What is a quant? (explained by a quant developer)
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- Опубліковано 8 січ 2021
- In this video I go over what a quant is, how much they make, and what it takes to become one. I work with quants every week, and I've had requests to explain what they do.
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Email: thecodingjesus@codingjesus.com - Наука та технологія
Your words are very smooth. Understood easily. You are way much underrated. Long path to go. Kudos!
Thanks!
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@Camden Fisher Flixportal :)
@Kyle Jayden thank you, I went there and it seems like they got a lot of movies there :) I really appreciate it !!
@Camden Fisher happy to help xD
Love your videos, packed with information, no bullshit, and sneaky funny. Prob my favorite UA-cam account at the moment.
You are doing good my child. Keep it comin.
Hidden gem! What resources do you recommend to practice / improve soft skills?
Great video! Is there a version of this video for the quantitative developer? You alluded to making one. I am very curious on the skills and learning path, interviews and the pay structure (particularly bonuses). Because if you are tired to the models the quant analysts/researchers make, does that mean your bonuses are dependent on them as well? Since you're not creating any models yourself
Just found your channel absolutely brilliant and thanks for sharing your knowledge! Quick question, could you please explain how cross sectional stat Arb works? I heard Manoj Narang talk about how all HFT/quant trading is basically just providing liquidity to investors, market makers are the first to provide it, then stat Arb when the dislocations become bigger, I understand the market makers make the bid ask spread, but is the cross sectional stat Arb achieving this but in a more robust way or is it pure mean reversion? Thanks!!
Love the info, subbed bro
this is very informative. great vid.
So, what do they need exactly?
From the video, I get an idea that they should be good with
- Python
- Data Analytics
- Machine Learning
- Git and Version Control
- Mathematics
Am I missing something? Is the list superfluous? Tell me!
Thanks for shedding some light upon this. I was wondering about the use of Scala and Akka within the Finance world. Have you come across any application/code basis written in Scala? Or does C++ suffice for most of the things you guys do?
Never seen Scala anywhere in this field. Python, C#, C++, Java, and maybe some other languages for front-end display.
Yes scala is also used but in developing HFT platform. Where these algorithms can get deployed.
Scala is generally used for management of data flow(every second HFT platforms see tons of data flowing between different component)
@@karaniitgn0908 do you any make any advancement in quant filed ??
@@songoftheheart2374 As of now I am working on developing the HFT infrastructure(Algo creation, pause the order, resume the order, modify the order etc etc)
That’s a great explanation.
Thank you for explaining this man, we appreciate it
Great video. Surprised you don’t have over 100,000 subscribers
Very helpful. Thank you.
@@condingjesus1 gay
AWESOME VIDEO YOUR AWESOMENESS if only genius could be taught
Did you come from a target school? I heard it's nearly impossible to get any position in quatn finance if you don't come from Ivy or flagship state schools.
As a quant you’re backtesting strategies that are mostly based on finding anomalies which most likely comes from technical analysis. However you’ve created a video disagreeing with TA and how it doesn’t work. So why would your firm backtest these strategies that require some degree of TA.
Lmao, good comment
Brilliant comment. Would love to hear how CJ would respond to this!
@@Cheeze_isLIFE Maths analysis = > TA which is 65% bogus.
Great one! Do throw some light on steps to become a quant and the resources in the upcoming videos.
Can u give a basic idea of what strategies does quant traders use if not technical analysis.
@Coding Jesus What is the difference between a quant trader and a quant analyst?
I love how you are explaining this !
how much does a quantitative developer make generally? What about developers at the top of their field? 10 years down the line? What's the compensation difference between analysts, traders, and developers? What's a ballpark number of your own salary(if you're comfortable with that)?
a lot, much much more than what FAANG can offer. Also, why not do a search yourself? you can easily understand how much they earn by searching for the salary of top quants like Jump Trading, HRT, or Janes Street. What a lazy boi! I think it's better to stop daydreaming about the thing you can not, especially when you're a lazy man 😒😒😒
Hey, @codingjesus, can you make a video on how to land internships in top firms from a comp.sci. major
great - very clear
Does Graduation in commerce field And FRM graduate make sense to opt for Quant finance..!!
