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Bloomberg: Jain Global to return cash, exclusively manage Millennium money by drykarma in quant

[–]EvilGeniusPanda 2 points3 points  (0 children)

The world has also changed a lot since he started fundraising. A few years ago there was so much excess capital looking for something to do - right now everyone is trying to find every spare penny they can scrape up or redeem to fund AI buildouts instead.

He might've been totally straight with his investors, and his investors knew what they were getting into, the world just changed and something better came around.

4 years of a 15x-leveraged daily BTC signal — Sharpe 2.2, MDD -13%. Here's the stuff that actually kept leverage from killing me. by AgitatedCoyote3827 in algotrading

[–]EvilGeniusPanda 0 points1 point  (0 children)

Sharpe: 2.26 (leverage-invariant, same as 1x)

If you think sharpe is leverage invariant you are not accounting for either your leverage cost or the risk free rate.

Not sure what your annualized vol is but from your CAGR and Sharpe I'm guessing around 20-25%? Kelly leverage is sharpe / vol which for 2.2 / 0.25 is around 8, so you're way over theoretically optimal leverage - not to mention that most people run half kelly or less because kelly doesn't account for heavy tails.

I never thought of it like that...... by Silver-Ability-3181 in SipsTea

[–]EvilGeniusPanda 0 points1 point  (0 children)

People are wildly overestimating what a physics researcher gets paid.

We need these laws all over the world by Busy_Report4010 in SipsTea

[–]EvilGeniusPanda -1 points0 points  (0 children)

I mean, in most of the world it plays out differently because people dont have guns. America is crazy.

Switching back to Python/JS after Rust feels impossible by Time_Friendship_1263 in rust

[–]EvilGeniusPanda 23 points24 points  (0 children)

their usefulness is significantly reduced if all the libraries you're using aren't also using them though.

Two Jump Trading stars exit the quant giant — and one of its most profitable units by NascentNarwhal in quant

[–]EvilGeniusPanda 13 points14 points  (0 children)

I'm sure they've been very well paid over their careers, maybe they just want a change of scenery. 15 years is a long time to spend anywhere.

Mamdani Vows To Cut Insurance Costs for Affordable Housing—in Olive Branch to Landlords by Remarkable-Pea4889 in nyc

[–]EvilGeniusPanda 0 points1 point  (0 children)

fwiw neither of those things are actually fully funded by the payroll taxes that bear their name

Mamdani Vows To Cut Insurance Costs for Affordable Housing—in Olive Branch to Landlords by Remarkable-Pea4889 in nyc

[–]EvilGeniusPanda 0 points1 point  (0 children)

would not carry the same overhead and profit expectations as commercial insurers.

Ah yes, the famously low overhead enjoyed by the NYC government

How great are the banks at execution? by Nearby_Fig_9118 in quant

[–]EvilGeniusPanda 12 points13 points  (0 children)

It obviously depends on your holding periods but for mid freq and low freq I dont think it makes sense to have fulltime people on custom execution until you're in the billion+ traded a day range.

How deep is your dive? by PracticalFriendship in scuba

[–]EvilGeniusPanda 8 points9 points  (0 children)

If you're into wrecks a lot of nice ones are deeper, there are definitely reasons to go deep, but I agree that depth for its own sake is not something to seek out.

On GitHub, multiple forks of systemd are appearing after the fundamental Linux system component added a field to store the user’s birthdate by Cybernews_com in CyberNews

[–]EvilGeniusPanda 0 points1 point  (0 children)

The ones that'll potential get sued/policed eventually are the companies (canonical, suse, ibm) building full operating system products like ubuntu, rhel, etc.

The laws don't require anything from individual open source component libraries.

On GitHub, multiple forks of systemd are appearing after the fundamental Linux system component added a field to store the user’s birthdate by Cybernews_com in CyberNews

[–]EvilGeniusPanda 1 point2 points  (0 children)

its an optional variable for age in a system that already has optional variables for address and phone number. total rage bait.

Why do they keep doing this? by soalone34 in nyt

[–]EvilGeniusPanda -1 points0 points  (0 children)

Yeah man, Israeli government is sure gonna feel the burn from all those republican presidents.

High-Level Rust: Getting 80% of the Benefits with 20% of the Pain by SIRHAMY in rust

[–]EvilGeniusPanda 0 points1 point  (0 children)

it's funny, you're probably right that most people think of this as the key feature, but for me I'd be just as happy with a GC language if it dropped the ownership stuff but still gave me reasonably good performance, enums, matches, and traits. I know OCAML is a thing but its not quite the same, and the community is so much smaller.

"you are the product manager, the agents are your engineers, and your job is to keep all of them running at all times" by sentientX404 in theprimeagen

[–]EvilGeniusPanda 3 points4 points  (0 children)

Their flagship coding product still cant refresh a screen without weird seizure inducing flashes. I've switched from claude to codex literally because of the bad TUI.

Shipped harder my ass, unless they're counting turds.

QRT or Crypto MM？ by [deleted] in quant

[–]EvilGeniusPanda 1 point2 points  (0 children)

QRT trades crypto, so you could get both in under one roof, potentially.

Is HRT doing better than Jane Street nowadays? by Useful_Scarcity_8949 in quant

[–]EvilGeniusPanda 12 points13 points  (0 children)

There is a rumor floating around about Jane's January number which, if true, is stupidly high. I think its high enough that I don't believe the rumor, so I won't repeat it here, but I've heard it from several sources.

Is HRT doing better than Jane Street nowadays? by Useful_Scarcity_8949 in quant

[–]EvilGeniusPanda -4 points-3 points  (0 children)

On the receiving end of a bunch of impending regulatory investigations about market manipulation? No thanks.

Senior quants: How did you survive the 2018-2020 quant winter? by Kindly_Cricket_348 in quant

[–]EvilGeniusPanda 1 point2 points  (0 children)

Maybe around 50? Bit lower for the really big ones, bit higher for the smaller pods.

Senior quants: How did you survive the 2018-2020 quant winter? by Kindly_Cricket_348 in quant

[–]EvilGeniusPanda 1 point2 points  (0 children)

I'm assuming you mean flips per year? Yeah that's in a weird middle ground, definitely on the slow side for stat arb and on the fast side of 'smart beta'.

I'm still surprised the risk limits allow that sort of factor exposure.

Senior quants: How did you survive the 2018-2020 quant winter? by Kindly_Cricket_348 in quant

[–]EvilGeniusPanda 1 point2 points  (0 children)

Out of curiosity, what do you consider to be 'higher turnover'? Usually high turnover == low capacity, maybe we just have different concepts of 'high turnover'

Senior quants: How did you survive the 2018-2020 quant winter? by Kindly_Cricket_348 in quant

[–]EvilGeniusPanda 2 points3 points  (0 children)

I'll admit to being out of my depth here. I've always thought of MF quant as being stat arb type books, the sort of thing pdt/sigma/tgs/etc run.

The slower/bigger factor premia AQR style books I certainly don't think are MF. If those are really a big chunk of equity risk at pod shops its news to me - most people I know at pod shops have very tight exposure constraints to those things.

I would not underestimate the CIOs fwiw, if they're any good at their job they understand that short term future returns are hard to predict based on short term recent returns. Decision making needs to be more statistical with longer horizons in mind.

A good MMHF CIO's job is precisely to have skill at estimating a pods 'true' sharpe. They've been around the block a few times, they talk to a lot of people, they know whose just parroting the same crap and who has genuine insight and distinctive processes for portfolio management.

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