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Does anyone know what other options trading firms have internships aside from DRW, Simplex, and Wolverine? I've applied to all three, had an interview with one but didn't really shine. Also any comments on the book "Heart on the street" which has quantitative questions from interviews? I...

I'd like to get some data on how the average trader's returns are distributed because all of the college-is-for-sheep crowd seem to imply that trading is like drawing a salary from the markets when in reality I'm sure it is often a feast-or-famine deal. I'll try and do some reasoning about...

Why not buy a REIT? It sounds like an OK idea if you actually become a property manager and realize it will become basically a part-time job. Property management firms will take a bunch of the income and leave you with all of the risk.

Try re-thinking this one but consider that you can weigh more than 2 balls at a time.

Are the questions like "What's 92 times 34?" to measure how many registers you have in your brain or something? I think I do OK with those. Now, the logic and probability questions.. I can't say I nailed any of them though I've worked through them with interviewer help. I'm not sure if...

Yeah but since they are used to filter out 'retards' I wonder what kind of questions there are to filter out all but the best? :D How long is it OK to work on your answer to these things - 10 seconds? Do you need to know immediately? Is it OK if it takes awhile as long as I am showing that...

I would think the spreads on options would make them more difficult for pairs trading. Also there are more factors to consider than if you are doing some kind of statarb on stock prices - like how changes in the greeks effect prices. An example trade might help us make a closer examination.

Is this for full-time or internship? I'm applying to these kinds of places for internships when they have them. I'm reasonably good with numbers but I have a feeling there could be some scary math in these interviews.

Serious quesiton: Do you have a need for an intern this summer? I have a strong background as a programmer and I'm studying finance in an MBA program (hence the internship search). Importantly, I work hard and follow directions!

Gold would be useful for exchange in the doomsday scenario. How are you going to haul around a bunch of cans of tuna - and try to convince someone who doesn't want tuna to trade with you? I think guns and ammo might be the first priority - then at least enough gold that you could smuggle...

Is assent offering haircut based margins for options? What account minimum/volume are they looking for? Thanks.

I essentially dropped out of college my first attempt because I was daytrading OEX options (this was in '95) and I wasn't making it to class. Boy was I glued to my screen (I got tick-by-tick data on an ANSI terminal). Up and down, up and down, It was like crack. I blew up and got a job doing...

Don't forget compounding. It's actually an 82400.5% annual return...

You can build a big similarity matrix that has the correlation between each of n stocks in the index with every other. Then, it's a matter of solving the following problem: - where ρ(i, j) is the correlation (similarity) between two stocks - where x(i, j) is binary: 1 if stock i is...

How did the 2nd one go? :D Do you know much about what deals they offer traders (through wwww.simplexleveragedtrading.com) ?

How did it go?

VTrader and Simplex are for options trading. From what I gather, second hand, they allow option trading using a risk-based haircut margin. This allows pros to structure positions while tying up less capital. I had options on the brain and focused on that in your post.

Sounds like you've done a good job at being patient and not blowing up during 11 months and 440 trades. It'd be good to look at some statistics regarding position size/value at risk and the volatility of the returns. You can probably farm that out to some number-monkey to do - but it might be...

Sometimes securities that are historically negatively correlated suddenly move together - I think that's what caused a bunch of blowups over the summer. What kind of stuff do you do to measure your risk?

I get your point - but it's not like I'm being wishy-washy about any of this. I think you're taking my "that's fine" differently than I intended. I'm not indifferent. I just can't bank on getting a top internship. Yeah - I won't settle for anything uninteresting. I'm not saying that to be...