Heard on the Street: Quantitative Questions from Wall Street Job Interviews

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He has previously written commentary on a wide range of companies for Heard on the Street, including airlines, real estate companies and luxury goods makers.

Equity ETFs are often supported by a plethora of market-makers and APs, but bond ETFs are more specialised, with a narrower club dominating activity. Some analysts and investors have long fretted what would happen if an accident were to befall one of the bigger players. “If you think the fixed income ETF market is systemically important, then Jane Street is systemically important,” says the one-time rival. In practice, many bond ETFs traded almost like traditional closed-end funds, the Bank of Canada concluded in a postmortem published in December. Stephen Wilmot is an editor of The Wall Street Journal's Heard on the Street column, based in London. In addition to editing, he writes columns about car makers, often focused on the impact of electric vehicles on automotive strategy and on the case for investing in companies like General Motors, Tesla and Volkswagen. The revised 24th edition contains 242 quantitative questions collected from actual job interviews in investment banking, investment management, and options trading. The interviewers use the same questions year-after-year, and here they are with detailed solutions! This edition also includes 267 non-quantitative actual interview questions, giving a total of more than 500 actual finance job interview questions. These results suggest that market liquidity conditions were resilient in the fixed income ETF market throughout the crisis. Moreover, the results suggest that fixed income ETF prices continued to provide a real-time view of the value of the underlying bonds during the crisis,” BoC said. “In contrast, the net asset value of fixed income ETFs with less liquid holdings provided only a lagged indication of their ‘true’ value due to poor bond trading activity.” Fed thumbs-upOne way for American banks to offset the pressure coming from rising deposit costs would be to boost business: More loans, even if earning less individually, could still lead to overall revenue growth. Advance Auto Parts stomped on the gas pedal and, instead of accelerating, flooded the engine. Since former PepsiCo executive Tom Greco took over in April 2016, and especially the past few years, the retailer has been notable for struggling in a hot retail category. Its shares have lagged behind rivals O’Reilly Automotive and AutoZone by 300 and 270 percentage points, respectively, and have shed more than half of their value during his tenure. While almost every trading desk enjoyed a trading bonanza in 2020, Jane Street’s first-half revenues were equivalent to one-seventh of the combined fixed income, commodities and currency trading revenues of all the world’s biggest banks over the same period, according to research group Coalition. It was more than twice the reported earnings of Citadel Securities, the formidable market-maker owned by hedge fund magnate Ken Griffin. This document was uploaded by our user. The uploader already confirmed that they had the permission to publish Banks of all sizes are more reluctant to lend, with overall loan growth lagging far behind the long-term average pace. Photo: Clarissa Bonet for The Wall Street Journal

A year ago, the world seemed oblivious to signs that a novel virus outbreak in China was a serious, global threat. But one of Wall Street’s biggest but most secretive money machines saw the debacle coming and battened down the hatches.We think of ourselves as mainly built for crises,” says Rob Granieri, one of the company’s founders. Nonetheless, Mr Granieri insists there is little triumphalism at Jane Street. “I still walk in every day thinking that we’re still struggling to survive,” he admits. Jane Street traders in New York offices. The company’s forte is lubricating trading in exchange traded funds and other markets Liquidity warning The reason Jane Street has been able to seize such a big role in bond ETF trading is that it straddles the approach of high-speed, algorithm-powered trading firms like Virtu or Jump Trading and the human bond traders that still dominate Wall Street trading desks. He previously wrote Ahead of the Tape for the Journal and the Lex column for the Financial Times. He was an analyst and later director of Emerging Europe, Middle East and Africa Equity Research at Credit Suisse. This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by It’s that time of year again: alternate-side winter parking regulations begin Nov. 15. The object is to have residents park in a way that allows the Department of Public Works to clear each side of the street from snow and slush during winter. The regulation calls for all cars to be parked on the correct side of the street from midnight to 5 p.m. as indicated by building numbers in relation to the calendar days. For example, odd-numbered calendar days call for parking on odd sides of the street and even-numbered calendar days call for parking on even numbered sides of the street. The transition period to move your vehicle is from 5 p.m. to 11:59 p.m. No parking is allowed downtown from 1 a.m. through 6:59 a.m.