[nearestneighbor]

In fact, we were basically the trader’s little bitches, and any quant who’s honest with himself realizes that.

I wonder what it is that traders do that they can't be replaced by software? How do they manage to generate more value than quants?

[Psyonic]

Software doesn't have a frat buddy working at the bank across the street.

[astrofinch]

Why is that advantageous?

Trading is a zero-sum game, right? So how does having an alliance with a competitor help out much?

[Psyonic]

Because plenty of deals are negotiated off the market.

[astrofinch]

What sort of deal? What could the advantage be of negotiating a deal off the market? Deals are zero sum, right? If you and I make a deal where an item is transacted for above market value, or below market value, one of us is going to lose out as a result.

[SkyMarshal]

I think it's a matter of being book smart vs being street smart. There's still room for both.