I'm in the ibanking risk technology space, and while I've never been in your position, I'd be happy to bounce some sales ideas back and forth
my first concern would be: what do you offer over riskmetrics, that couldn't be a feature in a larger offering? most of the work in utilizing third part software is data normalization over the inputs, so you've got to have a compelling use case
e-mail me web at foobox dot com if you're interested
i agree with this explanation - what will be interesting to watch is where these coders wind up:
* hyper-secretive buy-side firms like SAC decide there's a labor opportunity, and these blogs are shut down in short order
* some PG figure emerges to steer these promising technologists into the light; i know roger ehrenberg has tried to step to the plate in this regard and what i've gathered from the sidelines is that this is easier said than done
* they compromise on building sell-side execution platforms, who would be more tolerant (more apathetic is probably closer to the mark) of blogging and we start to see a real banking technology community form
the third option is the one i'm betting on and hoping for.
I think you're saying the same thing, but I agree deathflute has stated the problem more clearly from a business perspective: the strategies do not scale, yet they need to reinvest proceeds into the business to remain competitive. the result is more technology to execute the same strategies faster, rather than mitigating risk by diversifying into new strategies. this is why people call HFT an arms race.
i tried to post this comment on your post on religion:
i get where you're coming from, but you've convinced yourself you're smarter than others and that makes you less happy, probably because other people (rightfully) view you as a dick... if i were you i'd consider giving some thought to big issues of international coordination our governments face, things like what if someone such as yourself were in control of a big red button to drop a nuclear weapon
i consider myself more right-brain leaning than many in this field, but i still consider this nonsense. wtf does, for example, knocking about on foreign adventures have anything to do with making a great app? ok great, resourcefulness, but show me something relevant if you want $1k an hour
if he has some experience other than coding that makes him so fit, he should mention it, but this is pure bravado, and that doesn't sit well with me
Doing event-driven trading isolated in the Cayman Islands without any sort of insider connections is a recipe for failure.
There are lots of high-frequency trading shops that could put your engineering chops to work, most of the shops are small enough that I'm sure they'd be happy to offer you some form of partnership with your spare cash. HFT strategies have very definite limits on lifespan and investment cap, but tend to produce out sized returns (yes, 10x).
in politics relative merit is what gets things done (Hint: you can get around this by starting your own libertarian paradise on some uninhabited island, may I submit the name "jackassland" for your consideration)
although i appreciate your attempt at libertarianism, your logic is non-nonsensical: you attack regulation without offering an alternative or re-defining the problem
sure but you can't attach moral obligation or duty to a corporate entity, all you can do is regulate (and we are trying...)
to tie the two together, i don't believe regulators are paying nearly enough attention to how incentives have changed over the past 15 years and why board of directors have become powerless to common sense in this arena
Do it, I worked in HFT for a year and enjoyed it. It's a small and secretive world. People that go this route don't tend to start up "how to" blogs on HFT, and you'd likely be shunned by the community if you did.
From how you describe your experience of teaching yourself to not only create a working program via independent research, but also recognize it's flaws and refactor afterwards, I have no doubt you could find some level of success in the industry. Not being able to "execute on your ideas" is not that important in many micro-managed niches of the industry, which are not great gigs in the long run, but are good if you are starting out and need to develop perspective on "getting shit done". Be humble and look to learn - you'll be fine.
I'm a bit confused on the Columbia thing - if it's 5 years instead of 4 - go for it, education is the best investment you'll ever make. If it means 4 more years after undergrad: just go work, it's probably not worth getting out-of-sync with your age cohort.
Ridiculously techno-centric comment. You cannot replace trust with a shell script. IT has the profound ability to tell us, with amazing detail, the state of the world today. But business planning is done based on the future, and that requires trust.
Even if you are "building the future" in a startup: if you've taken funding or are drawing salary, you've convinced someone about a possible future state of the world, and that requires trust.
> 'Nature follows from the basic mathematical assumptions.'
This statement is more treacherous than you give it credit for. If we understood all those mathematical assumptions, wouldn't that be the death of free will?
One might make the statement that mathematics is the act of discovering god's laws, but godel makes even that statement treacherous because he proves god's laws can never be consistent.
my understanding of the modern philisophical take on mathematics is that it's just the invention of useful tools for manipulating logical entities, which can seem rather pedestrian to the layman - but will never deter a true mathematician
seems like a fairly interesting problem to me - or am i idealizing? i suppose some developers would rather work on language/framework problems than data analysis problems...
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