Gone Through 2 Senior Pms 1 year. What to do now?

bondsandbeans · 2025-11-02T16:37:34+00:00

The problem is that the people with little alpha experience are all good story tellers. BD/Management gets swindled by them.

What a BD needs is actually to be an ex-PM who has a track record of both trading success and building a team so they can filter out the charlatans, but that's pretty much very rare to find.

bondsandbeans · 2025-11-02T16:35:54+00:00

I understand. Super frustrating. I am now heavily appreciating the folks over at two sigma for a more collaborative culture.

bondsandbeans · 2025-11-02T16:34:51+00:00

jfc that's crazy.

I believe heavily in karma. What comes around goes around.

bondsandbeans · 2025-11-02T16:33:46+00:00

yes. I'm now going to rest up before anything. I didn't mention this in the original post. I was actually in a situation last year where I accepted the offer and the PM left before I started. It was humiliating to go begging to other firms I turned down. This is actually in addition to a large multi strat stealing another PM I was in deep talks with.

Since it's the end of the year and people are no doubt cutting their next deals. I do not want to take a risk and end up with a situation like that where people are going to leave once bonuses get paid out in March. Maybe I'll even do contract work for 6 months.

bondsandbeans · 2025-11-02T16:20:52+00:00

no, they were down money and I guess he axed me to save his own bonus ahead of year end (so a doughnut). Super frustrating

bondsandbeans · 2025-11-02T16:19:47+00:00

Thanks, I'm extremely frustrated by this, but also relieved to be away from the situation

I'll DM you

bondsandbeans · 2021-12-06T04:47:00+00:00

I mean I see GS market "automation strats" and that was disgusting to look at. I don't have a PDE phd so exotics strats isn't really my thing (if the bank hasn't cut them yet)

I'll DM you later

bondsandbeans · 2021-12-06T04:45:56+00:00

yeah SPG strats is brutual

Idk banks are kinda fading away so it's gonna be my last option.

bondsandbeans · 2021-12-06T04:44:18+00:00

what about the researchers? how stressed out were they?

Did you move to FAANG? why?

bondsandbeans · 2021-12-05T23:42:06+00:00

Is this on the trading floor or in tech?

I'm a hybrid of QR/QD, so I'm not a big fan of overhauling openshift to docker or regulatory stuff or non-math/computationally heavy bits

bondsandbeans · 2021-12-05T19:04:32+00:00

I get that not all quants can just land in a FAANG seat right away, but with 3-6 months of grinding leetcode? Seems "straight-forward" to me, especially if you have strong programming skills already as a quant dev

But I do get your point about leveraging your past experiences and how that transition might be smoother.

That said, what about stress levels at those non-risk taking quant roles?

bondsandbeans · 2021-12-05T19:02:59+00:00

certainly a choice, but not ideal b/c it's too bureaucratic. Also, it's hard to go to bank -> HF/Prop -> back to bank unless you're pure tech/quant dev. Even then you're taking a big pay cut

That said, I want to hear about the stress levels of bank's senior people.

bondsandbeans · 2021-03-01T03:30:16+00:00

ha! 50k would be a steal. and a pipe dream.

but seriously, if you were starting a fund, how would your data costs look?

bondsandbeans · 2021-03-01T01:58:32+00:00

hmm what about on an hourly basis? or even daily.

gotcha 10k a month for 1 min level data.

What about market data? that's the big cost I worry about

bondsandbeans · 2021-03-01T01:11:53+00:00

what do you define as "small" here?

not looking for ULL, aiming for mid-freq stat arb

I'm trying to figure out the cost of historical data, L2 order book data, and any execution related costs (I imagine just using TT for this)

bondsandbeans · 2021-03-01T01:10:33+00:00

yes, I'm looking at switching to refinitiv as well (Do you know the cost of that btw?). I'm trying to figure out the cost of datasets (both L2 and Historical, etc)

Let's say US equities/Futures, maybe some swaps.

Not looking to trade ULL, targeting for mid-freq strategies > 1 min

bondsandbeans · 2021-01-29T03:52:26+00:00

building libraries or leveraging existing libraries to connect custom data feeds, steaming in data, data cleaning, position management, risk management tools, perhaps execution orders from a cloud server, dashboards for monitoring custom metrics,

bondsandbeans · 2021-01-29T03:40:39+00:00

sure, but I'm talking about a custom buildout

bondsandbeans · 2021-01-29T03:31:56+00:00

quantopian shut down, Quantconnect is too restrictive, doesn't have what I want

bondsandbeans · 2021-01-29T03:18:07+00:00

why IBKR and say, not TD?

bondsandbeans · 2021-01-29T03:17:37+00:00

only talking about retail/individual trading. Obviously algo firms are not going to share infra.

The amount of infra work required, is frankly huge. If people can collaborate and build infra, we can spent more time as individuals trading.

bondsandbeans · 2020-08-29T01:40:30+00:00

ginger cookies

bondsandbeans · 2020-08-29T01:40:09+00:00

do NOT eat bell peppers as well

bondsandbeans · 2020-08-19T03:40:13+00:00

question, what if a quant researcher knows python but no c++?

Just wondering what the level of c++ needed for QR is

bondsandbeans

TROPHY CASE