What is a Quant? Rise of the Millionaire Nerds of Wall Street
ฝัง
- เผยแพร่เมื่อ 30 พ.ค. 2024
- What the heck is a quant? What's the difference between a quant trader and a quant researcher? How much do quants make at the entry level? Tune in as I answer these questions as someone working as a quant on Wall Street.
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Disclaimer: any content presented is NOT investment advice. Any opinions presented are my own and do not reflect or represent my employer.
It is SUPER helpful content! Thank you!
No problem! Thanks for engaging with us on Instagram!
Great depth indeed. But, the TH-cam side hustle helps too!
@@KoreanYuppie Great content, very useful even for a mature student like myself. What qualifications did you have when you applied for and landed your quant role?
@@KoreanYuppie yo bro plz solve some questions from jee advanced exam its a high school level exam. And tell me if that is sufficient cause the exam is freaking hard
Hi , do quants need to sign NDAs on every job they’re hired for ?
Met this guy IRL today --- really chill and down to earth! Should post more regularly if his schedule allows.
I can see this channel blowing up soon! Keep up the good work :) I would also love to see a video on you explaining the pathway for someone to become a quant. I think there’s a lot of people who would love to get into this field but just aren’t sure where to start due to the very secretive nature of the industry.
he gave up .
Thank you for this gem of an introductory video.
Thanks for the video, not everyone covers this kind of content, we need to learn more about quants, keep like this please!
This was ridiculously informative!
Really great video !! Thank you for sharing.
Thanks for sharing! Nice video edition
Great video! Part 2 next please.
Wow 👏 this is great info! Thank you! I am interested in both quant researcher and trader.
Great content dude, keep it up!
Very Insightful and you got a good sense of humor too bro 😂
Just found out your channel and your videos are extremely informative and well-explained. I wonder why you haven't upload anything in so many months. Hope you're okay, man!
Great presentation, I love it
This is basically a subtle flex that he probably made 500k as a starting salary out of college
You say it as if it’s a sin to do subtle flexes 🤣🤣🤣
Can't wait for the next video! :D
Great content!
i work for a nerd that earns 3k per day. So yeah this is real
I have zero knowledge of stocks, Wall Street, or finances. But for some reason, this is supremely interesting. It's like a vice-esque look into a unique, modern pocket of life that is not exactly mainstream.
Thanks Rickey! Appreciate your feedback and interest
Very informative content👌🏼
Super insightful! Definitely subscribing
Thanks so much!
Really great video! I love the calm style how you explain it and also really interesting insights! I'm currently learning statistics and also Java and Python. I was wondering, which language do you usually code in?
Thank you! I use a lot of Python personally. Great that you're learning it! It offers a lot of nice statistical tooling.
@@KoreanYuppie what about cpp
@@KoreanYuppie followed on ig 🤙🏽
I love your content!! Lots of people are interested in quantitative analysis but don’t know where to start, and you’re helping every one of us. Have you considered becoming a paid coach/tutor for people who want to get into the field? That’s something I’m looking for.
Cheers.
That would probably be the most over compensated tutor jejeje.
Could you make a vid about your own background and how you got the job? Also do you have any friends working in software for these quant firms that can also share how they broke into the industry?
Awesome videos man! You should get back into uploading!
Hi, thanks for the info, any thoughts or tips for career progression advice starting from undergrad? Best types of majors to obtain, how much education to receive, what sorts of internships to look out for while obtaining your degrees(in between undergrad to graduate degrees, during graduate school, during undergrad, etc.)? Also maybe some advice on the different conventional and unconventional routes to becoming a quant, as well as the difficulty of each route would be helpful. thanks
Informative video
Super useful!!!!! thanks a lot!
Please post a following up video to those additional topics and questions you mentioned at the end! Really really helpful. Would love to be a Quant one day
Great content.
Hey, thank you for the info! Great video :)
Do you mind giving me tips on how to pursue a quantitative role please?
