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Why do traders in investment banks feel their jobs are immune from AI, etc?

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Re: Why do traders in investment banks feel their jobs are immune from AI, etc?

#231
post #220

Earlier quoted context omitted.

So, you're in only for the money?

Er, it's trading... what else is there?

Interesting challenges, brilliant people, nice co-workers, instant feedback loop, lots of resources at your disposal, large company benefits (i.e. pension/healthcare), quality matters, work with grown up.

A lot of which can't be found in the usual web startup.

Re: Why do traders in investment banks feel their jobs are immune from AI, etc?

#232
post #202

Earlier quoted context omitted.

So the rumor is Goldman Sachs got out of the financial crash first because their systems saw the market move before anyone else. I don't know if that is apocrypha, but it is more to the point Google would not be predicting the market, but instead see market movements before anyone else.

I highly doubt that it is as technical as you seem to make it. GS is very well connected, and they are constantly out there asking people for their opinions. Ten years ago they probably had some sort of database where people could share experiences, and that is most likely what led to them guessing the financial crash. But it's not like they had some machine that one day told them to short mortgages.

I checked you bio are developing your own HFT strats? I ask because I am connected with a couple startup HFs. Ping me on Symphony {Brian Hewes} if your up for chatting about it.
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