Such a beautiful, articulate, honest and kind interview by Worthan Kwan and the interviewer Tina Huang was able to get great information from the guest and still make the interview very interesting and fun. Both are pleasant and fun people. Thank you Tina and Worthan for sharing. We appreciate it.
I've worked in markets for 10 years. I am always more of a technical analysis guy in short term and a fundamental analysis guy when it comes to investing in the long run. Quant analysis is a relatively newer field and it seems quite fun. I always wanted to be a venture capitalist but life is complex. So I'm doing computer science now. I enjoy coding that's why I like your channel but I do feel my experience and studies in finance and business help me out everywhere.
Based on his answers, he got in a couple yrs ago. Today, quant trading is differentiated by probabilistic models including DS vs simply algorithmic usage. This is more prop trading when you’re primarily doing basket options trades based on model vars. Peak6 is def considered prop shop vs quant fund. Same with Jane St though they try to market themselves as quant driven these days.
Thanks Tina for this interview! Seems like something I would be interested in. This interview gives me some hope that I can potentially get one of these positions.
I work in prop trading. The part that’s being downplayed by a lot is how incredibly competitive it is to get into this industry. The Jane Street interview rounds are notoriously difficult. They’re basically screening for geniuses. Any time an industry will pay some 25yr old with a bachelors degree over $500k to work 45hrs/week there’s a catch. In this case, the catch is that you have to be wildly intelligent to get past all of the interview rounds.
Do you mind eloborating about work at prop firms Your not making salary but you make percentage of what you gain or lose ? Am i right ,? If so whats the point of working , menaing if you have working strategy why not just trade for yourself and keep 100% Also they pay you 500k at 25
@@urosuros2072 you get to trade with firm capital of millions of dollars so you can take risks you wouldn’t take with your own money and get a healthy % of it as your annual bonus. You get to trade through tech infrastructure that costs millions of dollars to maintain. It will be the fastest, and have access to dark pools. You get access to a team of experienced quants who have generated winning signals over their careers.
@Eugène Duvert sure, that’s as good as any another major. Realistically, your primary bottleneck will be your own IQ. It’s politically incorrect these days to say it, but this industry doesn’t care. They’re risking money and they want hyper intelligent people. So the interview rounds are basically IQ tests. If you didn’t score above 1400/1600 on your SATs, and definitely above 700 on SAT Math, just don’t waste your time and instead look for softer industries that also pay well like Banking or Consulting.
Hi Tina, thanks for the video, very informative and definitely gives a lot of quant trader related insights. Would love to see more of this talk-with-the-pros type of content
Really insightful, I did finance for my undergrad, currently doing a part time msc in comp sci - been working in back office for a few years, looking to jump ship
This was unbelievably useful and entertaining! :) (Atm I'm an economics and management student (desperately) trying to get away from IB and into quant trading)
Greeks (delta, theta, gamma, Vega, rho) describe risks (various rates of change) of an option price. Analyzing option portfolio risk is fun. I am a former options market maker and NYBOT member.
i disagree with having a degree to become a non-retail options trader a lot of successful people trade options you don't need a degree it's very simple stuff the only way to get a non-retail edge is to own billions and move the market yourself either way it's a great interview!
I’m currently 20, turning 21 this year and I’m completing my undergrad in Finance and Accounting next year. I have a sudden realisation that I am really interested in Data Science and programming after taking some online courses online. I was in a dilemma as to whether I should drop my current course and go into CS, but my parents told me that since I’ll be completing my undergrad next year I might as well stick to it and learn programming on the side and try to venture into the next possible step after my undergrad. I was feeling rather anxious as to whether “it’s too late” for me to shift paths but listening through this video made me feel more assured and I am definitely going to try applying for MCIT in the near future. Thank you for putting this out and helping me feel less anxious and guilty about my undergrad degree and decisions :)
Just do a masters. If you are interested in DS the programming you need is not super complex. Try to learn both R and Python. It will open more doors. Also to start off focus on stats and simple ML, avoid deep learning. Good luck.
@@arbabhasan9425 hoping that we find our way through (also if you ever want to like connect and form some kind of community to learn programming/ DS on the side that would be pretty cool :)
Unfortunately the audio is quite bad (ambient reverb because of refective surfaces and the audio volume change when he turns his head while talking), which makes it pretty stressful listening.
