Interesting article
but articles like this make me rather sad... Who are we working against, colleagues?... against people who have the best mathematicians armed with supercomputers that take up half the football field... ...and we're trying to outrun them with our "pisukes" with our "incomplete higher education"...?
"To the madness of the brave we sing..." :)
but articles like this make me rather sad... Who are we working against, colleagues?... against people who have the best mathematicians armed with supercomputers that take up half the football field... ...and we're trying to outrun them with our "pisukes", with "incomplete higher education"...?
"to the madness of the brave we sing a song..." :)
let me tell you, there are some laws of nature...
Sometimes a small fish has a better chance of surviving than a large shark
let me point out that there are certain laws of nature...
sometimes a small fish has a better chance of surviving than a big shark.
>> yeah... That's what I thought, especially if the fish isn't edible... especially if it's got some poisonous barbs... What do you think might play the role of "poisonous barbs"? What are our trump cards for not getting eaten? What do you think?
let me point out that there are certain laws of nature...
sometimes a small fish has a better chance of surviving than a big shark.
But they're a long way from being a MC ... )
The only thing you can counter is your own brains. There are very few people/organisations around the world who engage in speculation without self-deception or rose-tinted glasses, i.e. with extremely sound assessments of their trading systems.
yeah... that's what I thought: especially if the fish isn't edible... especially if it's got some poisonous barbs... what do you think can play the role of "poisonous barbs"... what are our trump cards for not getting eaten? Your opinion...
I'm sorry, I'm not an expert in biology or the like,
If I were a biologist /or the like/ I would give you concrete examples and lecture you on when small creatures adapt better to life...
As for MCs...in the last 5-6 months, the number of MCs in bovines has gone up like manure in a cattle farm.
The only thing you can counter is your own brains. There are very few people/organisations around the world who engage in speculation without self-deception or rose-tinted glasses, i.e. with extremely sound assessments of their trading systems.
>> yes... just hope that there are not many people like Simons among the "sharks"... because I don't have any confidence that my brain is any better than the guys that work for him...
Highlighted the Scariest thing for our forum: Underperformance for the Year
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Here are just some figures from the official statistics. From late 1989 to 2006, Renaissance's original hedge fund, called Medallion (now about $5 billion), returned an average of 38.5 per cent annually to depositors. And the return figures for Medallion depositors refer to the net benefit - already after Renaissance has deducted 5 percent of the initial deposit for management services and 44.percent of the return. Such percentages, it should be noted, are about double the cost of similar services provided in the market by other firms.
There are clearly brilliant and unbiased trained brains working for Simons, it's all clear here. On the other hand, the volume of operations does not say anything about the competence of those who conduct them (an example is the recent scandal with the trader from "Suck it, General").
P.S. About the "brilliant" I may be overdoing it. One can limit oneself to just a confident background in a few theoretical courses from physics that implicitly use terver/statistics. And you don't need to be some kind of doctor of eminent science to come up with a more or less clear idea of a trading system. You just need to see inside the TS the terver models, which have been known for a long time, rather than talk smartly about fat tails and other hard to formalize effects.
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Published in Computerra magazine #8 dated 25 March 2008
A year and a half ago in a great review.analytical article of "Computera" [L. Levkovich.Maslyuk, "Automattorg: Digital traders overtaking squirrels?"], devoted to software.robots, or "auto-brokers" engaged in trading on exchanges instead of humans, an interesting fact flashed through. According to Vasily Yakimkin, one of the leading Russian experts in the field of financial markets, the demand for such robots is so great that, for example, most of the graduate students of the Faculty of Mechanics of Moscow State University (specialists in probability theory) have contracts with American brokerage houses to create algorithms and auto-broker programs. Yakimkin himself, however, was skeptical of this hype and of robots' effectiveness, considering this technology as an auxiliary one and applicable only for a very limited class of tasks.