I’m getting a lot of nasty subtweets from people re coronavirus. Claws are out even from “friends.” Wild as I’ve played it pretty straight. Learning that most don’t understand fat tail risk. The market has been too good to people for too long. Mushy brains.
University campuses are closing because of the virus. What happens when investment banks start closing their trading floors to reduce community spread among traders? Fat tail risk takes many forms that people aren't thinking through very clearly.
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We shall see who had contingency plans and who doesn't... High frequency trading seems harder to do from home on a 20 megabit per second line, at least.
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That will be great. Hopefully the banks will all close the trading floors tomorrow. Every day counts. What happens is that it can save lives and reduce the spread and therefor reduce the shock to hospitals and gives more time for medical services and people to prepare.
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Telecommute for traders?
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Very interesting take
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Can't they trade from home?
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The investment bankers that I know personally have already set up Plan A/B teams to handle their dealings with the virus.
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Bankers love $$$. Lets not forget how quickly they re-set up shop after 9/11.
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It has already happened at my firm (big bank). We’ve split staff, with no social contact after hours.
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