How to admit you're in finance without admitting you're in finance?
There are very-very few cases where you need truly advanced math in finance. The problems that need solving are generally vastly more pedestrian.
You need to deal with terrible data quality, terrible formats, noise in every aspect of your work, disruptions, lack of standards, inability to generate new data (and repeat experiments), conflicting and often opaque incentives, technical problems ranging from shitty APIs to having to squeeze nanoseconds out of your network stack, etc.
These are all difficult problems, but they are crucially not frontier math problems (by and large).
" The National Security Agency is the largest employer of mathematicians in the U.S. "
https://www.scientificamerican.com/article/mathematicians-an...
Tell me you have no clue about quant finance without telling me you have no clue about quant finance.
You probably think it’s abstract topology and Ito calculus, when in reality it’s linear regression and PCA. If you’re lucky, maybe you’ll see a sigmoid function.
If someone in finance is using LLMs, it’s for marketing purposes (recruiting new grads or impressing investors). Jane Street and DE Shaw are notorious for this.
Nope.
Let me guess: you listened to The Man Who Solved the Market and think RenTech uses/used unpublished frontier mathematics to predict the market.
There are plenty of firms with both higher annual % returns (consistently over 15-20 years) and higher absolute $ returns than RenTech/Medallion fund, especially post-2010. And they’re not using “frontier mathematics”.
A lot of alpha comes from how well you know the VP at the exchange. Not math. Not tech. But good ol’ politics.
Don’t like a market participant? Tell the exchange to issue violations to that participant. Get them banned for a few months.
Fat fingered a trade with wrong price or quantity? The exchange can and does undo a trade after the fact. All in the name of “orderly markets”. Similar to when governments use “national security” as an excuse.
No, more like, some differential geometry and gauge theory. The topics that Jim Simons worked on.