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California is a big state. NY is a big state. However, if you job is located in a high cost area, let's say midtown Manhattan, your choices are pretty limited and the definition of "comfortable" is relative. I don't know about the guy in subject, but I can take my example since my base is very...

Actually, 160k is fairly frugal living for his location, there is nothing extravagant about his lifestyle. I suspect that both you and Money Trust have more discretionary spending ability then this dude (or myself, if you only count my base salary)

You'd also be trading the most efficient options market on earth, so probability of figuring out something clever is zero.

Waiting - yes. Can they? Not so sure. Depending on his exact role and who else is pissed off, they might have an exodus on their hands that would be hard to stop.

There is nothing ludicrous about his lifestyle - my base is about the same and I spend all of it. If you want a reasonable quality of life, the exchange rate between Manhattan and say Columbus, OH is probably 4:1. A highly recomended read by Andrew Tobias - do "look inside the book" and read a...

Yes, Fabrice, sorry. There are some crucial differences between the SAC+Martoma case and GS+Tourre case.

Yeah, there is no question there - the guy did take the code. This said, it's upsetting how GS stacks the odds against the little guy, be it in this case or let's say in case of Guillem Torre (who took the fall for them).

Regardless of what exactly the reason for dismissal of the original case, the fact is that got tried for the same crime twice (first as federal and then as a state crime). Unless new evidence has been unearthed, it feels like GS got themselves a way to get around the double jeopardy clause. PS...

Do we now? LOL

I would be very surpised if the dude in question does not land somewhere within the first 20 min he's out the door (and, since it was an involuntary dismissal, he will not be hit with a non-compete). Apparently, it was reinstated (GS has really long hands, as you could imagine)...

When I was living in London some 10 years ago, I was synthetically single and had a roomie who was a sou chef. So apparently, most restaurants provide their workers with knives (usually a brand like Forschner) that are maintained by the kitchen, and every now and then, are shipped out to a...

If the market maker hedges delta (which, unless this thing is super-active or crazy wide, they do), there is. It does, obviously, sound a little gamble-like despite all the appropriate regulatory fixings. My main gripes are the width of the market (need to check that out) and the binary nature...

Nothing is wrong with that if they allow competition among market makers. When you trade a digital OTC IRL, the dealer is also trading against you, but you can ask 5 dealers for a price. Just for educational purposes, market makers are replicating binary bets as tight call/put spreads and...

What other half? If you let people in that will add value, you will reap the benefits. It all boils down to incentives - if immigrants need to work hard to make it, you'll work hard. If we incentivize immigrants to assimilate, they will complain but assimilate.

Unlike taxation, immigration is very multifaceted - I am an immigrant and I am pretty certain that I pay more taxes then you do (statistically certain). Hell, Mohammed ElErian and Sergei Brin are immigrants too. If you look at an average hedge fund, bank trading floor or a board of a hot new...

Personally, I think countries should devise market-based solutions to the immigration problem. Take everyone who wants to come, background check then super-thoroughly and make them pay for a residence permit. If they don't have cash, let them take out a mortgage in that amount at a reasonable...

Out of all people here, I am probably the lowest on the list of being possibly scammed :)

I am pretty sure the MM is delta hedging these, at these BO spreads they would be making money. Plus, the actual vol exposure for a digital is very small.

You do realize that there is no such thing as "selling" a binary bet? You either betting that at time T price is over or under, unlike an option where you actually have some convexity exposure. If the spreads are indeed 15% wide, it is a predatory business.

Yeah, my barber is from the Central Asia (one of the 'stans) and he rants about immigrants all the time. It's a part of the package :)