61–70 of 392 posts
Sooooo hard to get hired here. I’m convinced it’s impossible without a referral or something
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If you wouldn't mind reviewing https://news.ycombinator.com/newsguidelines.html and taking the intended spirit of the site more to heart, we'd be grateful.
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There are a bunch of these firms. And when you pass the gauntlet, you realize that the people are smart but no smarter than at other firms. At some point, the strict hiring filter just produces noise. If anything, having that many achievers results in bored people doing things that are suboptimal for the performance of the firm as a whole. Whole divisions of wasted talent spawn and self perpetuate. It's the hiring pr…
I'd be retired by now.
1. It's realllyyyy hard to get hired. So many stories are along the lines of "I applied...blah blah... didn't get in" 2. You have to solve over the phone very hard math questions to make it past the initial screening stage. I dunno what comes after that. The highest-stakes gambling events in the world are typically very discreet, invite-only affairs. One that might be close to the top in terms of available winnings h…
> I increased my account by 5x since the lows of covid to present with simple large cap tech and etf strategies (...) You managed to make money on a levered high-beta strategy in a zero interest rate environment? If you don't know who the rube is in a market, it's you. Add a bit of volatility and the smart kids at Jane Street will eat your portfolio. They are on both sides of every trade, taking your money no matter…
You can make your substantive points without that.
Something I don’t understand: Why haven’t their gains been arbitraged away? Conceptually what they do seems simple enough; and presumably you just need capital to do it. Hell, their own former employees could theoretically compete against them - as could many traders who would pay to learn those strategies. So why are they still making so much? I don’t understand why their “advantage” hasn’t been arbitrated away into…
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“We don't demand that chess champions use their skills in something with more real-world applications, or that concert pianists find a more practical outlet for their manual dexterity and attention to detail.”
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There are a bunch of these firms. And when you pass the gauntlet, you realize that the people are smart but no smarter than at other firms. At some point, the strict hiring filter just produces noise. If anything, having that many achievers results in bored people doing things that are suboptimal for the performance of the firm as a whole. Whole divisions of wasted talent spawn and self perpetuate. It's the hiring pr…
Don’t mean to hijack this thread but seeing as you have a background in the industry I was hoping you could answer a couple questions I had: 1. What do these firms typically look for in support staff? I’m asking about non trading/quant roles like recruiting/ops/facilities management? 2. What’s the potential upside, not specifically financial, but more along career growth and opportunities for different roles within t…
I find this stuff fascinating, and this article is way above average for online posts about proprietary/algorithmic/quantitative/low-latency trading (very leaky Venn diagram there). I have a few nitpicks but overall it's informative and it's an interesting format: viewing an industry through the lens of a particular firm, especially one as fascinating as Jane. Anything that develops literacy in modern finance amongst…
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> I don't do stock market trading You probably do, indirectly through an agency agreement, for example a pension fund that manages your money. Or even whenever you just buy an ETF to invest. The costs you're indirectly paying are lower due to the newer generation of market makers that have reduced transaction costs for you. > Is Black Rock buying all the real estate also good for (potential) retail investors like me?…
I don't have a pension, or a 401k if that is what you are implying. I do have social security deducted from my paycheck. Is that money getting invested into the stock market on my behalf? Sorry I'm not in the elite income class, I'm not directly familiar with the nuances of all these financial companies, or what they do. I understand risk. I understand lending money to pursue a risky venture. I understand time-value…
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> I don't do stock market trading You probably do, indirectly through an agency agreement, for example a pension fund that manages your money. Or even whenever you just buy an ETF to invest. The costs you're indirectly paying are lower due to the newer generation of market makers that have reduced transaction costs for you. > Is Black Rock buying all the real estate also good for (potential) retail investors like me?…
I don't have a pension, or a 401k if that is what you are implying. I do have social security deducted from my paycheck. Is that money getting invested into the stock market on my behalf? Sorry I'm not in the elite income class, I'm not directly familiar with the nuances of all these financial companies, or what they do. I understand risk. I understand lending money to pursue a risky venture. I understand time-value…
The Wolf of Wall Street wasn't doing any sort of financial engineering in the real sense of the term. They were just committing fraud with pump and dump schemes. These guys had no actual quantitative or mathematical modeling abilities whatsoever that would be required for financial engineering and modeling. They were salesmen who swindled a lot of clueless people out of their money through illegal means.