Hey CJ, can you please make a video explaining what the 'strat' role is in IB, and how it differs from a quant/ or a developer? From the high level, it seems like a mix of both.
Strat Role?
@@CodingJesus strategist
Great.....Sounds Interesting to me as a Quant aspirant
Been 2 yrs tho, how's things going?
You really are coding jesus for real 😆 -- nice video
incredible content bruh!
Hello, I am starting my research into applying for a Quant Analyst job in USA. I am completing my MSc in FInancial Engineering from WorldQuant University. Do you think online masters has any chance of landing a job?
The content is incredible! Can you please let us know which python libraries are relevant in quantitative engineering/ HFT?
Probably graphing shit
Hey should I get quant or stick with xrp
Hey, @codingjesus, what is the average starting salary of a quantitative developer in 2023
Hey, I wanted to get into quant trading and would love your advice on how I should proceed. I am currently working for the ML model implementation team at JP Morgan and Chase. (23 years old, Graduated from IIT Roorkee in 2021 July)
any update?
What do you think about the CQF ?
Hei! Coding Jesus!! Can you make a video on Intellectual Property protection such as protecting the code, the quant strategies, from going outside the firm or traders misusing and trading on their own. Also on compensation types, % profits, base pay etc???
thanks brother
Many quants with a physics background at my place
Many Devs with that background too. Good point.
@@CodingJesus any engineers?
Whooo! In before famous.
This was very good! Only feedback is perhaps you could refrain from saying “he/him” as it’s assumptive. As an industry, we need to be trying to have a diverse work force in all manners. But yeah, absolutely loved your video. Rhanks.
can one quant without programming?
Hi dude, can you start and share a course related quant developer?
Thanks so much.
What are the most common fields of study that quants come from nowadays? (E.g. Math, engineering)
Please post more
Can we get a vid on how to get such outstanding brows
Hey JC, I am a Math/Stat + CS ugrad. I was wondering if a MS in CS is seen in the same light as a MFE & MS in MathFin
Nobody with a brain cares about accredations and degrees. If you can solve problems, you're good enough.
@@CodingJesus but don't we need a fundamental credentials to prove to our employers that we are prepared and knowledge for the job?
@@Han-rg4zt write a sample trading algorithm which will make you money. Put it on low latency system and you’ll get a job
@@ee214verilogtutorial2 Hasn't worked yet for me lol.
@@rupertsmixtapes812 do you have such algorithm? Could I see it pls? I’m interested
How much money do you make?
salary:125-500 k usd a year
I wanna start being a quantitative analyst and I have solid background in math thank God
I'm currently working on my coding/programming knowledge like I learnt algorithm and c++
Should i study financial math or like quantitative finance ?
Someone help me I would be very grateful 🙏
I have a Masters in Financial Maths from one of the top 10 universities in the world. I graduated in 2019 and I've been applying for Quant positions for 3 years. In the past 3 years, I've attended 30 if not 40 final stage interviews but nothing came to fruition. I feel like I'm the only exception in my Masters class. Do you think the interviewers have biased opinions toward those great but not genius graduates? If not why do I continue to fail? How many more years do I have to endure to get that entry level job? I feel like I have a little bit Aspergers, with a tested IQ of 132. Can I still have a shot?
Book a consultation session with me. Add my on Discord first.
Read What Color is Your Parachute book and follow the steps. Aspergers isn’t so much a problem in the tech field, but it may be a lack of soft skills that the employers are seeing in you.
May I join your discord as well.
My experience is similar except I do have some part time work and successful trading record.
@buxey Thanks. I have been accepted by a company seven months ago. I agree with you there's a deeper issue because I now wonder if this job is really for me. Sometimes when the job isn't match the personality its not necessarily happy
@@yuanfeng7266why do you wonder if you enjoy the job? What was different before you got it
can you explain to us the GME squeeze pls... new subscriber here
As always great video! Are you related to Russell Brand?😀
Hehe I'm not
what credentials can a quant work towards? Are there any further education opportunities that you can pursue while working as a quant? Like a Society of Quantitative Analysts?
