Which one of you guys made this reddit post

nooby_mcnoob said:
I think his mistake was thinking he can go on reddit and find some neckbeard giving away a new source of alpha. So he is frustrated because he's probably not performing and is getting called out for it.
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His first mistake was reddit. He may as well go to 4chan.
 
JSOP said:
Oh I guess their time is just too precious for them to take 1 second to write out the whole word. LOL
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Yes the person who post that is just bullshitting around. Just another trader talking silly not posted no broker statemens. Not posting no trades or chart or nothing. Just typical messing around traders saying some fancy talking.

If I was $100MM portfolio manager, do you think I be here on the forum giving advice to people? No, I be chilling with the family on a mansion.
 
SimpleMeLike said:
Yes the person who post that is just bullshitting around. Just another trader talking silly not posted no broker statemens.

If I was $100MM portfolio manager, do you think I be here on the forum giving advice to people? No, I be chilling with the family on a mansion.
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I agree about the subreddits for sure. Take ET, for example. I have known (personally) three traders on here that were self-made (well 2/3) that are worth over $100MM. All with over 2K posts. $100MM for a PM in terms of AUM is nothing today. I know guys running leveraged loan portfolios at $500MM. I know a 30yo who turned down a $100MM LL portfolio gig to trade a $10MM prop-account.

In any event, the reddit quant PM is FOS.
 
JSOP said:
Oh I guess their time is just too precious for them to take 1 second to write out the whole word. LOL
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It's Machine Learning, not machine language. ML is essentially a collection of statistical techniques that extracts patterns from large(er) datasets and it's the latest rage in quant finance.

SimpleMeLike said:
If I was $100MM portfolio manager, do you think I be here on the forum giving advice to people? No, I be chilling with the family on a mansion.
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Dude, these days a proper fund starts you at $250-$300 and expect you to grow to 500 fairly quick. Literally nobody would speak to you if you don't have that type of capacity. Alternatively, you can be running a Sharpe of 5+ on a much smaller scale and then you get a seat at some prop-shop.

Statistical arbitrage (or almost anything quant) produces a fairly low return on capital. Here is a back of the envelop calculation, while I am finishing my spliff. I am not a stat arb PM but I would guess that the average in the industry is 2-4% return on GMV, which you get to leverage a bit. Returns on capital of 7-10% are considered "good" and keep people employed. A "normal" PM takes home 10-15% of his PnL after costs (which are high, trust me). So if this guy is telling the truth, running a $100 is makes $7-$10 bucks of PnL, probably spends 1-2 of those on costs (data, colo etc) and he's taking home anywhere from 700 to a buck. Not bad but certainly not enough to kick back, especially considering that his alpha is here today and gone tomorrow.

destriero said:
$100MM for a PM in terms of AUM is nothing today.
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Well, in fairness, we don't know what the guy does (or if he really does it). A high turnover/return book drawing on a hundred is very respectable, e.g. at places like TRC only one or two PM manage that much. On the other hand, monkeys like myself have to deploy 500+ just to hold on to our seats.

PS. I finally managed to read the opening post (reddit links don't work in Brave, probably for a good reason) and have to agree with the point 4. The rest is mostly arrogant fluff.
 
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destriero said:
In any event, the reddit quant PM is FOS.
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destriero,

I for certain, 1000%, AGREE with you on that. Whoever wrote that is just playing around stating the obvious. Most importantly, his post does not talk about exactly how to make money. He just talking useless comments, trying to get attention.
 
Secret Santa said:
It's Machine Learning, not machine language. ML is essentially a collection of statistical techniques that extracts patterns from large(er) datasets and it's the latest rage in quant finance.


Dude, these days a proper fund starts you at $250-$300 and expect you to grow to 500 fairly quick. Literally nobody would speak to you if you don't have that type of capacity. Alternatively, you can be running a Sharpe of 5+ on a much smaller scale and then you get a seat at some prop-shop.

Statistical arbitrage (or almost anything quant) produces a fairly low return on capital. Here is a back of the envelop calculation, while I am finishing my spliff. I am not a stat arb PM but I would guess that the average in the industry is 2-4% return on GMV, which you get to leverage a bit. Returns on capital of 7-10% are considered "good" and keep people employed. A "normal" PM takes home 10-15% of his PnL after costs (which are high, trust me). So if this guy is telling the truth, running a $100 is makes $7-$10 bucks of PnL, probably spends 1-2 of those on costs (data, colo etc) and he's taking home anywhere from 700 to a buck. Not bad but certainly not enough to kick back, especially considering that his alpha is here today and gone tomorrow.


Well, in fairness, we don't know what the guy does (or if he really does it). A high turnover/return book drawing on a hundred is very respectable, e.g. at places like TRC only one or two PM manage that much. On the other hand, monkeys like myself have to deploy 500+ just to hold on to our seats.

PS. I finally managed to read the opening post (reddit links don't work in Brave, probably for a good reason) and have to agree with the point 4. The rest is mostly arrogant fluff.
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I was responding to people confusing AUM ($100MM in this case) with net worth.
 
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