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518 points bwfan123 | 23 comments | | HN request time: 2.176s | source | bottom
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cs702 ◴[] No.44483909[source]
According to Indian regulators, every trading day Jane Street would:

1) buy large volumes of stocks and/or stock futures that are part of an index tracking India’s banking sector, early in the day,

2) subsequently place large options trades, betting that the index would decline or volatility would spike later in the day, and

3) later in the day, cash out of the large long positions, dragging the index lower, making far more money on the options trades than on the long positions.

Jane Street can and likely will claim the firm was only arbitraging away pricing inefficiencies, nothing more, nothing less. It was just business as usual, etc., etc.

However, given the scale of the operation, Jane Street's actions sure look like textbook market manipulation. Calling it like I see it.

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Workaccount2 ◴[] No.44486444[source]
And this is what some of the brightest minds in the country are being harvested to develop. One of the biggest ongoing travesties.
replies(8): >>44486610 #>>44486961 #>>44486970 #>>44486997 #>>44487361 #>>44488096 #>>44489149 #>>44489896 #
thierrydamiba ◴[] No.44486970[source]
Cash rules everything around me has been the slogan for this generation. Why wouldn’t they chase the biggest dollar?
replies(5): >>44487004 #>>44487024 #>>44487690 #>>44487990 #>>44489761 #
1. Avicebron ◴[] No.44487004[source]
By this generation please clarify you mean the ones that started this campaign in the 70s, not the subsequent lost generations of people who can barely envision owning a home with a graduate degree in engineering
replies(2): >>44487657 #>>44489865 #
2. MichaelOldfield ◴[] No.44487657[source]
Come on. How can you not be able to buy a house with an engineering degree? It's one of the best degrees out there.

Define buying a house.

replies(2): >>44488354 #>>44488691 #
3. nine_k ◴[] No.44488354[source]
For instance, buying a house in Bay Area. Realty around NYC is not very affordable, too. But such places is where the engineering jobs are.
replies(1): >>44488384 #
4. lupusreal ◴[] No.44488384{3}[source]
If you get a real engineering degree instead of computer science slop, then your options for where to live and work (without relying on WFH trends going the right way for you) open up substantially.
replies(2): >>44488502 #>>44492714 #
5. MichaelOldfield ◴[] No.44488502{4}[source]
a real computer science degree from a good school is a real engineering degree. And you can do a lot of things with it. Pivot quickly.

an "information technology" degree that teaches React and stuff is not engineering.

This is the last website I would imagine people complaining they can't buy a house.

replies(2): >>44488525 #>>44491217 #
6. lupusreal ◴[] No.44488525{5}[source]
> an "information technology" degree that teaches React and stuff is not engineering.

Lol, is that really what you think I meant by real engineering? You have tunnel vision for computer tech.

replies(1): >>44492607 #
7. ace32229 ◴[] No.44488691[source]
Here in the UK:

Average mechanical engineer salary (mid-career) = £45k Max mortgage based on salary = ~£200k Average house price = ~£292k

-> Most people with an engineering degree cannot buy a house

replies(3): >>44488889 #>>44491408 #>>44492628 #
8. wuiheerfoj ◴[] No.44488889{3}[source]
Most people with a mechanical engineering degree cannot buy an _average_ house - not quite the same
replies(1): >>44489074 #
9. Urahandystar ◴[] No.44489074{4}[source]
Extrapolating your answer, Most mechanical engineering firms are not in the same areas as the cheap houses. So on your point, most mechanical engineers cannot buy a house that they can live in and get to work.
10. mistrial9 ◴[] No.44489865[source]
here in the coastal West US, a mid-career policeman does not make enough money to buy a house and have children. A credentialed school teacher does not make enough money to pay RENT in many desirable places, and nowhere near enough to have children of their own and buy a house.
replies(1): >>44491214 #
11. datatrashfire ◴[] No.44491214[source]
Major city police are typically some of the highest paid public employees of any area. Often with a more generous pension tier than what is given to other public employees. Ie starting pay for SFPD is $115k-$164k https://www.joinsfpd.com/entry-level-program
replies(2): >>44491550 #>>44492148 #
12. vonneumannstan ◴[] No.44491217{5}[source]
>This is the last website I would imagine people complaining they can't buy a house.

Even Senior+ level SWEs at FAANG's in Silicon Valley have trouble buying homes there. The costs are absurd.

replies(1): >>44492571 #
13. ralferoo ◴[] No.44491408{3}[source]
There are several counter arguments here.

Most people with an engineering degree are probably in a relationship, so they don't need to buy a house on a single salary.

There are plenty of houses for sale below the average price, just as there are plenty above.

Buying isn't necessarily the best option anyway. House price returns in the UK are somewhat below stock market returns, so as a pure investment it doesn't make sense. Unfortunately, we have the narrative in the UK that we should aspire to own houses, but that doesn't mean it's necessarily correct!

replies(1): >>44498095 #
14. Atotalnoob ◴[] No.44491550{3}[source]
164k isn’t enough to buy a home in SF.
replies(1): >>44492130 #
15. BobaFloutist ◴[] No.44492130{4}[source]
starting pay.

Also, it's 164k a year, not ever. So whether or not it can buy a home in SF kind of depends on how long and how fast you save.

16. mistrial9 ◴[] No.44492148{3}[source]
you cited the top of the range, in the highest paying city in the West.. its not enough to buy a house there.
17. MichaelOldfield ◴[] No.44492571{6}[source]
I guarantee you, it's harder in 90% of places in the world (accounting for buying power/price of real estate). You guys don't understand our privilege.

You can buy an f'ing house. In places like Ukraine people make $100/month and apartments are $50k(and I'm talking before the war). There, it's LITERALLY impossible.

What people here are describing is that things should be better, and I agree, but words matter.

replies(1): >>44493402 #
18. MichaelOldfield ◴[] No.44492607{6}[source]
i don't know cause there's a ton of nonsense here so explain what you meant. and also what not being able to buy a house means.
19. MichaelOldfield ◴[] No.44492628{3}[source]
That means you can buy a house a little below average. With a spouse straight up can.
20. MrMorden ◴[] No.44492714{4}[source]
CS is a real degree, but it's more math than engineering. CS and engineering have nothing in common beyond math and physics prerequisites.
21. nine_k ◴[] No.44493402{7}[source]
Google tells us:

In 2021, the median annual salary for software engineers in Ukraine ranged from $30,000 to $48,175, depending on location and experience. Some specific figures include $30,000 in Kyiv, $29,000 in Lviv, and $24,000 in Kharkiv. Remote software engineers in Ukraine had a median salary of $48,175.

It's quite below the EU median, but definitely not $100 a day.

BTW $100 a day is $12.50 a hour, which is more than the federal minimum wage in the US ($7.50 or so), and only $4 below California's minimum wage, $16.50.

22. Peritract ◴[] No.44498095{4}[source]
> Most people with an engineering degree are probably in a relationship

This doesn't feel like a valid assumption.

replies(1): >>44498418 #
23. ralferoo ◴[] No.44498418{5}[source]
Over half the UK adult population is married. According to the ONS, 61% of the population aged 16 or above is living with a partner. [1]

Unless the demographics of those with engineering degrees is significantly skewed towards singles, this feels like a very valid assumption. Of course, you might have access to better statistics by profession.

[1] https://www.ons.gov.uk/peoplepopulationandcommunity/populati...