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Seems counter-intuitive to provide competitors with free information, unless you are trying to throw them off.
Any model superior to what Jane Street is running is worth vastly more than the prizes they’re offering. If you prove such a model out, get licensed (SEC, FINRA) and start soliciting to manage assets. Disclaimer: Not investment advice. Not a lawyer, not your fiduciary.
To me, this seems more like a funnel for recruiting
To get one candidate and come out superior, acceptance rate should be 1%. (i.e. 99 failures). But if there are 50 leads from the program, and you convert a fifth, that's 10 candidates for a cost / successful recruit of $10k which means you have 10% acceptance rate to break even.
Hmm, back of the envelope seems to do all right as a strat. Relatively cheap. I recall the last time we were hiring, we projected cost per hire at $35k with the bulk of that actually being the recruiter referral fee.
Just curious, how well-known is jane street outside of the OCaml world?
Is this a just a hiring competition under a different name? If you can beat their model, obviously you deserve a 100k signing bonus and a very generous compensation package.
Earlier quoted context omitted.
To me, this seems more like a funnel for recruiting
With an engineer phone screen and three on-site interviews, that's 4 hours of engineer time. $150/hr compensation per engineer, so cost is roughly 2x, $300/hr. So $1.2k to run a candidate through the pipeline post-initial-qualification. To get one candidate and come out superior, acceptance rate should be 1%. (i.e. 99 failures). But if there are 50 leads from the program, and you convert a fifth, that's 10 candidates…
Unless you have some kind of specialized non-public data (e.g satellite images of number of cars parked outside parking malls, number of cargo ships moving in and out), trying to predict the market with historical data does worse than "Just give me some monkeys, darts and a dart board".
Just curious, how well-known is jane street outside of the OCaml world?
Isn't it pretty well known in the finance world that using stale public information to predict the market is a fool's errand? Unless you have some kind of specialized non-public data (e.g satellite images of number of cars parked outside parking malls, number of cargo ships moving in and out), trying to predict the market with historical data does worse than "Just give me some monkeys, darts and a dart board".