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>...people are making way too much money to talk about it openly. Or maybe people are _wasting_ way too much money to talk about it openly.
by pixcavator 19y ago
>...people are making way too much money to talk about it openly.
Or maybe people are _wasting_ way too much money to talk about it openly.
- ivankirigin 19y agoDo you have any information at all to base your comment on?
- brent 19y agoDo you have any information of anyone algorithmically outperforming the market enough to make them personally billionaires?
- ivankirigin 19y agoI've heard anecdotes from multiple sources that there are groups of software engineers and algorithm designers buried deep inside all the major firms that are doing just this. I know those firms manage and create hundreds of billions of dollars and I've been told that the stiffest competition is in these tiny software components of the business. But I don't mean to sound too snarky. Sorry about that. So go ahead and try to get a job at Machine Insight or another such firm to find out what they're all about. http://www.machineinsight.com/ http://www.machineinsight.com/
- neilc 19y agoAlgorithmic trading is actually commonplace: http://en.wikipedia.org/wiki/Quantitative_analyst http://en.wikipedia.org/wiki/Quantitative_analyst http://en.wikipedia.org/wiki/Algorithmic_Trading_Platforms http://en.wikipedia.org/wiki/Algorithmic_Trading_Platforms http://www.iht.com/articles/2006/11/23/business/trading.php?page=1 http://www.iht.com/articles/2006/11/23/business/trading.php?... Typically this is not a question of "find the secret strategy and make billions!", but rather finding a good execution algorithm to break an order of $billions down into a series of smaller orders for a good average price, or finding and exploiting minute arbitrage opportunities, etc. Algorithmic trading is responsible for many billions of dollars of trades daily; I don't know offhand of particular people who have become billionaires off it, but there are definitely lots of folks who have made a lot of money.
- brent 19y agoI know there are people who trade algorithmically (I'm one of them). I just wanted evidence of one person who had made billions from it.
- ivankirigin 19y agoYou've taken my comment on a personal level in that you think I'm talking about an individual. I would form a company around the idea and target investing.
- neilc 19y agoHow about D. E. Shaw? I'm not sure how much he's made, but it's surely quite a lot.
- pixcavator 19y agoFine, let me rephrase. Or maybe people are _wasting_ way too much money to talk about it openly?