The murmur of the snarkmatrix…

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Inside the Black Box

The best thing about it only being January 10 is that I can say, without reservation, that this is the best thing I’ve read all year: n+1’s interview with a hedge fund manager. It includes a useful window into a little-known, but super-interesting, component of modern markets: quantitative trading driven by computer programs!

n+1: And so the computers themselves are making these trades?

HFM: You build the models and the computer does the trading. You actually do all the analysis. But it


dan says…

Black box trading automation is a major business, and successful companies are making lots of cash doing it. I declined an engineering job at a start-up automated private trading company in LA because I wanted to move up to SF. I had some friends who did work there and their bonuses were over $100k the first year. Not only is that a note for the Right Way to treat an engineering team that is building your money-making algorithms by working 16-20 hour days, it’s also a pretty sure sign the company is pulling in mega-profit.

(Side note: living in SF totally worth bailing on a 6 figure bonus.)

checkout wealthlab ( now owned by fidelity. it does some “blackbox” trading for me.

Ah! I was just thinking that there’s got to be some sort of collaborative ‘Web 2.0’ product in all this! Although that app looks (sort of awesomely) old-school and not 2.0 at all.

WealthScript! I love it.

So how does it perform? This site seems like a recipe for the kind of ecological homogeneity that the hedge fund manager talks about re: the big black boxes — if only b/c people are using the same tools, techniques, etc. But maybe not?

robert evans says…

one of the best is

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