Trading Networking - I live in LA, do I have to move to New York?

[Maverick74]

Quote from misaki:

What's Gelber?



First Quadrant.



I'm not too sure about the question. Are you looking purely to network or to find employment? If the former, it doesn't matter so much the physical location as does the events that you get involved in. Based on my personal experience, I've gotten less networking done at Chicago/NY than at my base of operations and conferences along the east coast.

If you only want to be in LA, the best I can suggest is FQ. KCG has a small office in LA. If you're fine with IB back office as a first step, I think Houlihan Lokey has a programming position in LA. I'd check with Credit Suisse and UBS LA too, although the latter have been taking a lot of flak lately.

If you're fine with SF, I'd try GMO or Headlands. SIG and Wolverine have small presences and limited vacancies. Edit: Just reminded, Peak6 probably has a presence in SF too. If you're fine with being on the tech side, Fidessa also has occasional market access development positions.

There are probably more that I don't know about (Gelber?). But for the ones above, PM me if you need any color.

First Quadrant is NOT a prop firm. Gelber IS. I assumed the OP was looking for a prop firm.

 

[misaki]

Quote from Maverick74:

First Quadrant is NOT a prop firm. Gelber IS. I assumed the OP was looking for a prop firm.

1) I still don't know what Gelber is, but my guess is that it's very far from my idea of a "quant shop".
2) I didn't see any mention of prop firms in his posts. Since you've clarified that you've made a false assumption, let's agree that there are such firms in the LA region and move on.

Quote from Newmoney24:

I have a lot of interest in algo/automated trading and overall being in a trading environment,

do you think I could find that in abundance in LA, or would I have to move to New York?

Bump- I would much rather live in LA but ill move to NY if I have to

what I don't understand is--- I LOVE Cali weather. I don't like cold snowy winters or hot summers- I can't imagine that traders aren't like this too--- also LA has roughly 14 million people - how is it possible for there not to be a major trading hub in LA like there is New York? (is it the timezone/trading hours?)

 

[Maverick74]

Quote from misaki:

1) I still don't know what Gelber is, but my guess is that it's very far from my idea of a "quant shop".
2) I didn't see any mention of prop firms in his posts. Since you've clarified that you've made a false assumption, let's agree that there are such firms in the LA region and move on.

No, their aren't. That is my point. I'm willing to be wrong which is why I asked the OP to list them. Gelber is a prop futures trading firm. It's not a "quant" shop. That does not mean they don't engage in algorithmic trading, it just means they don't fall under the category of quant shop.

I have no doubt there are hedge funds out there. Although most of the big ones are the Bay area. My statement was simply that I was not aware of any prop trading firms in LA. There are some firms that have a small LA office. For example, T3, a bucket shop, is out there. Coastal, is out there. I believe M&N has a small office there. But there are no LA firms specifically. Again, if I'm wrong, that's cool. I simply ask the OP to actually list those firms when he rattled off there were "many".

 

[misaki]

You asked for a "quant shop" and I named one:

Quote from Maverick74:

LA has ZERO quant shops. If I'm wrong, start naming them.

Then you turn around saying "Gelber IS" (presumably a "quant prop shop" now):

Quote from Maverick74:

First Quadrant is NOT a prop firm. Gelber IS. I assumed the OP was looking for a prop firm.

And now you're shifting the definition (by dropping "quant" out of the phrase) far out of the left field:

Quote from Maverick74:

Gelber is a prop futures trading firm. It's not a "quant" shop. That does not mean they don't engage in algorithmic trading, it just means they don't fall under the category of quant shop.

I can't keep up with your posts if the definitions have to be frequently updated, but I've left my advice for the OP and pointed out that the claims about latency being behind the geolocation are myths, and I appreciate that you've taken the time to describe what Gelber is. Let's leave it at that.

Have a good weekend.

 

[gmst]

Quote from misaki:


First Quadrant.

I was under the impression that First Quadrant is a quant shop since I know a very technically very strong person who has a Quant finance PhD who works there. That guy joined that firm leaving Goldman quant position. So I got the impression that it must be a quant shop.

However, I checked their website yesterday before I posting on this thread, and it seems from their website they are more of a boutique semi-traditional investment management fund, who might be using quant methods but do not seem "quant-centred", if you know what I mean. So they are not like some of the firms you mentioned viz. SIG, Wolverine etc.

Are you sure that bulk of their work is automated/systematic trading?

 

[Newmoney24]

thanks for your replies guys, I appreciate the feedback,

as one caveat- I am not a programmer, I do however love automated trading- the role I would hope to fill is direct programmers to try programming different things-

am i screwed if I don't know programming? if not where do I have the best chance of finding a role in this?

and finally- what's the best way to approach companies with this desire? I'm extremely competitive and hard working-- I am most interested in working in a team environment though because as I've learned in life- there's a lot of value in
building relationships and I'm not getting any younger

 

[misaki]

Quote from gmst:

Are you sure that bulk of their work is automated/systematic trading? [/B]

Yes.

Quote from Newmoney24:

thanks for your replies guys, I appreciate the feedback,

as one caveat- I am not a programmer, I do however love automated trading- the role I would hope to fill is direct programmers to try programming different things-

am i screwed if I don't know programming? if not where do I have the best chance of finding a role in this?

and finally- what's the best way to approach companies with this desire? I'm extremely competitive and hard working-- I am most interested in working in a team environment though because as I've learned in life- there's a lot of value in
building relationships and I'm not getting any younger

...This is like a person who doesn't know how to sew trying to become the next Balmain or Saint Laurent. There are just as many talented, experienced and eager fashion designers out there who want the same prize. Taking into account your willingness to learn, you should consider spending several years in a related role while you get better at programming (e.g. in grad school, as a runner/discretionary trader at a trading desk).

 

[Nab]

Quote from Newmoney24:



- the role I would hope to fill is direct programmers to try programming different things-

am i screwed if I don't know programming?

You are screwed ...