“If you need to buy a hundred thousand shares of something, you're not going to do that over the course of a thousand 100‑lot orders. So you go find someone to take on a big chunk... those are block trades.” — Rishi Nang

“Now, the tape moves and a whole industry spawned called statistical arbitrage. That wasn't an arbitrage at all. It was statistical right? It's probabilistic that, oh, if you see a big price move that doesn't seem explained... just bet that that price move will reverse.” — Rishi Nang