Wait quants are trading by their AI or algorithmic system, mostly as HFT. Why do quants need to be required a trading pressure handling mental skills as a trader ? That’s something quants/system trader never needs.
New subscriber . Do you think the CFA is imperative for a quant?
No
Guys please help me. Should i choose math degree, or finance math degree(bachelors) if i want to be a quant?
I would assume math would be more beneficial
How do firms prevent developers from stealing their strategy? Amazing video btw!
Non-competes of some sort maybe
As JK said, non competes cover this. If a quant steals code then they get fired
Non-competes but also an individual quant rarely gets to see the entire code base. I think this is mainly to prevent IP theft. They can see all of the code related to their area of work and that’s it. They can’t see how devs feed their quant models, or how trade execution uses FPGAs, etc.
Ultimately, they’d only be able to steal their one area, and they’d have to find another firm that already has all of the same pieces around it. That rarely happens because tech stacks are very different within these firms. They definitely can’t just execute their stolen code at home because that one puzzle piece is useless without the rest of the tech stack around it.
New follower here :)
So we have three broad Quant types:
Quant analyst: Mostly develops models and evaluates them, does some trading.
Quant trader: Mostly does trading based on those models, does some modelling himself.
Quant developer: Implements the models as high quality software.
Not sure where I would fit best... Doing a PhD focussed on machine learning with a strong coding component, mostly Python, some C++. From this perspective Quant analyst would be best. But I would love to do more in C++ and get better with it. Is C++ actually useful for a Quant analyst? Prototyping some ML models is much easier with Python after all... And if I tried to enter Quant dev roles, how useful would my maths/ML knowledge actually be? Would I try out my own ideas as well, or would I simply need to translate the Quants' models into high quality code?
Keep up the great work, very useful channel to get informed about this field.
No need for c++ really, with tools like Numpy where it converts Python to C at runtime provides roughly the same performance with far fewer lines of code and no memory issues. C++ still has a place in programming just not really quant imo.
Hello Coding Jesus, I watched this video and it inspired me to develop my own trading robots that I sell for extortionate currency ... I have 10yrs programming experience and 3yrs trading experience and I trade my own and others strategies in this manner. I do the back-testing of strategies before they are made operational - I'm doing it all - Apart from lucky what would you call me?
wat
Well explained 👍👍👍
Thank you 🙂
Have you got any forums for beginners to ask the trading coding questions?
Yooooo! not coding Jesus😂.. he looks middle eastern too. it’s so accurate. 👍
I am Middle Eastern... LOL
I am a self quant and what you've said match all in my discoveries. I have a very good model. Can you help me with an investor? I can show you my model...
Which websites do you write on?
Wish I seen this in middle school
I thought this was about quant network 😅
The man, the myth, the legend.
My dear coding lord, thanks for this video 🙏🙏
My pleasure
Yeah yeah
Nuff fancy talk
How much returns are your generating?
That is the bottomline here right?
How much capital do I need to start HFT firm?
HFT isn’t as much about capital to trade with as it is funds to finance the infrastructure: www.linkedin.com/pulse/how-much-money-would-cost-setup-high-frequency-trading-ariel-silahian?trk=read_related_article-card_title
It simple terms, a trader who utilizes quantitative strategies might be a modestly competent programmer but not nearly on the level of a software engineer. This means that the trader is more like the architect who drafts the design and then utilizes the services of a builder to actually make the structure and also the builder can help determine if any part of the design requires modification or worse would be incompatible. The trader comes up with the idea and validates it’s potential, and the developer actually builds the structure needed to deploy the strategy.
Some millions, at least to buy the gear needed and the co-location on the exchange. Plus the capital to trade.
whats the prestige like ? traders then quants then devs then analysts ?
