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Re:Ask HN: How to Get into Quantitative Trading? by panarky on Friday January 26, 2024 @04:47PM (#39148981)
Nobody's saying that alpha doesn't exist.

But before you unleash your automated proprietary model, you should be able to explain why you think you have any edge whatsoever over your far better funded, far more experienced counterparties.

And, no, getting great results from backtesting your model is not evidence of edge in the future against adversaries with access to better data than you have.

Re:Ask HN: How to Get into Quantitative Trading? by eps on Friday January 26, 2024 @05:45PM (#39149838)
> you should be able to explain

RenTech famously tried to understand exact mechanics of their successful models after they (models) proved to be successful. Sometimes they succeeded.