ciamac moallemi

professor @Columbia_Biz / research @paradigm @uniswap / stochastic control, quantitative finance, market microstructure, blockchain

[ciamac moallemi @ciamac]

The gaslighting here is astonishing. Acting President @ClaireShipman should speak for herself. As a @Columbia faculty member I do not share her values of authoritarian university governance and enforcement of ideological conformity, all to advance a racist Trump admin agenda.

[Columbia Daily Spectator @ColumbiaSpec]

Acting University President Claire Shipman, CC ’86, SIPA ’94, described Columbia’s Wednesday agreement with President Donald Trump’s administration to pay $220 million to restore funding as “in line with our values” in her first interview with Spectator.

https://t.co/pUyNkjWSUy

[Paul Graham @paulg]

I'm going to Columbia to speak to some students, and apparently you need ID and a QR code to visit the campus. They locked it down after the Gaza protests and still haven't reopened it. It's the only Ivy League university that's closed to visitors.

[Kite @kiteliudingyue]

📢 DeFi researchers: submit your work to the 6th Workshop on Decentralized Finance (DeFi'27) @IFCA_Conference, Barbados, Feb 12, 2027

Important dates (AoE):
Abstract registration: Nov 16
Full paper: Nov 23

EasyChair link coming soon
https://t.co/TeLHFxirf6

[HL Global @HLglobal_]

"if you want to auto-delever in a way that's going to minimize your future risk of equity shortfalls, then you have to focus on the accounts that are closest to insolvency, and that is going to be the most highly leveraged accounts."

@ciamac from @columbia_biz explores the optimal way to ADL on perps exchanges.

[HL Global @HLglobal_]

Auto-deleveraging is essential, and the industry standard may be broken.

@ciamac of @Columbia_Biz uses Hyperliquid’s data from October 10 to show how current ADL rules can be gamed and proposes a model with nearly 3x the risk reduction.

1:27 Why traders hate ADL
2:07 October 10 took $2B on Hyperliquid
3:16 Every exchange copy-pasted BitMEX's rule
3:37 How to game the current system
5:07 Why leverage is the right ADL priority
8:23 How leverage-based ADL can't be gamed
10:01 October 10 with 3x the protection

[ciamac moallemi @ciamac]

Really? Let’s form a committee? Needless bureaucracy is an unfortunately a @Columbia tradition. A disappointing start for the new president.

[Columbia University @Columbia]

An important update regarding campus access from President Jennifer L. Mnookin: https://t.co/EEbMaCTuGZ

[ciamac moallemi @ciamac]

Thank you @ZohranKMamdani!

[Chris Sommerfeldt @C_Sommerfeldt]

New: Mamdani’s admin is officially coming out in favor of restoring public access to Columbia University’s main campus, reversing his predecessor’s support for keeping it closed due to safety concerns over pro-Palestinian protests.

w/ @madinatoure https://t.co/E9akyVoTlY

[ciamac moallemi @ciamac]

@JeffreyLax The senate poll was of 13,000 Columbia affiliates, the majority of which do not agree with your feelings on safety. In any event I am heartened that you support opening the gates and that you are unable to provide any evidence of a risk of violence from doing so.

[ciamac moallemi @ciamac]

We're not stuck, you just haven't looked. Nobody has produced evidence of "risk of violence" — not Columbia, not its lawyers, not in any published data, not in three years. You've mistaken your own feelings for a security assessment, and the neighborhood is walking six blocks around it. You're also not speaking for campus. In the Senate's own poll, "very comfortable reopening" beat "very uncomfortable" 62 to 5.

[Jeffrey R. Lax @JeffreyLax]

We're stuck - the risk of violence is too great with a mayor who said he would refuse police even when needed to protect students and campus functioning.

