that's called operations.
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that's called operations.
some of it is operation. But not backoffice. Traders also come up with the strategies and ideas.
If it's all operations then there's no way they would pull down the 7 figures. Some aspects of it is somewhat operational.
ideas are a dime a dozen (who cannot come up with an idea). you need to prove your ideas. how? quantitatively via programming.Traders also come up with the strategies and ideas.
you really dont know any real quant traders do you? babysit watch execution no they have algos that do that since the trades are lightening fast and might be arbing 4 to 9 legs without getting hung on the cme soybeans vs the brazil soybean futures while simultabeously spreading usd vs real currency in order to hedge out currency risk all at the automated speed of light. no one gets paid 500k to babysit. you keep earning your keep. the mkts change and daily weekly nuances n volatilities must be constantly hedged out and thats what you do everday and you are a quant you love working with data and have a never ending supply there is no such thing as a bored quant ever.Not exactly. Despite the system being "fully automated", they still need to be babysit. The traders mostly babysit the execution of the trades to make sure it's performing as planned. Also, there are programming errors, things going down, etc. Thousands of unplanned things that can happen that the programmer/quant didn't account in the software that happens in real life.
But most quants find that job "boring" because it's not as intellectually challenging as building complex math models and implementing in production. So a lot of quants stuck being quants forever and top out at $500K/yr which in itself is a decent living though probably not that great if you live in NYC, London, Singapore, HK, etc. Very expensive cities. Definitely upper middle class income.
The quants who have guts transition over to quant trading in some years pull down 7 figure bonuses. In mediocre years, they get little to no bonuses. In really bad year, they will get fired!
Such a clueless mindset. Just fucking clueless. I am certain you know absolutely nothing about quantitative finance too.
DE Shaw has almost 10,000 employees.
It is like saying Jeff Bezos wouldn't be able to make it selling baseball cards at a flea market.
Who cares. What can possibly be less relevant to their business.
DE Shaw has almost 10,000 employees.
It is like saying Jeff Bezos wouldn't be able to make it selling baseball cards at a flea market.
Who cares. What can possibly be less relevant to their business.
Being a quant doesn’t make you a good trader. They are just there to automate a good trader’s (David Shaw’s) strategies. Same with Jim simons. None of these guys can make it on their own.
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Without Simon’s inputs into the models rentech would make a tiny fraction of what it makes now. There’s a reason no one at rentech has gone on to have a massive fund. They aren’t talented traders without Simon’s secret sauce.Such a clueless mindset. Just fucking clueless. I am certain you know absolutely nothing about quantitative finance too.
DE Shaw has almost 10,000 employees.
It is like saying Jeff Bezos wouldn't be able to make it selling baseball cards at a flea market.
Who cares. What can possibly be less relevant to their business.