Author: Arnav

Last Post on Facebook (I Promise)

(Written for a local newspaper op-ed, but rejected) More than seven thousand IPOs in the last thirty years have returned, on average, just under 18% on the first day itself. In the case of Facebook, this return was less than…

Credit Default Mop-Up (Updated Twice)

The latest on the JPMC debacle is that Ina Drew, Chief Investment Officer there is all set to resign: Executives said that within the last several months, Ms. Drew told traders at the bank’s chief investment office to execute trades…

No Shallow End

A fair amount of entities and people are flailing about trying to keep afloat in current financial markets. One response is to trade in the  growing number of dark pools. These are, essentially, private networks of traders who wish to trade without…

Expensive and Disturbing

A Goldman Sachs trader who, when leaving the company, uploaded a copy of Goldman’s high frequency trading (HFT) software to a server, after which he then downloaded it to his home computer. He was leaving to join a startup that…