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Wait, Kelley is ranked #7? When did that happen? At least by finance research rankings, Kelley is in the 12-18 range (not in my wildest dreams would it make top 10). A friend of mine is doing her PhD in finance at Kelley, and she is worried that she won't be able to find a decent faculty job...

You don't want to do it because it is too much work, did I get that right? Unfortunately most majors that would lead to some kind of institutional trading role would require at least some background in hard majors, such as economics, math, statistics, computer science, etc. That aside...

I guess my trade is boring, definitely, running an automated system is like that. I don't know about anybody else, I hate telling people that I trade for a living, especially women. There are this type of women that attract to money like flies, and I absolutely detest that, I know far too...

I am in the "I should be better" boat, regardless of how much I am up each day, I find better trades when I review the trades I have made. I am also paranoid that what little "edge" I have will evaporate quickly, so I constantly tune my system. On the other hand, I have absolutely no fear of...

Heh, I was in the pb business for quite a while, before the explosion over the last 2-3 years. However, keep in mind that regardless of how much PB people get paid, they are still no where near the income level for HF managers, prop desk traders at ibanks, ibankers, and some structurers...

You are right that there are lot of visitors to ET (like me) that have little interest in discussing direct strategies, but would talk about objective observations about the market. I am a professional trader (members of several exchanges, including equities through NMS), so 1000 shares would...

Heh, when people come to my office, they are bored out of their skulls. Since I run a set of automated trading systems, there is really nothing to see except a few tiled information windows (P&L, exposure, positions, etc) that flashes, one big centralized risk window that I manage (sort of) and...

That's surprising, my experience is almost the exact opposite. I have family that once learned what I am doing, want to "invest" (and they shouldn't play with their retirement money like this!), I have to spend hours explaining risk and time horizon to them, not just look at the simple rate of...

I did almost what you have done, except that I was in finance for quite sometime, so in a way my family expected that I would jump in (and pile almost my entire networth into it). The key thing, in my mind anyways, is to have some scenarios (best case, worst case), and have a reasonable plan...

"Busted IT" maybe not an accurate statement. There are clearly quite a few ET'ers who used to do quite well as IT dev or managers, just find that trading is a better way of life, that's all. The reasons are either more money, more freedom, more enjoyment, or a combination of all of the above...

Problem isn't the back testing software, or a good simulator, one of the problems is the data and its related copyrights. I am a member of a few exchanges, so while I can have the raw ticker database for my own use, I can not share the data with non-licensed (by the exchange) users. I have...

It depends on what do you mean by a market maker, and their trading status. There are different classes, one class are the NYSE Specialists, or the DPMs on the options and some futures products, another are the plain locals. who may be independent locals, or the locals / specialists / DPMs...

2005 is poised to be the best year since the dizzying year of '99. I think it is an reversion to mean, a lot of traders / bankers left ibanks to the hedge fund industry in the last couple of years, and the relatively poor performance of HFs this year will push a few of them back to ibanks. It...

Apologies if I sounded arrogant. SAC is starting to recruit quants quite actively, as I have mentioned before, a person I know, Neil Chriss (formerly at Stern), is now the MD of quant strategies for them, doing mostly optimal trading strategy research, not new strategies, but better timing...

Heh, I believe the NASA astronaut program is quite a bit more selective, since there are only 80-100 or so in existence. "best" is a highly subjective term. The initial question asked deals with getting into SAC (a roadmap if you will). It is debatable if publishing 1 to 2 Journal of...

Front my point of view, head of desk generally refer to the head of a certain product or strategy, for instance, head of swaps trading, head of statistical arb, head of program trading, head of CDO, etc, there are usually about a dozen or two head of desks in an investment bank. Market making...

If you do well in CBS, you should have no problem landing as an analyst / associate in an investment bank, even a second-tier one (ABN, DrKW, even CSFB to name a few), then it is just a matter of impressing the right desk heads. However, to get a leg up on your competition, be proactive, talk...

I have been busy with other stuff. MP, from the little that I know, has one of the most lax internal control for a hedge fund that I have ever known. I know a couple of traders there, and they seem to say that firm-level risk management is virtually non-existent (and they are surprised since...

Okay, I will jump in I guess. The strict definition of NYSE program trading (something called a program trading report) is any trade that consists of over 15 different stocks, or over $1M in value. That's it. However, around sometime in 2003, NYSE sent out a circular indicating that any...

Dang, I was just in Tokyo (almost 15 hours ago), the last leg of a long trip through Asia. There are a lot of stuff going on in the Far East, the Citadel expansion in Hong Kong is absolutely amazing (I took a tour of their new trading desk in Central), they are bidding up asian trading talents...