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tae kim
@firstadopter
"Key Context" Substack covering AI and chips. Reached #1# new bestseller first 24 hrs Subscribe "Be so good they can't ignore you"
Joined October 2008
10.2K Following    106.7K Followers
Reuters on Jane Street: "We generally worry most about sharp drawdowns, and buy puts that would help in those scenarios. The losses in AI stocks were relatively spread out throughout the month, so those short-term hedges provided little help," the note added." "Jane Street's capital structure allows the firm to take larger positions when providing liquidity and hold such positions through periods ​when such risks pay off." "Jane Street said it closed a significant portion of risk in ​the specific areas where the firm lost money in July, while also having pulled back on risk-taking in other strategies."
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