm glass of milk and hit the sack biebs. **** me.
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Old 12-04-2012, 11:39 PM   #42150
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Re: SE FAQ, Liveblog and Holiday Discussion

One last thing on the costas bit, thank god SE is void of DBJ and the other "dey gunna take our guns" nuts in OOT/lolpolitics.

Every girl I know on FB/Twitter is hate watching the VS fashion show. Marvelous.
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