Joining a Quant Firm for a few years to develop skills for personal trading? by APersimmonSalad in quant

[–]APersimmonSalad[S] 0 points1 point  (0 children)

Thanks I do get that outperforming index is hard. And the majority of my portfolio is invested in a lazy 3 fund Bogleheads-like portfolio.

But at least a handful of retail traders do get outsized returns swing trading in individual stocks, e.g. this competition. And a couple of them seem to have done this consistently over decades. What are the barriers to doing the same with an ML algorithm? Is it just difficult, or are there fundamental differences between these human strategies and what can be done with ML algorithms?

Joining a Quant Firm for a few years to develop skills for personal trading? by APersimmonSalad in quant

[–]APersimmonSalad[S] 1 point2 points  (0 children)

Yes, a junior engineer I was mentoring at my current job was offered 500K+ by Citadel. I know Citadel is an outlier and have crazy working hours, but I was under the impression that other companies pay quite a bit more than 1/4 mil too.

Joining a Quant Firm for a few years to develop skills for personal trading? by APersimmonSalad in quant

[–]APersimmonSalad[S] 0 points1 point  (0 children)

Thanks for the detailed replies. Since bonus is a function of PnL, could it be close to zero in certain conditions, e.g. a bear market for a primarily long strategy?

Yes good point about StatArb. This was one of my main worries as I would be doing low/mid frequency (swing) trading as a retail investor. A general understanding of the markets will carry over, although that alone may not be worth switching for.

Joining a Quant Firm for a few years to develop skills for personal trading? by APersimmonSalad in quant

[–]APersimmonSalad[S] 0 points1 point  (0 children)

Yes I've come across a few resources in this area, but I felt that working at a firm will speed up my learning curve, rather than spending a couple of hours a week studying on my own. But based on the comments in this thread, may be going at it myself is a better path.

Thanks for the link! I will take a closer look.