Wanna be a Quant ?

[syswizard]

Quote from nidarian:

No you are missing the point.

Who cares about price when you trading 20,000 contracts a day and spending millions on research every year. I think you just have no clue and I like it that way.

Sorry, we're all not as "well-heeled" as you are.

 

[MarkBrown]

Quote from syswizard:

Sorry, we're all not as "well-heeled" as you are.

syswiz - i have been where your at about 10 years ago and i am where we spend over a million a year now on research easily. in fact since 2001 i have burned through about 6 mil. for projects.

enjoy your position now - i often reflect and think that was when i was my best. i dont know how i did all the projects i did and still make money. now i just focus much more on the money and its not as much fun. i do enjoy having a cray to do research projects on and the ability to just about do try buy anything. but at this level your mind changes what you go after.

mb

ps i guess the message is be careful what you aspire to do.

 

[tortoise]

can someone seriously explain to me what the purpose of a quant is?

to me it looks like someone who backtests data, comes up with some screwed black box trading model that applies large leverage, and then hopes the market doesnt trade 3 or more standard deviations, so they dont have to blow up the fund...

i mean seriously thats what I think, no jokes, whats the truth?

In practice, the math of it gets quite complex but, essentially, that is the truth.