Just found this video and this was super informative. I am currently an engineering major and I aspire to become a quant one day. Please make a video on what is the most popular and/or most useful career path to becoming a quant.
Super helpful ❤️
I've been trading stocks a while now before I started trading crypto coins. Even though bitcoin is volatile, its price movement is influenced by the same conditions as tradFi(Supply and Demand), With this you can time mrkt pivot signals with the right tools, "rinse and repeat". Recent capitulations are perfect for a rally. Considering all this, you need to have a go to strategy when trading, because when you buybitcoin, you're buying days you won't have to work. Prior to meeting Callum Lucas, I've suffered a series of trading losses. His AlgoSignal strategies have been extremely profitable for my crypto trading as I've watched my portfolio grow by six figures under his guidance.
Impatience has rekted many; at this time the markets are highly volatile and will inevitably rise and fall in value. Let's simply be patient and trade while we're at it., Lucas is someone who sets asset allocation that fits my tolerance and risk capacity.
There is this podcast I was listening to and it said something venturing within your tolerance and risk capacity, see you mention it again got to me. It's the best way to start till you're grounded to take thing on your own.
I'm new to crypto and I must say the entire correction and recent capitulations took me by surprise leading to a -75% loss of portfolio value. Was hoping I might get a breakeven earlier but took some losses more.
Will see how this works out... How do I get through to Lucas?
this is exactly what i was looking for thnks a lot sireee u are topG
Great content! Could you please make video(s) on how to become a quant with and without a technical degree?
Great Video
This is awesome content. I would love to hear you talk about the relation between market makers and quants. Ive been messing around with some algo backtesting as a hobby as well. Would also like to hear about algo performance on a short vs long term scale? One algo I made recently would of had a +81% return for the past month trading USDCAD on a back test but when I ran it for the year backtest, -65% return. Finally would like to hear about the machine learning aspect as well. Thanks for the content. Liked and subscribed on this video alone.
Dude this is exactly what I'm going through right now, please enlighten me if you have spare 5 mins🙏
@londonsFalling & @tom please let join a group chat and have a discussion on telegram or what
Can you please make a video on how to become a Quant, what should be the road map, resources to learn, and skills required
awesome channel! glad someone finally made a channel for quants in buyside. I'm an aspiring quant, getting my masters in computational finance, do you have any tips for recruiting & interviewing? Do you find job security and stress a major concern? Especially as you stay longer in the industry?
hey philip we can collaborate together if you want
Hey thanks for the info, please make more detailed videos about quants 🙏😁👋
You got it, thanks so much for watching!
Thank you for the video! Would you post a video about the path to Quant?
Working on it!
haha yeah i read about those tulips in Europe worth a f house :)) its crazy how value can be achieved
I really appreciate your channel. Would you be kind enough to make a video on the books that you recommend for us ?
Awesome channel! Do you have any sense on the "difficulty" of return generation based on scale of aum? I like to think it's many times easier to beat the market by 20+% when aum is nowhere near 8 figures.
Keep uploading your contents please 👍🙏
Why did you stop posting I loved this
Hi. I have heard about quant analyst and wonder if this was somehow related to the 4 major quant roles mentioned in the video?
Hey! Awesome video!! Keep making them, please. I am finishing my undergrad in Physics (with some study in Econophysics) and would like to know if you have any advice of what should I do to become a quant researcher. Like what should I study to be able to do this job. And again, thanks, bro, awesome content.
If you can, a masters degree in mathematical finance or financial engineering.
Good video. Could you introduce more about your work? for example, quant developer writes those codes, and "pass" it to traders to execute? any suggestions about preparing for such jobs?
Can you share your journey to become a quant that would be a great video?
Investing is the highest paying job. Quant is the execution developing arm, so not surprised at all.
