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by bwfan123
346 days ago
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> You’ll see Jane Street will pay a fine and come out on top Maybe, but the stain on their reputation is hard to wash off. They will forever be known as a manipulator. What was a geeky ocaml wielding quant shop is now viewed as plain-old manipulating crooks with a nerdy veneer. |
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Your genius physicist hedge fund operator who "broke the game" in the investment world ended up paying $7 billion in a tax settlement [0]. There’s no algorithm—it’s all about regulations and manipulation. In the investment world, fines, "bureaucratic investments," and similar costs are just operating expenses. Guess what? Everything is a line item in a financial report.
You hire STEM researchers from Ivy League schools—why? You hire these guys, not just because they’re smart, but because they come with "back home connections" —maybe a multi-millionaire businessman for a father or a politician for an uncle. Nobody makes it to these colleges or financial institutions by merit alone. You need those connections. That’s entirely how finance works.
[0] https://www.wsj.com/articles/james-simons-robert-mercer-othe...