"Trading as a Business" quant interview, highly recommended

[HiddenAgenda]

It may seem a little counterintuitive, but sounds like the right thing to may be to just get a good, liquid ETF, e.g. SPY (or a broader one based on the Wilshire 5000), and relax. Unless you're a good algo trader with thoroghly backtested ideas, a pro.

Just do what you REALLY like - sailing, art, sports, partying, whatever, depending upon age and taste. Experience, convertible into something valuable.

Of course, the ETF strategy would've brought you a stunning -1.9% (or smth like that) over, say, 1988-2008.

But maybe if your holding period is, for example, 2009-2012, you'll be more lucky. After all, we don't have crises every year.

 

[Martinghoul]

Quote from Index piker:

1st of all anyone wanting to treat trading as a business would not set out trading their own money.

2nd if they had to do that the best method would be breaking up seed capital into 10 different accounts with 10 different models of near term market action.

a)Establish a track record for the best fund.
b) drop the rest.


3rd go shopping for stupid customers(with $ signs in their eyes) who don't know this drill from the hedge fund and MF industries.

And you're basing these grand pronouncements on precisely what, pray tell?

 

[Martinghoul]

Quote from pedro01:

Yes - but could they trade as well as a cockney lad who left school at 18 and who's first car was an XR3i convertible with go faster stripes ?

Probably not.

You fall foul of the myth that it takes smarts to trade.

Of course it takes some smarts but then again, no more than it takes to be a great painter, sculpter, chef, formula 1 driver.

You, pedro, fall foul of survivorship bias here, methinks...

Just what percentage of your 'cockney lad' sample that went in actually succeeded in the trading/investment mgmt arena? You should compare that to the same record demonstrated by PhDs/academics. And please let's not use good old Terry Crawley as an example of an Essex barrow-boy... The man's unique.

asiaprop, I am in full agreement with you, but could you pls not be so abusive? pedro has a right to express his opinion and we all have a right to disagree and argue, but let's not insult each other pls.

 

[asiaprop]

fair hint, point taken...;-)

have a good weekend all.

Quote from Martinghoul:

You, pedro, fall foul of survivorship bias here, methinks...

Just what percentage of your 'cockney lad' sample that went in actually succeeded in the trading/investment mgmt arena? You should compare that to the same record demonstrated by PhDs/academics. And please let's not use good old Terry Crawley as an example of an Essex barrow-boy... The man's unique.

asiaprop, I am in full agreement with you, but could you pls not be so abusive? pedro has a right to express his opinion and we all have a right to disagree and argue, but let's not insult each other pls.

 

[TraderZones]

Quote from pedro01:

Yes - but could they trade as well as a cockney lad who left school at 18 and who's first car was an XR3i convertible with go faster stripes ?

Probably not.

You fall foul of the myth that it takes smarts to trade.

They actually let you in here, and POST? The entry standards have REALLY fallen low...

 

[TraderZones]

Quote from pedro01:

In fact, a lot of the people that develop software for me are far more intelligent than me on paper.

In fact, a Mushroom is a lot more intelligent than you, in reality...

 

[Martinghoul]

Quote from TraderZones:

In fact, a Mushroom is a lot more intelligent than you, in reality...

TZ, is it too much to ask you to please keep the discussion civil and not resort to insults? Everyone is entitled to have an opinion...

Please...

 

[TraderZones]

Quote from Martinghoul:

TZ, is it too much to ask you to please keep the discussion civil and not resort to insults? Everyone is entitled to have an opinion...

Please...

You need to grasp the poster. This person most likely lives in a basement.

 

[MaklodaSux]

Quote from HiddenAgenda:

A friend of mine has a Ph.D. in Sociolinguistic Analysis.

I showed him your message, he says you sound like a loser at the bottom of the social ladder.

Holy shit, he nailed it! Through a fucking computer too nontheless. Good thing you had your friend there to help you through the thought process of figuring out whether I'm retarded or not through a computer. That's a pretty lofty task. Hope you guys didn't rack your brains too hard. I'm going to proceed now to trip over large objects and crash through walls of my house because I'm so stupid.

 

[HiddenAgenda]

Whatever

I don't think he meant it