> – You “fail” the interview if you get the wrong answer
> We care about how you think about and approach tough problems, which includes how you take hints and respond to being wrong.
First and second sentences need to swapped.
Probability and Markets [pdf]
21–30 of 75 posts
Re: Probability and Markets [pdf]
#22What was the probability that one of JaneStreet’s alumni, Sam Bankman Fried, would use JaneStreet’s brand name to build up credibility and then pull off the biggest ponzi scheme in human history?
> use JaneStreet’s brand name to build up credibility How is that different from bragging that you finished MIT, Harvard, Oxford, you worked at Google or that your startup is in YC.
Well for one, JaneStreet is an active market maker, trader, and investor in crypto, including in many projects created and/or backed by SBF
Re: Probability and Markets [pdf]
#23For the experts in the thread complaining about the simplicity of the excellent introductory text in the OP, here's an exciting reading for you: Statistical Consequences of Fat Tails: Real World Preasymptotics, Epistemology, and Applications by Nassim Nicholas Taleb https://www.amazon.com/Statistical-Consequences-Fat-Tails-Pr... Beware that it may be way more advanced than what you'd expect though.
would you recommend any books/resources before jumping straight to this? Thanks!
Re: Probability and Markets [pdf]
#24Honestly I expected it to go over far more advanced topics than these, most of these are covered in the last year of high school over here.
> Honestly I expected it to go over far more advanced topics than these, most of these are covered in the last year of high school over here. Opening sentence: The goal of this document is to present an introduction to probability and markets in what we hope is a fairly intuitive and accessible way.
Basic reading and comprehension is not covered in his last year of high school it seems.
Re: Probability and Markets [pdf]
#25Earlier quoted context omitted.
> Honestly I expected it to go over far more advanced topics than these, most of these are covered in the last year of high school over here. Opening sentence: The goal of this document is to present an introduction to probability and markets in what we hope is a fairly intuitive and accessible way.
right no I guess thats not what I meant to say, rather that I expected any learning material from Jane Street(which has some really rigorous interviews) to give a better heads-up to the type of thinking thats required to do well in those interviews.
> type of thinking thats required to do well in those interviews
They have a whole page dedicated to that: https://www.janestreet.com/join-jane-street/interviewing/
Attention to detail and clear communication, including good grammar and spelling, are probably important.
Re: Probability and Markets [pdf]
#26Earlier quoted context omitted.
Slightly lower than one of MIT's alumni doing the same. It's telling that Jane Street stayed away from the whole mess despite the connection.
They were happy to trade crypto and provide market making facilities throughout the ordeal. They only decided to “step back” now that regulators are bringing the hammer down This wasn’t an innocent bystander firm. They were complicit, either directly or indirectly
Buying prospectors' pyrite for the little it’s worth is different from driving aspiring miners to mountains without food or water.
Re: Probability and Markets [pdf]
#27For the experts in the thread complaining about the simplicity of the excellent introductory text in the OP, here's an exciting reading for you: Statistical Consequences of Fat Tails: Real World Preasymptotics, Epistemology, and Applications by Nassim Nicholas Taleb https://www.amazon.com/Statistical-Consequences-Fat-Tails-Pr... Beware that it may be way more advanced than what you'd expect though.
Personally -- I couldn't get past the first 2 chapters of the book. The notations it introduces are pretty unfamiliar for a newcomer and it quickly becomes really hard to follow. I genuinely would like to hear from somebody who managed to go through the entire book above, and what their main takeaways were (from the chapters that follow the two introductory ones). The non-technical introduction chapter is pretty easy…
The rule of thumb with mathematics books is that either you skip the first 2 chapters and read the whole thing, or you only read those 2.
Re: Probability and Markets [pdf]
#28What was the probability that one of JaneStreet’s alumni, Sam Bankman Fried, would use JaneStreet’s brand name to build up credibility and then pull off the biggest ponzi scheme in human history?
The fact that JaneStreet hired both SBF and Caroline shows their interview process has a few flaws.
Re: Probability and Markets [pdf]
#29Earlier quoted context omitted.
I teach post-grad stats classes in the US, with no real prerequisites besides a Bachelor's degree. Most but not all of my students have passed a college level stats class that covered these concepts, and maybe half of those did not retain a true understanding of these concepts by the time they got to my classroom. In my experience, math is the least like/most hated of the core subjects, and stats is one of the least…
What makes statistics seems so daunting to the average student over, say, discrete mathematics? I feel like statistics has so many immediately obvious real world use cases and useful analogies to help frame it (die rolls, etc).
Easy to get things wrong from the wrong intuition or understanding of the problem. Cross mathematic discipline etc.
But I feel that most applications just need high school math.
Re: Probability and Markets [pdf]
#30Honestly I expected it to go over far more advanced topics than these, most of these are covered in the last year of high school over here.
Despite it being "covered" in many places, few otherwise intelligent people actually grok this stuff or have any real intuition for it.