>Today, Verisign is the single most profitable company in the stock market, a great example of an economic termite
This is just blatantly false. VeriSign is in fact the 1215th most profitable company in the stock market [1]. By operating margin, it's 155th [2]. I find it hard to give an article much credit when I can't even get past the introduction without having to comb through citationless false/misleading statements.
Verisign has a profit of around $1B with around 1k employees.
Ingersoll Rand has around 18k employees. SBI holdings has around 19k. Beiersdorf has around 21k.
I don't know what the author was thinking or why it was phrased that way, but Verisign seems vastly more profitable per employee than others on the list. Also, I have no idea why they even need ~1k employees.
Tbf, this is page 13 of the list. If you go to the first page, Saudi Aramco made $230B with 73k employees according to their website. This is still ~3x as much profits/employee as VeriSign. FAANGs are pretty comparable as well. It's definitely a very profitable company _per employee_, but I fail to find a metric where Verisign can be described as the most profitable public company
This is a terribly misinformed take. If you throw enough resources at Python then sure, you can probably get adequate throughput. The problem is that in finance a lot of problems require you to think about latency, which is a total non-starter for Python
It's not clear which company you're referring to, but
- Instagram was at one point a startup. It's common for startups to write in a scripting language to optimize for speed of adding features. Then if you grow or get acquired, the scripting language often eventually gets replaced by a language more optimized for maintenance cost, safety, and/or speed.
- Data scientists often only really know scripting languages, and at any rate scripting languages are useful for prototyping algorithms that need to change daily. Hence a lot of hedge funds use Python. For code that is stable and really matters for performance purposes, it's common for funds to use C/C++ or even FPGAs.
I have no doubts that we are able to handle our requirements with python, but if there's a better way, does it not make sense to investigate?
A skilled carpenter can undoubtedly use a hammer instead of a screwdriver. This doesn't mean that I should insist they use a hammer when a screwdriver would do a better job.
I believe they’re referring to the hedge fund. Lower latency requirement is a confusing way of phrasing it as lower latency is a higher bar. But generally most hedge funds do not need to operate at the speed Instagram does.
Well they only publish trades ~30 days later. There's no real chance of front-running a politician and for all you know they could've closed their position before the 30 day period ended. Plus, if people follow them into the trade (i.e. people buy because Pelosi bought) that only moves the price in the politician's favor. It's not like politicians are running crazy strategies that you can figure out from their trades, so I can't really imagine it creating any incentive to hide trades
Let's say we have `a, b, d : 0` and `c : 999`. Then `a := b :>> c := d` according to your rule is well-typed and has a security level `999`.
Now let's say I have a conditional expression `private : 999`.
The following program typechecks according to the rest of the restrictions. In particular, `999` from `private` is less than or equal to the `999` from the sequenced command.
ITE private $
a := b :>>
c := d
But we just leaked data because if the value of `a` (which we can observe) is not `b`, then we know that `private` was 0 (aka. false). This should never happen because `a` is public and `private` is private.
The intuition here is that the lower the security level a command has the more public the conditional has to be. Otherwise, private data would *influence* public data which we can then observe to deduce something about the private data.
> it seems like you could leak info by just assigning two variables, where one is always public.
I didn't quite follow this bit. But if you elaborate, I'm happy to discuss.
I think maybe the key idea I was missing here is that the type of a variable is not always the same as the type of the scope it was defined in? If I'm understanding correctly, there's an implicit rule that's missing:
a : la b : lb a := b
--------------------------
a : lb
The only way I can see that being possible is if you got a stock option and survived long enough for it to vest.
But that's extremely high risk to take a 30-50k pay cut and move from highly affordable Michigan to Cali. All to bet it on stocks.
Source- 2017 recruiter was offering 80k, I was making 120k(40hr/week). Bonus points for the recruiter harassing me multiple times about "not changing the world" until I finally told him that I need to hang up.
As an American o had the exact opposite impression -- every European company I've applied to has requested one. Interesting to see that it was just an outlier experience (and I suspect your experience was the same)
I suspect that removing that functionality would take more work than can be accomplished in 1 day, which is why they temporarily suspended it and why they're adding "limited buys" tomorrow
That connection is like 3 degrees of separation at best, though. Robinhood sells order flow to a number of market makers, one of which is Citadel Securities [1]. Citadel Securities is part of the Citadel group, which consists of a hedge fund (Citadel LLC) and a market making firm (Citadel Securities LLC) [2]. While both companies are owned by Ken Griffin and share many resources, they are split by a "Chinese Wall" [3] to prevent any conflict of interest between both sides of the firm. They also have different CEOs, management, employees, infrastructure, etc. as a result of this. Now, Citadel (the hedge fund) has invested $2 billion into Melvin Capital, which is one of the firms central to the whole issue [4]. Yet Melvin Capital has already closed its position in GME [5], which means that they no longer have a vested interest in the performance of GME.
There are several glaring problems with the theory that Citadel is pushing for Robinhood to ban buying GME for financial motives:
1. Robinhood has NO relationship with Citadel LLC
2. Everybody knows about the theoretical conflict of interest between Citadel/Citadel Securities so it is incredibly unlikely that Citadel Securities would risk doing anything to help Citadel in such a high profile scenario (i.e. the SEC/FINRA would be able to find out this kind of thing very quickly and very easily)
3. Citadel has no financial motive to stop trading of GME, because Melvin Capital has no financial motive to stop trading of GME
4. If it was as simple as trying to profit off of GME going down, why would they bother halting trades on other securities (AMC, BB, NOK, BBBY, etc.)?
This article does a really good job at explaining the situation (much better than I can do) [6]
Since the claim that they closed their position in itself would potentially influence the market to their benefit, I don't see a reason to trust their statement.
Either way, it would be illegal to say that they closed their position for the sake of influencing the market. The SEC really doesn't play around with that type of thing in such a high profile case
Because they risk running of being short squeezed in those stocks as well? Last time I check, big money isn't exactly throwing itself at airlines, mobile areas other than Android or iOS, and cinemas, even though two of those are bound to pick up later this year once covid is over and Black Berry is in talks with Baidu, which you can't ignore.
The big guys know all this, only they were hoping to short, make a profit, and then reinvest down the road when things picked back up, making even more money. WSB just capitalized on their strategy and now that they are losing, they are throwing a fit.
This is just blatantly false. VeriSign is in fact the 1215th most profitable company in the stock market [1]. By operating margin, it's 155th [2]. I find it hard to give an article much credit when I can't even get past the introduction without having to comb through citationless false/misleading statements.
[1] https://companiesmarketcap.com/most-profitable-companies/pag...
[2] https://companiesmarketcap.com/top-companies-by-operating-ma...