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That’s something that comes with experience. I have seen people over-engineer things and subsequently fail.

No, I mean work directly inside a money making group. Being in a support function is not going to teach you anything about the stuff you want. PS. If you go to an interview and see a guy that has zero understanding of your IT skills but knows how to make money, that’s the job you want :) “we...

That’s where I think I fail most of the time. I look at good code, most things are wicked short and concise. My code is a mess of loops, ifs and cases. Is that a design failure or coding style failure? PS. There is a whole template game that true UHF people play to reduce WtW latency, would be...

Well, think of it. It’s your first live strategy, you are still uncertain if it works (and will be uncertain for a while). Most of the work at this stage is figuring out bugs in the process. Get something together that will get the job done initially. Maybe not an MVP, but something viable...

Actually, your best bet is not to hire someone, but rather go work for someone for a little while. There are plenty of people out there that can use your skill set to research new ideas or implement/improve existing strategies. After some time, you will find that you understand the process and...

@truetype I have heard stories about these “funds on the cheap” but I didn’t understand what’s the point. If you just need a couple extra accounts to supplement your own trading, there are cheaper options like managed accounts (disclaimer - I have no clue since I never researched it). If you...

Start with mostly commercial/free products and slowly replace them with DIY products whenever you find the current stack is somehow insufficient. In general, you want to increase the complexity of your process only when needed. That’s especially true when running a strategy at the beginning of...

Could you elaborate on this? PS. I am trying to improve my C++ since I know it’s ugly

I do not dispute that we are well on the way to the cashless society. However, that link has a fair number of conspiracy theories as to why and how this is going to lead to fin de monde

Maybe, just maybe, there some confirmation bias in that statement? :) unless you are being sarcastic and self-deprecating, in which case I am an ass PS. As I said, I do agree that raising funds and actually producing good returns are the hard part. Further more, the more you succeed in the...

Exactly. It's called the disposition effect (reference below, I think this is the original paper), the general idea is that given symmetrical expectation, investors are likely to hold on to the losing positions and liquidate the winning ones. https://www.staff.ncl.ac.uk/mike.cox/PsyFin/essay3.pdf

Apparently, you believe that ZB trading system dude and don't believe me :) That's fine, you can believe whatever you want. In any case, compensation in investment management, especially in the areas where you're responsible for PnL is very fat-tailed. Good people make a lot. They are worth it...

Unlike the mythical world of ET where people manage to make millions after reading some books on technical analysis, an analyst (quant or fundamental) is formed primarily by his experience. Education and talent help too, but it's the years of industry experience that make or break you...

Some serious theories there, man. I will have the same stuff those guys are smoking, please :)

Admin fees alone will run you that much. My calculations are stale, but I recall that breakeven for an SEC registered fund running a single strategy (read - 2 partners and nothing else) is about $250 AUM (this way, you can cover everything from the AUM scrape). That was assuming that you...

That was my main concern, to be honest. The “firm” is a hedge fund.

If this was a real trade, it was definitely a client buying- back of the envelope this is about 275 vol and I cannot see anyone paying that (OTM or any strike for that matter) as a pure vol bet

Kdb+ or a similar Sunguard product are relatively easy choices, since the firm uses them already. Cost-wise, I’d be piggybacking on firm-wide licenses and there are experts in house. Of course, the flip side is that I have to learn a brand new product and programming language (I have touched kdb...

That's horrible, someone in their IT department deserves a spanking. A very similar "feature" led to Bear Stearns trading 4.5 yards worth of S&P futures into the cash close back in 2002 (I think).

All right, raise your hand please! How many of us think that this was self-trading by LedgerX to increase publicity?