Comment by nateburke
7 days ago
Interesting that the algorithmic finance firms are still recruiting. Perhaps they still need a pipeline of rigorous thinkers, or are unwilling to cede significant influence over P+L to llms.
7 days ago
Interesting that the algorithmic finance firms are still recruiting. Perhaps they still need a pipeline of rigorous thinkers, or are unwilling to cede significant influence over P+L to llms.
Because the market is eternal competition. If one does something that works others have to figure it out and nobody puts their ideas in open source.
How much drastic would things be if these corporations do open source it? I like to think that markets are fairly efficient so they are fighting tooth and nail for micro-percentage points which granted can be billions but usually what these companies really do is short of fraud at times which can be celebrated by finance (Jane Street frauding Indian investors)
My opinion is that they aren't worried about their competitors so much as the govt.'s patching the loopholes that they do because the only way they are a net sum positive game (in my opinion) is that they make money from the losses of the average person and that too in fraudulent manners at time.
Jane Street's $5 Billion Derivatives Scam Rocks SEBI :https://frontline.thehindu.com/columns/jane-street-sebi-scan...
In the future it will be considered one of the most unusual cultural/social decisions ever, that large financial services firms are as they are in the Western world.
I have never seen a group of people so frantically doing nothing of any value.
Typing code has never been the difficult part of quant finance.
alcohol tolerance, patience, and willingness to work 80 hours a week are probably more important.
Definitely the first two, but the latter is not particularly common at most firms. It's hard to put in the type of thought that you need when you're working that much. It's not slinging power points.
55-60 is much more common.