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I'd like some perspective on this. Are "data nerds" (i.e. scientists) marginalized in finance because of cultural differences with the incumbent traders, becaus
by castle-bravo 10y ago
I'd like some perspective on this. Are "data nerds" (i.e. scientists) marginalized in finance because of cultural differences with the incumbent traders, because expectations are unreasonably high, or because most quants' models aren't significantly better than the trained intuition of their bosses? Why is it so hard to get trading firms to put engineering high on their list of priorities?
- paulddraper 10y agoMy guess is the last reason. It's the same reason stastical models aren't used heavily in sports recruiting/trading.
- kevinwang 10y agoaren't they used heavily in sports, though? That was my impression of the NBA/MLB, at least.
- paulddraper 10y agoYes, sort of. They are used like they are in finance. They can make lots of cheap, low precision decisions, but at the end of the day, humans make important decisions about other humans.