Help Wanted: Quant for Model Development
By Barry Ritholtz - January 27th, 2010, 10:30AM
A successful fund manager friend is developing a new Model for running assets. He has a solid math background, but needs a good quant to help him develop and refine his approach.
He is looking for two people — a college grad/student, and a PHD mathematician. They run a variety of different types of long term asset management and ST trading algos.
For you math whizzes, Send email to Quant for Model Development
Here is his Bloomberg advert:
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January 26th, 2010 at 12:04 pm
Research/Asset management firm is looking for a quant to help develop and refine quantitative asset allocation model for long term assets, as well as a shorter term trading model for stock selection.
This is a short term consulting project that has the potential to turn into a full time job. Compensation is flexible, either salaried on a work-for-hire basis, or P&L/Asset driven.
Prior algorithmic experience necessary, Programming background helpful.
Intern college grad/student will also be considered to work with a PHD mathematician on this project.
Email to info@institutionalalgos.com, subject Quant for Model Development.
January 27th, 2010 at 10:45 am
I’m not a quant Barry but hanging out with and developing models is something I wouldn’t mind doing at all. You were saying that guys in your industry get to hang out with lingerie models so where do I send my resume?
:razz:
January 27th, 2010 at 10:47 am
OOC,
what level of Research budget does this Fund devote to ‘Narrative investigation’?
you know, a.k.a. Intel gathering/HumInt..
http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=HumInt
OOC (out of curiosity)
January 27th, 2010 at 10:50 am
I’m thinking maybe a Community College course or two might qualify me. What do you think?
January 27th, 2010 at 11:06 am
BR….in timing to your post. Did you see his bit of humor over at “NC?”
——–
Wednesday, January 27, 2010
How Many Quants Does It Take to Screw in a Lightbulb?
Some comic relief from reader Matthew G:
How many quants does it take to screw in a lightbulb?
Using ten racks of co-located blade servers, one quant can detect a janitorial inefficiency, step in between janitor and light fixture, and screw in 49,500 bulbs in less than a millisecond, keeping five hundred lightbulbs of profit.
Two quants competing with each other can screw in 99,998 bulbs in a millisecond, with each quant retaining a profit of one lightbulb.
When ten quant firms try to screw in a light bulb, the bulb explodes, the light fixture gets ripped from the ceiling, the building falls down, the entire electrical grid of the city of Greenwich shuts down, innocent civilians all over the world have their retirement accounts electrocuted, and the Federal Reserve has to give the counterparties of each quant firm five hundred million light bulbs to maintain the stability of the system.
Afterward, each of the ten quant firms subjects its strategies to a probing and relentless critique, hires fifteen additional Ph.D.’s from MIT, Cal Tech, Harvard, and the Indian Institutes of Technology, buys four new supercomputers, and searches for new arbitrage techniques and algorithms. Independently of each other, each of the ten firms develops the same brilliant and innovative strategy of “Knock knock, who’s there?” arbitrage.
http://www.nakedcapitalism.com/2010/01/how-many-quants-does-it-take-to-screw-in-a-lightbulb.html
January 27th, 2010 at 11:34 am
I developed a model slash simulator once. Without a Math PhD or anything.
It pretty much proved that all systems fail. Teresa Lo suggested I setup a subscription service where people would pay to have their (or other’s) systems debunked, the James Randi of the financial marketplace if you will.
Didn’t seem to be the kind of thing people wanted to hear or would want to pay for…
January 27th, 2010 at 12:24 pm
LOL! @ TakBak04
That’s funny,
The only thing the joke didn’t mention was that GE was a counterparty :)
January 27th, 2010 at 7:42 pm
House Banking Committee Hearing:
Mr. Frank: Well, Mr. Blankfein, didn’t you learn your lesson in 2008 that quantitative algorithms were not only dangerous, but complicit in the financial Armageddon we almost fell into?
Mr. Blankfein: I wasn’t aware that this was a problem. I mean, our investors are sophisticated and know that these types of thing must be done in order to compete on the Street.
Mr. Frank: Very well, Mr. Blankfein. You can go. Now, Mr. Dimon, did you not understand what you were getting yourself into?
Mr. Dimon: It was John Mack’s idea; don’t blame me.
Mr. Frank: Well, Mr. Mack…?
Mr. Mack: Don’t ask me; I was busy packing for retirement. I think I will take up bridge.
January 28th, 2010 at 1:31 am
Here’s my free algo for anyone with market moving ability:
Buy a shitload of near term out-of-the-money calls(puts) on XYZ, and follow soon after by issuing a buy(sell) recommendation on XYZ.
January 28th, 2010 at 6:16 pm
……and soon after the fire is out, Mrs. O’Leary places a classified ad for a new cow and lantern.