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518 points bwfan123 | 1 comments | | HN request time: 0s | source
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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.
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thierrydamiba ◴[] No.44486970[source]
Cash rules everything around me has been the slogan for this generation. Why wouldn’t they chase the biggest dollar?
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ozgrakkurt ◴[] No.44487990[source]
Because they literally don’t need to, there is so much more in life than money. Current tech culture is garbage in terms of defining success, whole social media is filled with posts defining success as working 24/7, exploiting people around you and making exorbitant amounts of money.

A hardworking and smart person in tech really doesn’t need to try hard or sacrifice much to live a comfortable life in terms of finances. Hard part is the rest of the things in life really.

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1. XajniN ◴[] No.44488034[source]
There is so much more in life only if you have money.