Please make videos about everything you can😂 I want to become a quant as soon as I graduate and the videos help so much
@DIAMOND_HANDS what the hell are you saying to become a quant you dont need to know how to make money in the markets , it does help, but comparing becoming a quant to getting in the nba is such a dumb analogy. quants recruits want competent graduates highly dedicated in the field of mathematics and yes knowing to code does help. Its a career path like another other and geeting a job will be as tough as getting a job in other fields.
keep diamond handing ur doge, dont bring ur uneducated perspective of the finance industry in here where people really want to get a REAL education and make a career from it,
what side projects can an aspiring quant work on to show their willingness to learn and their skills in CS and quant finance
Do you mind recommending any books and topics to check out?
Thank you for the awesome content!!!
I'm an eecs major having only done software engineering internships so far, but I became interested in quant (developer) & this is really helpful :)
I was wondering which courses you'd recommend I take as an undergrad to become a quant. Also, are there any projects that quants like to see on our resumes-or what else do you recommend I try to prepare for quant interviews etc.?
bro it's just math lol, become a math genius or sum
Thank you for the video! Do you know of any companies that would be ok to hire a remote quantitative researcher? Most the company I know still require that the quants are on-site.
Please Make more videos like this....
Hi! Thanks so much for uploading the great content that you do! I find it very helpful!
I’m currently an undergrad studying at the University of Texas at Austin majoring in Economics. I am considering either double majoring in Finance and Econ, or just majoring in Econ and either minoring in Risk Management, Finance, or getting a certificate in Applied Statistical Modeling. I am not particularly interested in studying CS, but I am interested in pursuing quant roles in finance. Do you think that my current plans would be good enough for me to try and pursue quant roles after undergrad (and if so, which minor do you think is the best, or should I double major with Finance), or is there something else I should do instead in your opinion?
Also, do you think that UT Austin is a good school for someone who wants to be a quant, or should I look to transfer to a “better” school? (I saw your previous comments mention that MIT and UChicago are good schools for quants.)
Thanks, and have a great day!
In general, if you can land a quant internship, your school doesn't really matter too much. You just need it to open doors to interviews.
Honestly, finance and econ programs can be a hit or miss because some tend to be quantitative than others. I don't think the double major would help you in this case for quant roles specifically (maybe it would for fundamental roles, that's outside of my domain). Quant firms see to like candidates who pursue very technical, math-heavy majors like math, stats or operations research. These majors tend to be more difficult so many recruiters appreciate that as well -- just checkout any job listings you're interested in to see what types of majors they prefer.
I see. Thank you so much for the response! From what I have been looking at, it seems like math, CS, and physics are the most popular majors among quant positions. I don’t think I’ll be very prepared for quant roles with my Econ background haha, but I still enjoy watching your videos nonetheless.
@@KoreanYuppiedoes machine learning phds useful for such roles
Why did this guy stop making videos? All the content was great.
Wow I am so lucky to have found your channel. I am a sophomore at Florida State University Majoring in Finance but I want to be able to also have doors open in the computer science and quant firms as they interest me more. What majors would best prepare me for quant? I am thinking right now of including an applied mathematics major so it would be a dual major in applied math and finance. What are your thoughts?
I am more interest in the quant trader/research not really quant developer
I’d recommend going for an applied math or stats major plus a CS minor. You can also minor in finance or econ but the CS minor would help more in my personal opinion.
Quant rule#1 , nobody respects soft econ/finance majors when you get your hands dirty with code.
@@AMANDAN882 huh?
Thank you for the content! Just a question: what are good degrees to get into this field (also bachelors or masters?)
Math, CS, physics , reading books on finance see coding Jesus
Econ would also do.
Two questions brother,
1. What major and minor should I be taking in college to get into the field as a developer?
2. How hard is it to launch your own quant firm?
I'm about to turn 17. I have 0 coding experience but I'd like to think I work harder than the average person soooo. What advice could you give on becoming a quant. (schools, internships, books, ?)
The Quant industry is over-saturated, Am I wrong? Profit from trading can only have so many winners and losers each year. Also physicians in the US have a bit more stable income. Nowadays, 300-600k a year.
why did you stop posting videos??!....I love your content!
u should post a video gon throu online courses(MOOCs) that would help us learn the basics of quant trading maybe some programing courses and what ever its necesary
Wall Street Atlas is a place to learn more.
