3 ms·

If your goal is to do something to make a difference in the world, are you sure you want to become a quant? I think you may be misleading yourself about the de

by pg 17y ago

If your goal is to do something to make a difference in the world, are you sure you want to become a quant? I think you may be misleading yourself about the degree to which you can participate in that world without becoming part of it. Swim with the sharks, and you become one. Why not make money the way Larry & Sergey or Jobs & Woz did, by creating wealth?

cleancode 17y ago
Well, great insight.I haven't thought about it. You changed my opinions. But as you know when you master your expertise after 10 years you can make a lot of money by investing. These people are rare exceptions. I am just not sure if I can invent something so great as they did. I am also interested in computer security. I would love to create OpenBSD-like user-friendly system and sell only hardware like Apple. But it is so improbable. Masses are not interested in secure system. They want a pretty and easy to use system. So it is really hard to work on things in which you have passion, interest and make big money as well. My main tendency is to donate research. There are smart people who are short on money. I could pay for their education etc. Creating another Google is hard task, but make money for honest poor student is not so hard. It is quite difficult to make a decision now.
- gtani 17y ago
  Try to do database web apps or whatever technology, for non-profit organizations in your area. It's a great experience, meeting different kinds of people, and you can often choose your technology. I've worked with blind and people with all kinds of disabilities, and for a women's shelter.
- pg 17y ago
  Successful traders are also rare exceptions. In fact I suspect the odds are better for making money by creating wealth than by speculation, especially if you're willing to work in less sexy domains.
  - cleancode 17y ago
    I suppose you are right. Thank you for your time and advices. Now it is time to think about new ideas for a while. :)
    - pg 17y ago
      Make something you wish someone else would start a company to make for you.
  - nearestneighbor 17y ago
    Some people love math and algorithms, and hate web/GUI/iPhone programming.
    - cleancode 17y ago
      I feel the same about this. In fact, I refused to work in web industry before. I did CSS|XHTML|Wordpress customization, but I just didn't feel that right feeling.
- ErrantX 17y ago
  > I am also interested in computer security. If your smart, can do some programming and are able to think on your feet this is a multi billion dollar industry right in front of you :)
ggruschow 17y ago
I'm probably not quite as successful as PG is in his space, but I've done embarrassingly well in the area under discussion. Sadly, I can't disagree with the assessment about studying to become a quant. Odds would be higher if you simply picked up the books and tried to trade yourself. Otherwise you'll likely be sucked up into a big firm and get lost in that mess. That said, I don't know what the relative odds are vs founding Google or Apple. It seems kind of like wondering which state's lotto to put your money in.
- nearestneighbor 17y ago
  What books do you recommend?
  - ggruschow 17y ago
    Sorry, I meant in regards to trying to change the world or whatever. I can't recommend books for self-studying trading. It's a bad idea, and probably an ill-conceived one at that. If you must though: 1) Read an overview of how the products and exchanges work like Hull or Wilmott. 2) Read every single post on elitetrader and nuclearphynance, and note links that may be interesting. This'll be confusing, boring, and frustrating because you'll be digging through nearly 100% crap. That's the point: almost all trading concepts and ideas touted are crap. Reading through this stuff will give you a feel for that, maybe give you some ideas, and serve as a helpful guide for your further learning. 3) Go follow-up on the links that still seem interesting. 4) If you make it to this point.. screw it. Email me. If you're good at programming, system administration, or statistical analysis, I'll probably give you a job. Otherwise I'll help you take the next step or get your foot in the door somewhere else.
jayruy 17y ago
> Why not make money the way Larry & Sergey or Jobs & Woz did, by creating wealth? Why not make money the way David Shaw or Jim Simon or Paul Wilmott did, by adding liquidity to global markets that have modernized economies and provided stable living conditions for communities that came from nothing. Or you could make fun tech toys for the most privileged 1% of the world. Of course neither side is that simple, but please don't mistake PG's preaching for the truth.

by pg 17y ago

cleancode 17y ago

Well, great insight.I haven't thought about it. You changed my opinions. But as you know when you master your expertise after 10 years you can make a lot of money by investing. These people are rare exceptions. I am just not sure if I can invent something so great as they did. I am also interested in computer security. I would love to create OpenBSD-like user-friendly system and sell only hardware like Apple. But it is so improbable. Masses are not interested in secure system. They want a pretty and easy to use system. So it is really hard to work on things in which you have passion, interest and make big money as well. My main tendency is to donate research. There are smart people who are short on money. I could pay for their education etc. Creating another Google is hard task, but make money for honest poor student is not so hard. It is quite difficult to make a decision now.

gtani 17y ago
Try to do database web apps or whatever technology, for non-profit organizations in your area. It's a great experience, meeting different kinds of people, and you can often choose your technology. I've worked with blind and people with all kinds of disabilities, and for a women's shelter.
pg 17y ago
Successful traders are also rare exceptions. In fact I suspect the odds are better for making money by creating wealth than by speculation, especially if you're willing to work in less sexy domains.
- cleancode 17y ago
  I suppose you are right. Thank you for your time and advices. Now it is time to think about new ideas for a while. :)
  - pg 17y ago
    Make something you wish someone else would start a company to make for you.
- nearestneighbor 17y ago
  Some people love math and algorithms, and hate web/GUI/iPhone programming.
  - cleancode 17y ago
    I feel the same about this. In fact, I refused to work in web industry before. I did CSS|XHTML|Wordpress customization, but I just didn't feel that right feeling.
ErrantX 17y ago
> I am also interested in computer security. If your smart, can do some programming and are able to think on your feet this is a multi billion dollar industry right in front of you :)

ggruschow 17y ago

I'm probably not quite as successful as PG is in his space, but I've done embarrassingly well in the area under discussion. Sadly, I can't disagree with the assessment about studying to become a quant. Odds would be higher if you simply picked up the books and tried to trade yourself. Otherwise you'll likely be sucked up into a big firm and get lost in that mess. That said, I don't know what the relative odds are vs founding Google or Apple. It seems kind of like wondering which state's lotto to put your money in.

nearestneighbor 17y ago
What books do you recommend?
- ggruschow 17y ago
  Sorry, I meant in regards to trying to change the world or whatever. I can't recommend books for self-studying trading. It's a bad idea, and probably an ill-conceived one at that. If you must though: 1) Read an overview of how the products and exchanges work like Hull or Wilmott. 2) Read every single post on elitetrader and nuclearphynance, and note links that may be interesting. This'll be confusing, boring, and frustrating because you'll be digging through nearly 100% crap. That's the point: almost all trading concepts and ideas touted are crap. Reading through this stuff will give you a feel for that, maybe give you some ideas, and serve as a helpful guide for your further learning. 3) Go follow-up on the links that still seem interesting. 4) If you make it to this point.. screw it. Email me. If you're good at programming, system administration, or statistical analysis, I'll probably give you a job. Otherwise I'll help you take the next step or get your foot in the door somewhere else.

jayruy 17y ago

> Why not make money the way Larry & Sergey or Jobs & Woz did, by creating wealth? Why not make money the way David Shaw or Jim Simon or Paul Wilmott did, by adding liquidity to global markets that have modernized economies and provided stable living conditions for communities that came from nothing. Or you could make fun tech toys for the most privileged 1% of the world. Of course neither side is that simple, but please don't mistake PG's preaching for the truth.