眾所周知，美國花街是個非常exclusive的圈子。Jane Street如今如日中天，但是其實很多人並不了解公司是怎麽起家，內部結構等等等等。這個對於動不動就講百年傳承的地方，應該是個異類。然後我就查了一查，發現了FT的一篇文章。才發現，原來有此疑惑的不止我一個人。
https://www.ft.com/content/81811f27-4a8f-4941-99b3-2762cae76542
節選一部分，給感興趣的同學們分享：
https://www.ft.com/content/81811f27-4a8f-4941-99b3-2762cae76542
“For an industry that often cultivates cinematic genesis stories, the opacity around Jane Street’s birth, ownership and even management is unusual. Sometime in early 2000, a trio of traders from Susquehanna — another big market-maker — and former IBM developer Marc Gerstein set up what would become Jane Street, initially trading mainly options and American Depositary Receipts, US-traded stocks of overseas-listed companies, on the old American Stock Exchange, or Amex. Tim Reynolds, Michael Jenkins, Mr Granieri and Mr Gerstein were soon joined by a medley of traders and coders, such as Yaron Minsky, who convinced the firm to adopt OCaml as its sole programming language. Today, Jane Street’s source code is 25m lines long, about half as much as the Large Hadron Collider uses.”
“Jane Street’s unorthodoxy goes well beyond its programming language. Mr Granieri is the only remaining founder still at the company, but there is no chief executive, hierarchy or even a clear management committee. Instead, Jane Street almost resembles an anarchist commune, informally led by a group of 30 or 40 senior executives. A smattering of titles have been reluctantly adopted in recent years, but internally they are little used and people rotate around the firm to keep things fresh. Few leave.”
所以看來，Jane Street的崛起和ETF指數基金的興起息息相關。不懂這些沒有關係，諸位的養老錢都在裏頭呐。這些年美國金融市場，事實是主動管理基金根本幹不過被動指數基金。最印象深刻的就是巴菲特大概十幾年前和諸位基金經理的十年賭約 （大概意思吧，具體記不清了懶得查。：））。結果就是對衝基金經理大敗而告終。現在買指數基金已經深入人心。咱壇子裏釣魚的同學時不時也會提起。美國人民應該是已經完全被洗腦了。少數不服的文學城大千壇子有一些，經常褲衩都給輸沒了。。。
但是，大家得記住，ETF是一種衍生產品。衍生產品在美國股市搞出的大事情最近的一起就是2008的次貸危機了。大空頭Michael Burry曾經提醒過這種ETF的係統性風險。他基本上好幾年也是在推特上被嘲被封了（有些涉及政治，咱就不提了）。記得電影大空頭裏大概有這麽一句話 "I may have been early but I am not wrong."
不曉得為啥，這個Jane Street就讓我聯想到Long Term Capital Management LTCM - 那一幫諾獎獲得者超級天才搞起來的對衝基金。
洋洋灑灑一長篇，大家就當笑話一看。There is nothing new on Wall Street. - 花街本無新鮮事 - 偉大的投機家Livermore利佛摩爾曾經說的。