Hey! I'm a korean student in a large but somewhat mediocre canadian university studying econ and applied math. Do you think I could make it to quant research intern just with a high GPA and networking hard?
Love the video! Please share what we should learn, I am currently a Math Major and have a year left. WHAT SHOULD I LEARN????!?!?!?!?!??!?!?!
Pls make a video on what skills are needed to become a quant
Would you mind sharing some of the tech stacks (programming languages/ frameworks) that is typically required by the different kinds "quant" that you have mentioned in the video. :)
Python is extremely popular across firms due to its strong numpy-centric data libraries. C++ is common in job interviews and listings. Jane Street is famous for its prioritization of OCaml.
I would like to know what kind of mathematics you use on regular bases
I have a great mathematics ans statistic background, im graduating physics this yaer, but i'm not good at programming. I relly like what you said about the work a quant does. How hard is the coding part of your job? Again, i wont have troubles with the math. And what are some advices you could give for some one who doesnt code that well?
Practice
What you think about tape reading and technical analysis?
For someone who is not from a well-known college, how does one break into this world of quant-trading as a fresher? What kind of accomplishments and projects do the deal? Assume a Computer Science background while answering these questions.
Thank you for this video, but you didn't mention the downside of this trading strategy, or did I miss it?
I want to apply for a master degree on computational finance or FE . Can you please advice me on how to choose the right one to become quant trader? And also it would be great if you talk on the specific topics in statistic ,probability and math that as a quant trader need to work
Greetings, I need some help regarding my quant career.
I'm Mihir. I have completed my schooling from a local school in my home town itself and currently pursuing Bach-Commerce course from an open university.
As I'm from a backward community and from a small town I got to know about Quant and Hedge funds etc.. after passing my 1 year of Bach-Commerce course.
I looking to get into this Quant World as a researcher or developer.
What should I do now in order to get a job similar like you as HFT trader or a Quant researcher or Analyst please let me know.
i´m wating the next video
How did you get into quant... can u elaborate from Computer background.... coz
it needs advance mathematics
Quick question -- are the salaries you listed for quant traders or quant researchers? Generally what is the difference in pay between quant traders and quant researchers (and developers)?
Thanks :) Loved the video
Hey man cheers for this, I'm majoring in big data, what general electives should I take, economics, or finance?
All of the above!
What’s the most important math and computing skills for being a quant? Can you break it down into what’s needed for getting in and what’s needed for day to day work?
Varies firm to firm, planning on a more in depth video in the future. For more generalist or entry-level roles, the fundamentals of statistics and probability are most of what you need. More senior or specialized positions often require more.
What happened to this guy? Wonder why he stopped making videos
I'm about to do a masters in data science and artificial intelligence. Do you think this would be a good degree to break into the industry?
안녕하세요? 저도 Quant trader가 되고싶은 한 대학원생입니다. 대학교때 전공을 Actuarial Science, 부전공을 Business로 졸업하고 Probabilty 와 Financial Math시험을 통과 했어요.
인턴은 Data Analyst로 했었고 한국에서 전략팀에서 일했었어요. 지금은 대학원에서 Data Science로 석사과정을 하고 있어요.
Quant를 하기위해선 금융지식과 코딩이 많이 필요하다고해서 CFA조 준비하고 있고 코딩공부도 따로 하고 있습니다.
Quant가 되기 위해서 무엇을 더 집중적으로 공부를해야하나요? 감사합니다.! 영어로 답하셔도 되요!
아 추가적인 질문인데요! 제가 빨리 돈을 벌어야해서 대학원을 파트타임으로 다니고 일을 할껀데 Quant 취직에 안될시에 어떤직업을 하는게 좋을까요?
I am currently getting my degree in data science can I still transition to quant trading?
I'm currently majoring in computer science, would you recommend a minor in statistics or economics?
