Menu
Sign In Search Podcasts Libraries Charts People & Topics Add Podcast API Blog Pricing

Ian Dunning

๐Ÿ‘ค Speaker
301 total appearances

Appearances Over Time

Podcast Appearances

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

And that gives you some confidence.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

But it might be illusory because it's a very, very complex object.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

And if you're only taking slices through it to understand aspects of it, we had this emergent phenomenon we saw where it felt like the model kind of understood meme stocks from first principles.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

Like quantum stocks and crypto stocks being kind of adjacent in stock space.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

And of course, from a fundamentals perspective, this has no meaning to it.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

But we looked at the model in a certain lens and it clearly felt like they knew they were connected.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

There were some other actual companies that I probably won't name because it feels like it's bad form.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

But, you know, WallStreetBets favorites, I guess.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

And they were near the cluster too.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

And this was just one little window.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

But there were other slices we tried to take, which just didn't make sense to us.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

But again, it's like, who am I to say?

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

Who are you to override the model?

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

Who am I to say?

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

They're there.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

One thing for us, though, is that when we do have this magical model, it is in a lot of safety around it.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

Because we're doing this higher frequency trading.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

We're trading positions back and forth.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

There's a lot of risk checks that are fully automated and things.

Odd Lots
Inside Hudson River Trading's Blistering Token Burn

I don't know how you generalize this logic to long-term discretionary trading, where the idea of risk checking and that kind of layer of defense around it, it's not so obvious to me how you apply that.