XDDDDDDDD
🎯 Key Takeaways for quick navigation:
00:00 🤖 A quant, short for quantitative analyst, works with numbers to develop and backtest strategies to make money for a firm.
01:11 📈 A quantitative developer collaborates with quants to implement their models and algorithms.
02:22 🧮 Technical skills for a quant include mathematical proficiency, education in math or finance, understanding trading concepts like option theory, programming (often Python), and computer usage, including Excel and Bloomberg terminals.
05:36 💼 Quants not only create models but also actively trade based on those models, managing portfolios of instruments.
06:04 🧠 Soft skills for quants include a trader's mentality, risk-taking ability, an innovative mindset, and comfort with failure.
09:25 💰 Quantitative analysts can earn between $125,000 and $500,000 per year, with bonuses based on their model's contributions to the firm's bottom line.
Made with HARPA AI
Whats your mbti? My guess is entp
INTJ
Current physics and cs undergraduate. I don’t go to a top or prestigious school at all. I aim to pursue aerospace engineering MS and computational physics MS at a top tech institution, in my current position i have a good chance. With this what should I do and what can i do to improve myself as a quant developer candidate
What happened to Ockham's Razor? Quant: Technical Analysis is stupid. LoL
My model predicts that he will say "All right guys". Correlation 1.0
True, but when and for how long will he say "all right guys"
I would like to imagine myself being some crazy guy working in closed doors, testing number-crunching strategies in order to make big $$$ for a firm.
do you got degree?
coool
What is quant said UA-camer and made money on UA-cam
XDDDDD
Statistics background
As an old school guy who invests for my retirement in The Vanguard Balanced Index Fund, I have comment, except I like the fact that you are really what Jesus would historically look like and not the blonde haired blue eyed version I was force fed in Catholic school. lol
You have no idea what you’re saying about day trading. You’re a software guy not a quant. Jim Simmons doesn’t hold any of his positions for more that two days. I say trade with a working strategy which has been making consistent returns
He works closely with traders and quants at a prop firm so he definitely knows more than you bro.
Hey man, love the content!!
Do you run your own capital with some of your Algos?
Also, do create commissioned Algorithms for private parties?
Thanks so much, Algo Jesus 😂!
I didn't understand anything
Im confused. Are you talking about quant as in the crypto coin? lool
the use case is going through the roof Africa Europe South America are using this coin in real time it has only just started retail are just becoming aware of qnt it is definitely not a shitcoin it's basically like buying Ethereum at 100usd in terms of gains if you plan on holding qnt for 2 years you are looking at a 5k qnt by early 2025 yes might go down a little to 70usd but no lower qnt is on a mega sale you are looking for tokens that will last which is hard to do qnt is it!!alot of others wont qnt is being used and implemented and partnered with new massive companies each day it is a token that corporate investors are and will invest in most important it is here to stay great buying opportunity right now 2025 your looking at a 5k qnt 12 million tokens that's it and it's being used and burned massive all over the world you have to find tokens that will survive qnt will
This is my quant, do you notice anything different, look at his face, his name is Yung and he doesn’t even speak any english, yeah i am sure of my math.
Yang*
Sign me up damned
Quant = fintech data analyst
... I presume.
So if this dude has the holy grail of trading, why does he need to make videos and monetize them to make that 500 bucks extra per month? With the holy grail he should do 500 per hour.
I just want to be rich.
I met plenty of rich people that didn’t have any money.
@@CodingJesus The word of Jesus.
_yea im done w/ humanity
so im thinking just convert into a quant / quark of light_know thyself_sleeper awakens💫
& force fusions out💥📡 of resolutions to those humans👺🙈🥶_for they know not what they do
= 🧲returns⚡✨= 🧲pure baes = procreate suns🌞futures while we still can🦿_period🧮🛸
Do you believe in Jesus?
Hey , Jesus I have commited many sins !
Please forgive me .
Too many Quants......feeding frenzy.
Not related to quant, I want to comb your hair.
Lol.. I usually have bed hair in my video. When I leave the house I make sure it looks presentable.
Bro you legit look like Jesus.
are u a billionaire?