The most expensive bug in history...

The development team gets a call by CEO that they need to implement a new feature in SMARS (their system) to take trades from dark pools as well in addition to the regulated markets.The development team had 30 days to comply with the new rule. Although the CEO himself was not in favour of this new feature he had to anyway go for it as it meant retaining existing business.The release date for the new feature in the system was set to 9:30 AM EST on August 1, 2012The plan was to deploy the new system behind a feature flag the week before the deadline; when the market opened on August 1, they'd simply turn it on.At 9:30 AM EST on August 1, the Knight developers did just that: they enabled the feature flag, and SMARS began to route orders through to the RLP—they were live!But something was wrong. Their charts showed anomalous spikes in trading activity on the open markets. At 9:34 AM, the NYSE called  Knight was executing a lot of trades—so many, in fact, that trading volumes for the e…

Why was Lehman dumped and AIG Saved during 2008?

Lehman came back from a near death experience during 1998 LTCM Collapse. They then got into risk management and got their acts together. However slowly all of that again started to fade and due to management arrogance and hubris they defied risk. This led to their collapse in 2008. AIG was more of a systemic entity backing a lot of collateral from other banks. Being more of a systemic risk it was saved.

Physics from Walter Lewin

It makes me sad to see that just like Vishwamitra, Walter also fell prey to his own desires that caused his doom.Anyways he was a teacher that made physics simple and I still remember his lectures that have taught me so muchWalter Lewin's Lectures on Physics

Is Cash Really King?

"The one thing I will tell you is the worst investment you can have is cash. Everybody is talking about cash being king and all that sort of thing. Cash is going to become worthless over time. But good businesses are going to become worth more over time."The above words are from the Oracle of Omaha. However, currently he is sitting on a boatload of cash around 125 Billion. Does that give any hint to the investors?

Machine Programming

Imagine dictating a problem statement to a computer and software gets generated that provides a solution. That is what machine programming is all about. Although around since the 1950s, it is now at an critical juncture.

What will be impact of US China Trade Situation

U.S. Debt Will Grow: Foreigners will not be able to buy much of US issued debt (Treasuries and Bonds) so US investors may be forced to buy it.Foreign Capital Inflows Will Fall: Foreigners will have less dollars to put back in the US economy.Cost May be high: Tariffs will increase the costs.Slowdown and Uncertainty : Economy may slow due to people slowing spendingPolitics will be Key : Any uneasy political dialog will hurt the entire situation.

5G Rolllout