Hi Tina. Love your channel. Especially love this video. I'm a 'beginner' quant trader myself. Built my own simple Neural Net EA in MQL5. I'm a CS major with skills in blockchain technology, Cybersecurity etc. Loved this video a lot because it gave me more insight into my side hustle so to speak, and helped me understand a few key things that I needed clarification on. Thank you. I don't know if it would be possible for you to interview a blockchain ML/Deep Learning researcher or scientist. Would really mean a lot since my thesis is based along those lines.
Would you consider going into quant trading? I've actually thought about it before! Alternative to Quantopian: www.quantconnect.com/ Thanks @Carlos Ishimwe! Timestamps: 00:00 Intro 00:40 His background 02:54 Why quant trading? 04:00 Why he did a masters in computer science 05:18 Day in the life of quant trader 09:23 Salary expectations + career growth 15:28 Words of warning 16:38 Why quant trading + how to get interview 19:22 Non traditional background? 22:14 Trading related projects 23:10 Interview tips 25:24 What math do you need 30:12 Quant trader vs research vs engineer 34:05 How stressful is the job 39:26 Lightning round 41:00 What he would have studied in undergrad 42:09 Advice for breaking into the field
Yes I’d like to know as well. I have spoken to someone who does quant trading and they recommended the book Active Portfolio Management by Grinold and Kahn. Curious what book he was referring to.
Hey Tina:)Your interview was cool. I'm trying to make a switch in Quantitative Trading. I'm an undergraduate CSS student(in the last year) working as an Ios engineer. I have statistics + ML/DL background. Can he define a roadmap for his domain? You know in Data science/ML research/SWE are differents sets of knowledge that's you should have to do the actual job.(programming languages+database+data structure+system design+frameworks)-That's for SWE From the interview, I understood that you need quantitative analysis, math, statistics but that's is too abstract what kind of stats, what kind of X do you need.
Great interview with wonderful questions! If there’s anything I would recommend, it’s having the chairs face each other. It feels awkward to see Worthan face the camera in front of him and then turn to his side to talk to you. And was the microphone recording? It sounds like it came from the camera.
I'm so glad you liked it! Also thanks so much for the tip! It definitely was a bit awkward filming it as well so that makes a lot of sense :) I've been having a lot of mic problems. I think it was from the mic because it said it was recording? But now that you mention it it does seem like that doesn't it? Audio quality has been getting worse and worse for my new videos too even though I haven't changed anything. Oh dear, I'll try to figure out what is happening. Thanks for letting me know :)
@@TinaHuang1 Looks like a directional mic (shotgun/cardioid). If that's the case you have to point it towards the sound source. In the case of this video, it seems you are recording more the echoes from the room.
This is one of the most realistic videos about the quant industry I've seen. They may not have touched on it, but the university you attend also matters. Coming from Canada, you need to attend Waterloo, UofT, or UBC to have the best chance at getting interviewed. ... Personally I recommend Waterloo's Computing and Financial Management undergrad. It's basically a double major between computer science and finance with 2 years of co-op. Every big company in US/Canada/China is recruiting nearly every semester. ... You've got Jane Street, GTS, Virtu, Citadel, DRW, Hudson River Trading, Capula, Morgan Stanley, HSBC, Goldman, the Canadian banks, etc. Plus the smaller quant startups, and the usual suspects: Google (hires 20-75 students per term from Waterloo), Facebook (~10ish), Amazon, Apple, Alibaba, Tencent, Huawei, Tesla, Bloomberg, Microsoft, Darwin AI, and a ton of other tech companies from NY, Silicon Valley, Austin, and Toronto. There's usually about 4000-11,000 job postings per semester for tech. ... Since y'all always want the pay figures, Citadel and Jane Street usually compete for highest compensation for interns. Pre-covid, it was $81-$83 USD per hour plus the housing stipend ($5000-$10,000 per month).
I come from an Econ background so I studied auctions in Game theory. I always wondered how to link ML with Game theory and this seems like an interesting application. Thanks for sharing Tina, you and your guests are always an inspiration.
With pleasure Tina, I explained it in a one page document so you can have an idea about Game theory and its applications: docs.google.com/document/d/1GVbfh9DrlXNVooZBPinc5gaAtJGuCPtksXxsxhrMRo4/edit?usp=sharing I hope this is helpful
I wasted my life in mechanical engineering... 15 years to reach senior level while making 500k? Mechanical engineer at 15 experience level make about 120-140k at the most...I guess if you are in the sciences and like trading go into it because your pay will be astronomically better.
