Friday, May 7, 2010

The Machines respond to accusations that they caused the market to bunjee jump yesterday:

"Go ahead and take us down. But you're only going to hurt yourselves. What's going to happen when you have to execute all trades manually? Guess what: You're too slow. We're going to take your money. We don't sleep. We could run this market round the clock. Sooner or later, you'll break, and have to take a nap, and then, like a quant Freddy Krueger, we're going to trade you into the dust. We don't pee. We don't take an hour or more for a lunch break. We don't demand a union. We don't retire at 50 with a pension."
and then comes my favourite part:
"WE HAVE SEX WITH MONEY UNTIL IT'S BROKEN AND WHEN WE RUN OUT OF MONEY TO HAVE SEX WITH WE'LL MAKE THE MONEY REPRODUCE UNTIL IT MAKES SHINY NEW MONEY TO HAVE SEX WITH."
Riiiiight.

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