众所周知，美国花街是个非常exclusive的圈子。Jane Street如今如日中天，但是其实很多人并不了解公司是怎么起家，内部结构等等等等。这个对于动不动就讲百年传承的地方，应该是个异类。然后我就查了一查，发现了FT的一篇文章。才发现，原来有此疑惑的不止我一个人。
https://www.ft.com/content/81811f27-4a8f-4941-99b3-2762cae76542
节选一部分，给感兴趣的同学们分享：
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.”
所以看来，Jane Street的崛起和ETF指数基金的兴起息息相关。不懂这些没有关系，诸位的养老钱都在里头呐。这些年美国金融市场，事实是主动管理基金根本干不过被动指数基金。最印象深刻的就是巴菲特大概十几年前和诸位基金经理的十年赌约 （大概意思吧，具体记不清了懒得查。：））。结果就是对冲基金经理大败而告终。现在买指数基金已经深入人心。咱坛子里钓鱼的同学时不时也会提起。美国人民应该是已经完全被洗脑了。少数不服的文学城大千坛子有一些，经常裤衩都给输没了。。。
但是，大家得记住，ETF是一种衍生产品。衍生产品在美国股市搞出的大事情最近的一起就是2008的次贷危机了。大空头Michael Burry曾经提醒过这种ETF的系统性风险。他基本上好几年也是在推特上被嘲被封了（有些涉及政治，咱就不提了）。记得电影大空头里大概有这么一句话 "I may have been early but I am not wrong."
不晓得为啥，这个Jane Street就让我联想到Long Term Capital Management LTCM - 那一帮诺奖获得者超级天才搞起来的对冲基金。
洋洋洒洒一长篇，大家就当笑话一看。There is nothing new on Wall Street. - 花街本无新鲜事 - 伟大的投机家Livermore利佛摩尔曾经说的。