Competition is also 100x more difficult in Quant ,you will be competing against many Harvard and MIT math geniuses , guys that are winning Olympiads , there is a reason those guys make 500k Also trading is job for young people , not something you will be doing in you 50s and 60s , so much less job security
Can quantitative trading be implemented outside of a firm, for individual use / personal finance? If so, are the creation of algos and other quantitative strategies efficient enough for that? I would imagine that, it can technically be applied, but it may not necessarily be effective since its less capital, compared to a firms. As well as, its more personal, so theres more emotion to it-- Also, I was looking to get into college to learn this skill.
hmm that's a hard question haha. Do you mean any degree at all or an unrelated degree? If the former, then no I don't think so. You could for software engineering but it would be very hard for data science. For the latter, if you have any sort of technical degree, including computer science, engineering, math, or physical sciences then yes you can without too much effort. If you have a business degree, you could do data analytics as a way of getting your foot in the door. For everybody else, I would recommend getting a masters. Hope that helps!
Thank you Tina this really helped me also. Been talking to some clients and they really told me to look into data science. I think the reason why they told me that is because I'm going to be going in the community college and you know it'll take a while to get some degrees and probably by then the industry will change
I just want to add you don't have to be a quant to trade options. I have studied math at Masters level, including financial math, so I guess I would be the type of person they would be after. I also worked as a senior programmer for a number of years. However, it is quite possible to make money with simple strategies and as your knowledge increases, it is enough for a decent living just by trading your own capital. Not millions or anything like that but a good steady income and even some left over for long term buy and hold investments. Best of all it only takes 5 minutes a day and you have a life basically doing what you want without money worries. Starting from nothing you can do it in about 10 years.
Nice work Is it possible to become a Quant if working in Risk management. Secondly I want to know is it possible to be a Quant after doing Masters in Financial Engineering
Hi, not sure if you will see this, but how much coding knowledge is required? Im planning to just get a cs minor with my stats major and I was wondering if that is enough.
Hey tina are you aware of any women in this role? I’m a cs major with a data focus and it seems like something I’d wanna do, I just don’t know how viable it is
It is really good video i just wonder if you are quant trader and have good salary after 2 or 3 years why they dont manage their money by their own without becoming quant in trading companies ? What is difference between quant trader in company and in house or by own small company ? Thanks a lot.
Is there a chance of getting a job if you have been trading profitably for over a year but tou dont have a formal education . You taught yourself math including probability , Calculus... via MIT Open Courses And most of your trading is automated via software you wrote
Hi! I’m currently not doing anymore reviews and still have a lot of backlogged resumes I’m afraid :( I’ll make a post if I’m going to do more reviews in the future though! In the meantime I highly recommend you check out the review of my own resume and the resume roundups I did with Ken Jee. Combined, I go through pretty much everything I look for in a resume :)
Hi, I am confused about where to start quantitative trading. I'm 17 years old, I have no background in programming but I've been trading stocks for a year now with technical analysis (discretionary trader). I want to study coding too but there are different end paths, I don't know which way is for the quantitative traders and engineers. With so much information on the internet, I don't know what to study first in relation to being a quant. I'm planning to take financial management in college, and study programming at the side. What courses online should I start with? Can you give me advice? Btw, your interview is a relief. Thank you.
Hi! I’m afraid I’m not qualified to answer this question. I recommend reaching out to Worthan on LinkedIn, who is generally very good and responding to people :) he doesn’t monitor this video’s comments though
Audio is terrible, but looks like you're just starting out. Will have to listen another time when I can have my finger on the volume to adjust for the varying levels during the interview. I suggest using inexpensive desk mics until your can afford higher end quality ones.
29:20 Any tips to do mental math faster? or is that guy a genius? my score with the default settings is 10, not 50! I coincidently was practicing my 1-12 multiplication for no reason on quizlet and got around top 30 on the leaderboard and thought I was good, I guess not against a quant.
mm I think he's pretty fast naturally but I don't think it's a skill that you can't learn. Just keep doing it! There's a lot of tricks to do fast mental math
@@youtubeaccount1718 With casual practice for 2 months, I got around 30 score. Genius is 150iq btw. I have a hunch if you score that well your iq is pretty high. If you know any guides and tricks let me know.
