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Right, which means that you suffer adverse selection because they can "improve" your offer by a fraction of a cent and take it if they want to, while you and I can't do the same to a limit order on the book.

Take a look at the SECs response to question 13 at https://www.sec.gov/divisions/marketreg/subpenny612faq.htm#q13

Maybe you haven't been paying attention to the 124,000 mom's, dad's, husband's, wives, and loved ones who have died in the past 4 months? That number is steadily going up, we crossed 100,000 just 3 weeks ago! So yeah, it's about deaths, not a bunch of hand waving about viral loads and "some...

In order to qualify for in-state tuition they had to have met the same basic standard as a citizen would have to qualify for in-state tuition, generally having gone to high school for at least 3 years in the state. So no, they're not being treated "better" than U.S. citizens, just the same (I...

Well I'm gonna chalk that up as more anecdotal evidence against IQ tests, but I suppose it also makes my earlier statement somewhat meaningless since it's obviously beyond my ability to guess the results of an IQ test based on a series of conversations with someone. I guess I always equate...

What is up with these captain obvious posters in the last day with one or two posts. It seems someone is testing out a bot of some sort on ET, but to what end?

The problem with Taleb is that he is insecure enough that he has to not only advocate for a position, but then go on to spend most of his time and effort denouncing everyone else in the world as "sub-imbeciles". The truth is that literally no-one who seriously studies options assumes a normal...

Then for the love of god just go ahead and block everyone on every thread you've participated in already! Clearly everyone who's interacted with you here must be the problem, couldn't possibly be you.

If that is the case then why do we see skew/volatility smile in options prices?

While models might assume a normal distribution, it would seem no-one uses those models to actually price options because the prices don't follow a normal distribution model do they?

I don't think your IQ is below average, but nonetheless don't sweat it, i-banking jobs suck. Nothing like 80 hour weeks for a couple years to suck the life right out of you.

Why don't you start your own company to compete with your current company? Non-competes aren't enforceable in CA.

Are these staffing some kind of federal contract? I'd tend to agree from my last few years in the military that they do use the H1-B a lot (ironically). But I also tried pretty hard to get U.S. citizens with masters degrees in ops research to fill GS-12 positions and it was impossible. You just...

I'm Mid-Atlantic now so quite a bit cheaper to live than SF. They range from $120-$150k plus a $10-$20k bonus every year since we've been in business, with company paid for health care, 401k full matching, and all the rest of the benefits short of the gimmicky valley stuff, plus they've always...

If this was truly the case, then anyone can certainly renounce and become an illegal immigrant here in the U.S. themselves. Of course not a single American would even consider renouncing while planning to stay in the US in order to receive this mythical "better than citizen" treatment, it would...

I think there's perpetually a problem with people who don't build software lumping everyone in the industry together, and then telling stories that those of us who know better repeat. I have no doubt there were system operators or various IT support types making $50K a year in 2001. Some of them...

I'm with @southall on this. Maybe not gods but at least demigods if you're running a company that needs to hire software developers. I'm not sure there were many software developers only making $50k a year even in 2001 in the valley unless they were also getting a lot of equity, but those days...

IQ is necessary but not sufficient for success in many fields. I've never met someone who seems anywhere near the lower 50th percentile in IQ in i-banking, consulting, VC, or any other buy side job. Met plenty of jerks and unpleasant people, but they're all certainly above average in IQ. On the...

Look up the concept of Beta.

Another trick if you also have W-2 salary is to just have your last couple W-2 paychecks of the year go entirely to tax withholding such that it covers your estimated tax. While quarterly payments have to be made quarterly or you get hit with a penalty and interest based on the time you were...