To be honest, the competition is so great right now, they expect the candidate to be both strong on the coding side (python or c++ or c sharp) and strong understanding on the financial side, not just what the products are but also the underlying groundwork i.e. black Scholes, martingales, aspects of Risk and Return Portfolio Management etc. Everyone is looking for a shortcut but that is never the case, its a grind whichever way you look at it. Colleges do matter, if youre a graduate of one of the top schools in the mid west area, you will get picked up by Chicago based firm easily, same applies if youre in the NYC area so places like Columbia, NYU, Stevens will have a bump just based on the level of alumni that exists.
future quant developers don’t use tiktok, at least, people who are serious about it. people who will put in the hours to learn instead of doom scrolling
He's probably trolling and is unaware of what's happening in the world. With that said, a lot of devs in security and healthcare are having to do palm prints to work. Biometric palm prints are like DNA, unique to one person. Those prints are encrypted into a number. As we keep moving toward an Orwellian state it's likely you won't be able to participate in modern society without a palm print on file. Buy groceries, travel, rent an apartment, buy a car, etc. This will coincide with CBDC's and blockchains. I've said too much, oops.
So, with respect to how proprietary trading firms make money - is it really the case that they are earning returns above something one would earn when investing into a wider stock market/index fund? And most importantly, are they really doing this consistently over the long-term? I suspect the answer is yes, else such firms wouldn’t exist, but it’s still kind of hard to believe that each of these firms is on par with someone like Renaissance Cap.. Or is the stock market really big enough for multiple such players? Really have been struggling with this for sometime. It would be nice to hear your view on the subject in a form of a short video
Including fees? Sometimes... You also have to think about the purpose, many firms have (or at least market themselves as having) a different risk/return profile that is not always correlated with the stock market. Rich people and institutional investors are not dumb, exclusively looking at performance and saying "just invest in index funds" usually misses the point
I work in Chicago prop trading at a competitor of Coding Jesus’s firm. Yes, they make WAY more than what you’d make investing in an index fund. Understand that they aren’t “investing” they’re trading hundreds or thousands of times per day. So it is apples and oranges to make such a comparison. They have to pay millions in tech infrastructure to collocate their server on the exchange floor, and pay millions in quants, trader, dev salaries. So that eats in on a lot of their profits, but it is still a very lucrative space obviously.
Retailers can’t take advantage of it. They pay millions in infrastructure costs to collocate their server on the exchange floor, or have microwave towers to arb between ES futures and SPY ETF milliseconds faster than any retailer can wish to. They’re also established members of CME/CBOE and have registered member privileges like largely reduced fees if they market make for at least 90% of the day to add liquidity to exchange products, etc. It is a totally different game from some casual retailer trading on E-Trade. The barrier to entry to trade at the level of a prop firm is a totally different animal.
@@disterasd123 just Google this question and books and online resources will show up. Lots of tricky probabilities and stats questions over multiple rounds of interviews.
I'm 99% sure it should be D. The first one has the left shaded, right shaded, and then both shaded. The second has the top shaded, bottom shaded, and then both shaded. The last one has the bottom AND left shaded and then the top AND right shaded. If you combine both, the top, bottom, right, and left will all be shaded. So everything except the center.
