![]() Great choice! Commercial banks offers lots of diverse opportunities for quants. Great choice! Financial software firms have lots of modeling opportunities for quants and Quant Questions can help you get there. ![]() Great choice! Prop trading firms offer lots of lucrative and intellectually stimulating quant roles and Quant Questions can help you practice for these interviews. Great choice! Hedge funds offer lots of lucrative and intellectually stimulating quant roles and Quant Questions can help you land one of these coveted jobs. Great choice! Investment banks are the classic place to start your quant career before progressing to more senior ranks within the firm or moving over to the buyside. ![]() Roles can vary from portfolio management, portfolio construction and optimization, transaction cost analysis, finding alpha generating strategies, beta market research or market risk management. So yeah.quant trading isn't so much trading (the machines do the trading, you do everything else), as making sure the machines can do the trading while you watch to make sure the algos do what you expect them to, while at the same time groping around in the dark for new ideas, and also writing a bunch of scripts to do other research work for you.Great choice! Asset management firms offer lots of exciting opportunities for quants and Quant Questions can help you get there. Yeah, from the 10,000 foot view, you have perfectly cleaned data that reflects the market you're going to trade in, and you can just read some white paper, implement a backtest, and suddenly you're going to be rich.Īs they say, the devil is in the details, and the details take hours upon hours of work to get right, to the tune of thousands of lines of code, and having to hire an intern if not a full-time analyst just to mind that stuff. On top of that, the trading software you use matters a heck of a ton, which I'm by no means an expert on, but the man I worked with once upon a time right now is in the middle of changing platforms, so it's no negligible detail. If everything goes absolutely spectacular in the setting up/backtesting phase, then and only then do you start off in small-sized lots, and watch those positions like a hawk to make sure it's doing what it needs to be doing. But at the end of the day, what the heck is money in a backtest? It's one line of code. Really just depends what kinda lifestyle you want.ĭon't deal with money at all? The people I worked with did deal with money. Both quants and traders are crucial for the success of a trading desk. But quants can be more easily repositioned to other roles thanks to their math/coding skills. When client flow dies, there's no need for traders anymore to explain things. Quant models definitely made traders a lot more efficient, but it just means that traders now spend more time talking to clients and explaining the products than personally implementing dynamic hedging by hands. ![]() The trading circle is also surprisingly small, so if you did something unethical or stupid at one shop, chances are EVERYONE will know you soon and you won't get a job anywhere else. Yes, I can rip my clients a new one by giving them a horrible quote for one trade, but then they will NEVER TRADE WITH ME AGAIN. It means there's a lot of human interaction involved and "trading" becomes more of a client-relation business than a pure trading competition. Most traders, however, make money on the sell-side executing large orders and customizing financial products on the OTC market. If you only run models on the public market, then no, you don't really need traders if you can predict the market.
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