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Do you have any information of anyone algorithmically outperforming the market enough to make them personally billionaires?

by brent 19y ago

ivankirigin 19y ago
I'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 ago
Algorithmic 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 ago
  I 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 ago
    You'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 ago
    How about D. E. Shaw? I'm not sure how much he's made, but it's surely quite a lot.

Do you have any information of anyone algorithmically outperforming the market enough to make them personally billionaires?

by brent 19y ago

Do you have any information of anyone algorithmically outperforming the market enough to make them personally billionaires?

ivankirigin 19y ago

I'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 ago

Algorithmic 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 ago
I 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 ago
  You'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 ago
  How about D. E. Shaw? I'm not sure how much he's made, but it's surely quite a lot.