Ken Griffin's virus plan now includes an emergency trading bunker in Florida

[Krent Birshner]

Exactly, even our own, very tiny compared to Citadel, fully automated algos require 24/5 monitoring. Granted we built redundancies to get alerted the moment something goes wrong.

Fully automated, does not mean unattended.

Very interesting folks..... automation is a valuable service these days... I’m developing a view now around how automation maybe will help trading... for example if I can develop an automatic formula that identifies which stocks will increase in value (and perhaps even which ones will decrease in value) maybe this is a service that folks would be interested in? I have some ideas in mind for developing this (and I e-mailed Microsoft to see if they would assist in this endeavor) but perhaps this is the “next big thing” curious to here thoughts folk.... thanks, Krent

 

[schizo]

Citadel is a large multi-manager hedge fund, they do everything from statistical arbitrage to fixed income RV to fundamental long-short equities. 50-people operation for the fund of that size is pretty bare bones.

Many banks and funds, including the one I am working, are running various "disaster recovery" sites. I have been to many of them and I'd hate to be stuck there for more than a few days, even if provided with hookers and blow.

PS. Nothing happens "AUTOMATICALLY", including HFT - you'd be surprised how manual labor it takes to run a low-latency trading operation.

But what is the purpose of bringing these gang of 50 to the bunker? Heck, why not just rent an island somewhere in the middle of nowhere, for crying out loud (if they were that scared)?

We have doctors and nurses who risk their lives by fighting in the front line, then we have these rich schmucks who hide in barracks to save their ass. That's shameful!!

 

[Same Lazy Element]

But what is the purpose of bringing these gang of 50 to the bunker? Heck, why not just rent an island somewhere in the middle of nowhere, for crying out loud (if they were that scared)?

The purpose is to show the investors that business continuity is ensured and even if there are zombies roaming the streets, the fund will continue to perform. In case of banks, these stupid business continuity setups are mandated by the regulators.

PS. Now, zombies probably make good investors - they are hungry and totally non-emotional

 

[schizo]

PS. Now, zombies probably make good investors - they are hungry and totally non-emotional

Yes, you do in fact come across as a zombie at times, and I'm afraid that will not change any time soon.

 

[newwurldmn]

Dude, it's a "trading bunker". I am pretty sure people are not volunteering to stay in the basement 24/7 and trade.

Well I think it’s a 5 star hotel.

But I would argue that citadel securities (this is the market making arm) is an essential business as they provide liquidity in a market that has dried up a lot.

 

[themickey]

Very interesting folks..... automation is a valuable service these days... I’m developing a view now around how automation maybe will help trading... for example if I can develop an automatic formula that identifies which stocks will increase in value (and perhaps even which ones will decrease in value) maybe this is a service that folks would be interested in? I have some ideas in mind for developing this (and I e-mailed Microsoft to see if they would assist in this endeavor) but perhaps this is the “next big thing” curious to here thoughts folk.... thanks, Krent

EliteTrader.com is a group of 99,333 financial traders that have meaningful conversations about all aspects of the business to help each other learn faster, develop new relationships, and avoid costly mistakes. Currently there are 250,814 discussion threads containing 4,369,934 posts.

There's already 99,000 traders on ET attempting that, get to the back of the line.

 

[RedDuke]

Very interesting folks..... automation is a valuable service these days... I’m developing a view now around how automation maybe will help trading... for example if I can develop an automatic formula that identifies which stocks will increase in value (and perhaps even which ones will decrease in value) maybe this is a service that folks would be interested in? I have some ideas in mind for developing this (and I e-mailed Microsoft to see if they would assist in this endeavor) but perhaps this is the “next big thing” curious to here thoughts folk.... thanks, Krent

Why Microsoft??? If you have worthty idea, find a developer here.

 

[RedDuke]

I see a need in really bad times to bail out banks, car companies, plane manuf and so on, but to allow hedge funds to lever up up to wazoo, rake in billions in good times and then run to fed crying for bail out is despicable and wrong on every level.

You miscalculated risk, you fail. It should really be this simple. No one will bail out any one here should be make wrong bet and go deep into red.

 

[Same Lazy Element]

I see a need in really bad times to bail out banks, car companies, plane manuf and so on, but to allow hedge funds to lever up up to wazoo, rake in billions in good times and then run to fed crying for bail out is despicable and wrong on every level.

You miscalculated risk, you fail. It should really be this simple. No one will bail out any one here should be make wrong bet and go deep into red.

Do you see anyone getting bailed out? A lot of funds made wrong bets and lost money. Some were able to hold onto these positions while the Fed was fixing liquidity for systemically important participants (banks). Some had to shut down. Bigger funds tend to have lower leverage simply because they don’t have the ability to deploy all capital and it came in handy in thei shitstorm

 

[RedDuke]

I have seen various news that giant HFs are also allowed to come to Fed window.