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518 points bwfan123 | 7 comments | | HN request time: 0.876s | 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.
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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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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
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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.

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1. 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

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2. wuiheerfoj ◴[] No.44488889[source]
Most people with a mechanical engineering degree cannot buy an _average_ house - not quite the same
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3. Urahandystar ◴[] No.44489074[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.
4. ralferoo ◴[] No.44491408[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!

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5. MichaelOldfield ◴[] No.44492628[source]
That means you can buy a house a little below average. With a spouse straight up can.
6. Peritract ◴[] No.44498095[source]
> Most people with an engineering degree are probably in a relationship

This doesn't feel like a valid assumption.

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7. ralferoo ◴[] No.44498418{3}[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...