[ciamac moallemi @ciamac]

the fish rots from the trustees down

[Sebastian Javadpoor @sebjavadpoor]

from my own convos with admin in the past year, every single dean wants the gates open — yet once again the will of the majority is overruled by the shadow rule of the trustees

[ciamac moallemi @ciamac]

This post, like much of the discourse around the pied-a-terre tax, is riddled with inaccuracy and demonstrates astonishing ignorance. For starters, the tax for condos is based on the DOF market value, which is a fraction of the market value.

If you really believe this logic, NYC condo prices should have collapsed. But they haven't. So the market doesn't believe this nonsense.

[Scott C. Johnston @SJohnston60]

Some math regarding the pied-a-terre tax.

If I own a $5 million condo, the tax is 6.5% - every year, forever. That's $325,000.

Prospective buyers understand this, and they 're not stupid. They price it in.

They calculate, or "capitalize," the obligations, determining the present value of all that debt.

The numbers are devastating. Using a discount rate (or "cap rate") of 6% means you knock $5.4 million off the value of the property...

...meaning you wouldn't even take the property if it was given to you for free...

...meaning the value of the condo has been reduced to less than zero from $5 million.

You've been Zohran'd.

So, a fair question to ask is, "If my $5 million condo is now worth zero, am I now exempt from the tax? And does my exemption drive the value back to $5 million, so now I'm getting taxed again?"

Does anyone understand how insane this is?

[HL Global @HLglobal_]

Can ADL be designed better? @ciamac presents a “water-filling” approach that targets the most leveraged accounts first, and shows how it could reduce substantially more exchange risk.

[Fahad Saleh @cryptoeconprof]

More #hyperliquid from CBER @NYUStern

@ciamac @Columbia_Biz explains auto-deleveraging and offers an alternative. Donghwa Shin @kenanflagler provides comments:

[ciamac moallemi @ciamac]

@haydenzadams real estate ownership and recorded transfers are public records, right? in general, it seems reasonable to be able to look up what entity owns a property. for privacy, one can purchase through an LLC.

[ciamac moallemi @ciamac]

Nice work by @Qiaoqiao2001!

[Shouqiao Wang @Qiaoqiao2001]

I solved 6 open Erdős problems in 5 days, using @OpenAI GPT-5.6 Sol.

I have a math background, but the Codex workflow I used does not require deep mathematical knowledge.

Here’s exactly how I approached it, including my prompts 🧵

[ciamac moallemi @ciamac]

new paper w/ @malleshpai @Weiye_Xi @Qiaoqiao2001

a principled approach to quantifying uncertainty in prediction markets 👇

[Mallesh Pai @malleshpai]

🚨New Paper with @Weiye_Xi , @ciamac and @Qiaoqiao2001

Here’s two different prediction markets priced at ~6.5%:
1. Will the US confirm the existence of Aliens in 2026?
2. *that* Spurs @ Knicks Game 4, ~4th quarter.

They suggest that both these events are the same probability, but intuitively these feel very different: the latter (Knicks won!) feels a lot more uncertain. But prediction markets don’t immediately give us a way to quantify it.

[ciamac moallemi @ciamac]

@malleshpai very outerboro nyc!

[ciamac moallemi @ciamac]

@malleshpai congrats!

[Designing DeFi @Designing_DeFi]

Under stress, derivatives protocols have to make hard decisions in real time:

→ How options decay
→ How leverage is reduced
→ How ADL is triggered
→ How losses are allocated
→ How solvency is restored

Full recap of the Perpetual Futures & Derivatives track at D²: https://t.co/bTP2iyW1ab

[Mark Schmidt @MarkSchmidtUBC]

I am sad to hear of the passing of Dimitri Bertsekas. This one hurts.

Dimitri had a big effect on my career, from inspiring research topics to writing one of my tenure letters.

A long thread on memories of Bertsekas and some of his works that influenced me the most.

[ciamac moallemi @ciamac]

Dimitri was both a giant and a kind man. Sad day today.

[Luke Heeney @heeney_luke]

We've lost an absolute giant today. RIP Dimitri Bertsekas. His probability and optimization books got me through my masters. Massive loss for the MIT community and the field.