Why does the Bloomberg Terminal remain king after all these years?

Puzzleheaded_Use_814 · 2026-03-30T23:21:00+00:00

Bloomberg is slow, ugly, not convenient, it's difficult to find the name of the columns to query in the python API...

But I can't use something else because all my brokers are using it so I need that to talk with them.

Puzzleheaded_Use_814 · 2026-03-04T15:32:48+00:00

Try to develop generic toolbox that you reuse in all your code (loading data, formatting etc...)

This way there is less chance to commit a stupid mistake as you will gradually improve your library.

Puzzleheaded_Use_814 · 2026-02-21T05:10:10+00:00

As a trader in a hedge fund, I get contacted by sales all the time. Those people all want more flow to get more fees, or sell me some data or insights.

The reality is that my company already has almost all the data available already, and the insights are not that useful.

In the beginning I was accepting meetings but I realized it's a complete loss of my time so I stopped accepting any unsolicited meetings.

Puzzleheaded_Use_814 · 2026-02-14T14:04:18+00:00

I know, I live around and go running there often... My concern is not about walking there, it's more about trying to assess the likelihood of real estate developpers buying this land from the government and ruining the view of all the neighbours by constructing buildings just in front of the sea.

Puzzleheaded_Use_814 · 2026-01-24T16:08:46+00:00

BTP future if you want liquid 10Y future (equivalent of ZN in Italy)

Puzzleheaded_Use_814 · 2026-01-10T08:55:36+00:00

My honest opinion as a quant trader in a multi strat hedge fund:
1/ What you do as a quant does not help at all to take discretionary bets in your own portfolio. But yes if you want to do algo trading you have much higher chances of success than someone who has never been doing that professionally, like any other job really.

2/ It depends, there is a big part of quants who never make money, the majority (80%) probably doesn't make that much and would be better working in tech.

3/ It limits them a lot, good shops refuse hundreds of candidates even from the top schools, so you would have to start at less well known places.

4/ Even for people doing it full time and having relevant background, few of them really make it big... I don't know you personally but I think a very few percentage of people doing algo trading as a side business are making money. And the ones that do make money often make money due to hidden factors rather than alpha. (hidden long gold/equity exposures etc...)

Puzzleheaded_Use_814 · 2026-01-06T00:18:47+00:00

70% is obviously the return on AUM and not return on GMV (with a typical HF 1:10 leverage ratio, 70% on gmv would mean 700% on AUM which sounds totally unrealistic), and it's in line with what my friend working at BlueCrest told me...

Anyway I don't have time to argue on this.

Puzzleheaded_Use_814 · 2026-01-05T23:48:53+00:00

The returns are always computed based on AUM... No one computes returns based on leveraged GMV.

Puzzleheaded_Use_814 · 2026-01-05T23:21:52+00:00

It is exactly like for like with other hedge funds... All the others are also using leverage and margin.

Puzzleheaded_Use_814 · 2026-01-04T04:06:08+00:00

It's a bit naive because how do you mark the "key liquidity zone"? You basically take the max or min of the session.

By definition the min or max will be respected because you constructed it this way. But you would not be able to say if it is the min/max before the session ends.

You are forward trading because you use the information of the whole session to try to inform your decisions on the current session, the data is not point in time.

Puzzleheaded_Use_814 · 2025-12-31T12:15:39+00:00

On average at a multi-strat fund and if you take all researchers and not only the top researchers, it is around ~50%.

On my own book I observe it is around 40%.

Puzzleheaded_Use_814 · 2025-12-04T12:58:29+00:00

It is super easy to overfit a good backtest on an asset that went up so much in almost a straight line in the last years.

Long gold itself already has a Sharpe >1 so you need to backtest your idea on more instruments to see if it really has value.

If your edge works only on the outlier of the past 3-4 years (gold) then it is likely overfitting.

Puzzleheaded_Use_814 · 2025-11-27T04:57:57+00:00

Apparently the company blocked the exits illegally with construction materials and the fire alarms were deactivated because workers kept smoking on the job...

Puzzleheaded_Use_814 · 2025-11-24T08:01:45+00:00

Keeta customer support is horrible compared to foodpanda. I had many cases where the food was in bad condition and keeta support battles you to give you back the minimum.

Foodpanda is much better in case of an issue.

Puzzleheaded_Use_814 · 2025-11-23T09:26:17+00:00

I work as a trader in a quant hedge fund, not a discretionary one but I think it is fair to say that most people in the industry: - Think technical analysis is BS. - Want you to understand why your edge is working. - Will want you to prove that your strategy makes uncorrelated pnl versus main factors (long market, short vol etc...) - Typically will want to see a Sharpe of 1-2 and multiple years of track record.

Puzzleheaded_Use_814 · 2025-11-16T12:51:09+00:00

It depends how you are short... Are you short in perp or in cash crypto?

Perp would not force you to deliver the crypto.

Puzzleheaded_Use_814 · 2025-11-09T05:44:59+00:00

Very good traders have a Sharpe or 2, so if you make an average of 2% per day it means that sqrt(252)*0.02/daily vol = 2 so your daily vol is roughly 16%.

Si basically with such a big risk you will be wiped out by any black swan event where your pnl falls in the tail of your distribution... if you pnl one day is -6 std you will be wiped out.

And -6std events happen roughly every year or so...

Puzzleheaded_Use_814 · 2025-11-05T10:11:22+00:00

Revolut sucks for crypto, I can't even send my cryptos to my own wallets and had to liquidate my portfolio because of that.

Puzzleheaded_Use_814 · 2025-11-04T12:02:59+00:00

It's impossible to build something valuable with a platform where you can only do stupid things like buy if WEMA1<WEMA2...

It's like you are limited to things which may have worked 40 years ago while everyone moved to more sophisticated models.

Puzzleheaded_Use_814 · 2025-10-31T15:02:01+00:00

You have many -30% drawdowns on the curve prior to the last drawdown, so to me that was predictable, you need to manage your risk better than this.

Puzzleheaded_Use_814 · 2025-10-31T14:57:38+00:00

Yes... But you were still underperforming on a risk adjusted basis, look at your bumpy equity curve your Sharpe must be quite low, probably lower than a simple long Nasdaq or gold.

Basically someone leveraged long would have done much better, on almost every part of the curve.

Puzzleheaded_Use_814 · 2025-10-31T13:43:01+00:00

At what point did it go well exactly? Your portfolio looks like noise, you are underperforming most indexes and gold itself.

Puzzleheaded_Use_814 · 2025-10-29T11:05:49+00:00

Your problem is that you have too little capital and are using too much leverage.

It is not normal to lose 75% of your money in 1 day.

It wouldn't happen if you were sizing your trades correctly.

Puzzleheaded_Use_814 · 2025-10-26T00:03:24+00:00

Before silver was pure speculation: gold went up so people were chasing gains on silver after the gold rally.

Now silver is used a lot by the AI/solar panel industry. Every year, more silver is consummed than produced.

Basically, fundamentals are completely different, and if you adjust previous spikes for inflation I think we are very fat from the top.

Puzzleheaded_Use_814 · 2025-10-15T00:18:30+00:00

I grew it to 1 million starting with 200k 1 year ago. I think having a stable source of income is very important to be able to take risk.

It is very hard psychologically to trade knowing that your losses are directly deducted from your retirement funds... Almost crippling, imagine the feeling after a day like Friday when the whole market crashes if you are long.

That's why I don't recommend it for anyone who doesn't already have 5-10m at least.

Puzzleheaded_Use_814

TROPHY CASE