If you're going in the quant direction then easily statistics/mathematics. The necessary economics can be self taught, the stats not so much.
Hei, thanks for the amazing content! I got a question. I've actually graduated from Statistics and i'm now going to attend a MSc in Quantitative Finance. I'd like to ask you: even if i'm not a star at programming but i'm actually good in math and statistics, is it still possible to achieve this position or is compulsory to be skilled at programming? Thank you!
Quants positions are *extremely* difficult to obtain. They are probably more selective than FAANG and Big 4. The interviews are far more complex in terms of testing your knowledge of data structures and algorithms for example. So yes, very strong programming skills in addition to strong math/data and ML background are a given. In fact, most quant position require 0 financial knowledge.
To paint you a picture, I personally know two quants. One graduated from MIT with a BS in EECS, another BS in math, and MS in EECS. Second guy got a BS in chemistry from MIT, and an MD and PhD from Harvard Medical. I hope you get a realistic gauge of your chances.
@@user-pd9ju5dk5s I really appreciate your opinion and yes, It Is helpful! Thank you!
If you don't Mind i've another question, maybe you have the answer. In the financial risk management world, are programming skills as much important as if you'd like ti become a quant?
@@gabrielepillitteri Programming is not as important as it is for quant work. Still, it'd be advantageous to understand some kind of programming language for data-processing (generally R/Python, but also Julia/Scala/Matlab/Mathematica depending on case). You might even be able to get by with a solid understanding of Excel depending on the nature of risk management. Regression analysis is one particular skill that would be useful.
Really Amazing content! I'm majoring in computer science and thinking of double majoring in computational math. Do you think it'd help me in landing a job as a quant? Also if you could suggest some topics/books that will help me understand quant, that'd be great.
Yep double CS/math would be a nice bonus. Not many good books, it’s a pretty closed industry. Also lots of variance firm to firm
@@KoreanYuppie so we can't self study to become a quant?
Hey can you tell how can we prepare for such a job profile. I am a sophomore and I want to start preparing!
I was wondering what type of study do you need to do to become a quant
What career path that can lead to quant? Can data scientist or machine learning engineer become quant?
hey, just found you, love the content. just curious to know, what degrees do you hold and what’s the common career path to becoming a quant trader? thanks heaps, keep up the good work
I have CS bachelors degree. Traditionally it’s been undergrad -> quantitative PhD -> quant roles. Lately, lots of people get hired out of masters or undergrad. There’s also some inflow from folks already working in the data science space.
@@KoreanYuppie thanks for the quick reply, that’s good to know. are they many opportunities to exit into data science out of quant finance?
@@benjaminbialy6284 I've seen it happen anecdotally, not sure about more generally.
Very helpful.
As an average mathematician (didn't) achieve the best grade on my maths degree but really enjoyed the modelling side. How do I translate this into a quant trading strategy.
Could you pleez make a video telling about investment banking vs quant researcher job, salary, promotions, etc
Do I need a PhD, or is a Masters enough? I’m currently in my final year of my BSc doing Stats and Finance. Next year I’m doing a masters in Data Science, so I want to know if I actually need a PhD on top of that. Coding wise, I’m mostly proficient in R but I’m looking to pick up python soon.
Second this, Do I need to have any relevant internship experience to be a quant? Does prestige of the school you go to matters for the masters degree university I apply for?
Most quant researchers have a PhD
@@curiousintrovert1016 yes prestige matters, yes internships matter because why would they hire you, with no internships when there are hundreds of others with the same or better grads from better schools with internships.
masters in sufficient. although phds are preferred especially for research
hey please make video on roadmap to become quant dev
Hey I’m duel majoring in finance and mathematics(w/honors), along with a minor in economics. But my programming skills are lacking, how could I improve this skill set to transfer into the job market. And, what programming languages do you recommend I focus on?
python and c++
How long does it take to prepare for quant interview?
What was your education like? Degree?
If some person want to buy the software for quant trading how Much its cost?