By the top math and physics PhDs in the world?

Funny thing is, if you look across a trading floor nowadays, there are almost no lax bros.

There are almost no people.

The traders are gradually being replaced by quantitative analysts.

Most cash equity desks at the big banks are staffed by almost no one, except for a central order book—a matching engine that pairs off firm and customer order flow. A robot, built by very smart people.

Not long ago, Bloomberg posted an article about Renaissance Technologies, the most successful hedge fund in history. I referenced it here. All quants.

Any coincidence that the top hedge fund in the world is run by the smartest people, the top math and physics PhDs in the world?

In case you had any doubt about the correlation between intelligence and investment success.

There are two structural trends present in today’s markets:

1. The move from active to passive

1. The move from discretionary to quant

所有跟帖： 

• 这不正好吗？小中数学好的顶上啊 -Lionkingmom- ♀ (0 bytes) () 06/29/2017 postreply 19:47:18

• 数学好的 are foreigners. -career- ♂ (238 bytes) () 06/29/2017 postreply 21:34:21

• 我师兄弟很多都是矿工. 矿工要PhD. 没有小中PhD，PhD 都是老中。 -houmom- ♀ (0 bytes) () 06/30/2017 postreply 06:58:36

• 小中有些急功近利。 -BeLe- ♀ (0 bytes) () 06/30/2017 postreply 09:59:23