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SEC regulation on fund disclosures won't require that every fund hire a compliance officer. It just requires that the funds files the necessary disclosure documents, like audited year-end statements, virtually 80% of the funds will just hire a third-party to do the filings, not a big deal. I...

Good article ... a couple of observations. One, $60M fund is considered quite small, and he still have 3 staff? That is quite extravagant by my count, I know of a couple of funds that have 250-400M, and only 6-8 people in total. In fact, most funds I know that only have 50M or so are run by...

Not really, almost all the quants on wall street have to get used to the libraries that have been coded up over the years within the ibank. Hardly any application is developed without reusing some piece of existing code. And depend on the history of the group (or even the ibank), there can be...

I don't know about general, but I know about < 10 analysts and associates. The person who made the least made about 180 last year, he is about 2 years out of masters (not MBA), and the fund did about a 10-11% return. From my experience, due the close working relationship between partners and...

I have never seriously coded in VB (other one or two Excel basic toys), so I have no idea there. For C++, the basic language introduction will take 1-2 courses by itself. But assuming you have knowledge of another OO language and have some knoweldge of programming languages in general, you...

I think there are a lot of mis-information here. First of all, it is clear that there are both technologists and some analysts in this thread. I have been both (but primarily as a technologist). The real answer is again one of those "it depends" type of answers. it depends what the...

Let's go through hedge funds, and away from consulting. A fund co-manager I know is paid $150k base, and 30% of the incentive fees on his sub-fund. This was thought to be very good (as some of the discussions was around 20-25% of the incentive fee range). Then again I only have 3-5 data...

People tend to forget that LTCM had 7 years of tremendous profitability (lowest year was 42%, with very little volatility) before the liquidity trap took it down. The only thing LTCM did not account for was that by dominating the FI market, it was creating a liquidity risk for itself, that and...

Yes, your payout scales should be written down. The general paperwork should include the standard account paper works, and a standard agreement between you and the prop firm LLC regarding, capital contribution, profit sharing, and commission rates, plus any desk / monthly charges. The...

Can you be a little more specific? I trade the ES (actively) and in 14 months I have never seen a "bad tick'. I get the tick-by-tick data (I am a merc member). It is possible for ES to spike up / down 1-2 ticks due to a large fill (2000+, or a couple of 1000+ fills)), and then come back 1-2...

You are in the tough bind. Where / when did you get your MBA from? Toronto is a tough place to break into finance, since that the Bay Street is dominated by a few large firms and very few smaller and med-sized firms. The hedge fund / fund management industry is also significantly smaller than...

I figured that most of the people here just jump right to conclusions. Especially the "newsletter" concept. I wasn't 3 months out of college, to be clear. I was 3 months out of getting a doctorate, from a fairly good university. But I guess from an industry experience perspective, that...

I guess in a way figures are irrelevant, it is if you would prefer making $200k trading or $200k as a consultant. Problem is time and energy, building up a good consulting rolodex takes time, and building up a good trading strategy also takes times. Both of them are full time endeavers and...

Why am I replying I have no idea. I have spent 6 years in management consulting in a top firm (BCG). While the average quality of people I worked with in consulting tend to be higher than almost all the other place I have been (wall street, trading, hedge funds, etc). The problem isn't...

This is exactly what some of the prime brokers provide, GS, BofA, etc. I was with both for some period of time, in both setups, all the tech support, feed management (access to Reuters RMDS, ticker plants, etc), space, cable, etc, are provided by the prime broker. All I pay was rent (which is...

Now this is my turn to ask a question. Would you prefer to make $1MM a year trading or doing contract / consulting? Of course, ignore the obvious background questions, i.e., how much capital? for instance, making $1MM on 10MM is nothing, but making 1MM on .5MM is impressive, etc. And how...

A couple of things. First of all, a $200M fund is comparatively small these days. I was part of a $200M fund, and we had < 10 people (and only 2 technologists). Keep in mind that a $200M fund returning 15% only has $8M annual fee (at 1 and 20). The standard answer will be, it depends on...

Don, I know I am nit-picking here, but while equity trading is going down the tubes on Wall street, other product areas (such as derivatives, exotics) are seeing rapid growth in hiring. I am not sure I would generalize as "don't look for a job on wall street". Wall street is always expanding...

On the pure strategy-similiarity side, probably not, most of the NYSE prog trading is focused on index arb and replication anyways. But, given the liquidity of GE (and the size based fill algo) is tempting for fairly standard order-book system (that would do sizes of, I would think > 500).

Well, GE is mainly Globex, whether automated I am not as sure. But the nature of GE (liquidity, fill algo, etc) is highly suited for simple order book based automated trading (of sufficient size). I should really run my analyzer against the current GE data set (it usually is fairly easy to...