• Tuesday

    • Research in irish markets, cayman funds, economic interests (not ownership interests), mutual funds and the investment company act of 1940, more.
    • (obvious, but explicit) Hard assets are tangible assets with value. Property, cars, etc. Hard lending (or hard money lending) is typically short-term, secured by hard assets, and lending by private (not bank). Most commonly used by property flippers, pledging one property as collateral to buy another.
    • (again, obvious) Market makers profit from the spread. Your order book is not just lists of user bids and asks, matched 1:1; you as the market maker are half of every match. You set the bid and ask prices (algorithmically, market-influenced), then match yours with users’ complements. That’s how you profit from the spread.
      • There’s obviously risk there in the asset losing value. The market maker is holding the whole inventory, assuming the risk, justifying the fee for profit.
      • They may provide the original stock inventory, but obviously as more people join the platform (with more stock, cash, eg), the depth of the market/liquidity grows.
      • You may forward to other markets, PFOF, auction…many different structures. NYSE is a specialist, a type of market maker.
      • A broker is different. It’s upstream. It is authorized to buy/sell securities for a user, but is not primarily responsible for creating the depth/liquidity. That’s the market maker.
    • Stochastic modeling.
      • Just like the monte carlos of SpaceX for landing. Numerically simulate all permutations of all random inputs to determine the actual probability of outcomes.
      • Can be used to calibrate an investment size. Can be used to structure a loan. Maybe difference applications in finance.
    • Mahlstedt LLC.
      • The checking account (+debitcard) was approved. The credit line (~25k) was as well. Will arrive soon. Got into online banking. Many other business services I can add later.
      • Linked everything, added to trackers, planned out early cashflow+rewards, more.