Re:Understanding Jane Street
by chucksmash on Tuesday August 02, 2022 @03:30AM
(#32316034)
Had "The Man Who Solved The Market: How Jim Simons Launched The Quant Revolution" on my shelf for several years as an out-of-the-blue birthday present but I finally got around to reading it earlier this year and I'd absolutely recommend it.
The emphasis on published work rang a bell, but thumbing through the book I can't find it off hand.
Re:Understanding Jane Street
by benreesman on Tuesday August 02, 2022 @04:41AM
(#32316412)
I enthusiastically second "The Man Who Solved The Market".
I also enjoyed the book and tried to find out more which I wrote about here (in my non-monetized blog):
https://sileret.com/blog/renaissance_technologies/
In addition to RenTech, TGS is another intriguing place that mostly flies under the radar and from all rumors seems to have been fantastically successful over 3 decades. It’d be very interesting to hear about other less known firms with stellar, albeit likely smaller in absolute terms, levels of success.
Re:Understanding Jane Street
by VirusNewbie on Tuesday August 02, 2022 @12:19PM
(#32320673)
TGS is just weird. Friend of mine making very good money at staff level had them reach out to get him to come interview, saying they would at least double his comp.
Another friend at G said the “smartest person in the office was poached by this company TGS, have you heard of them?”
Of course, the 30%+ annual returns almost every year for 30 years doesn't hurt the mystique either ;)
It's interesting that their other funds are far more mundane in terms of performance and last I heard Medallion can't hold much capital (~10B or so I've heard in whispers), but there is definitely something interesting as hell going on there.
Near as I can tell it's the hardest job to get on Earth. Rumor mill is that they pre-screen candidate based on their citation record in the literature, though that's obviously hearsay and I don't know if it's true.