[flourpower471]

Drs rediscover integration is about people stepping far outside their field of expertise.

It is neither deception or ignorance.

It's the same reason some of the best physics students get PhD studentships where they are basically doing linear regression on some data.

Being very good at most disciplines is about having the fundamentals absolutely nailed.

In chess for example, you will probably need to get to a reasonably high level before you will be sure to see players not making obvious blunders.

Why do tech firms want developers who can write bubble sort backward in assembly when they'll never do anything that fundamental in their career? Because to get to that level you have to (usually) build solid mastery of the stuff you will use.

Trading is truly a complex endeavour - anybody who says it isn't has never tried to do it from scratch.

Id say the industry average for somebody moving to a new firm and trying to replicate what they did at their old firm is about 5%.

Im not sure what you'd call a problem where somebody has seen an existing solution, worked for years on it and in the general domain, and still would only have a 5% chance of reproducing that solution.

[Izkata]

> Drs rediscover integration is about people stepping far outside their field of expertise.

> It is neither deception or ignorance.

How is it not ignorance of math?

[jjmarr]

> Being very good at most disciplines is about having the fundamentals absolutely nailed.

> In chess for example, you will probably need to get to a reasonably high level before you will be sure to see players not making obvious blunders.

To extend the chess analogy, having the fundamentals absolutely nailed is critical at even a mid-level, because the payoff/effort ratio in avoiding blunders/mistakes is much higher than innovating or being creative.

The process of getting to a higher level involves rote learning of common tactics so you can instantly recognize opportunities, and then eventually learning deep into "opening theory" which is memorizing 10 starting moves + their replies because people much better than you have written lengthy books on the long-term ramifications of making certain moves. You're learning a vast repertoire of "existing solutions" so you can reproduce them on-demand, because those solutions are battle-tested to not have weaknesses.

Chess is a game where the amount you have to lose by being wrong is much higher than what you gain by being right. Fields where this is the case want to ensure to a greater extent that people focus on the fundamentals before they start coming up with new ideas.

[jasonfarnon]

write bubble sort backward in assembly

you mean backporting a high-level implementation to assembly? Or is writing code "backward" some crazy challenge interviewees have to do now?

[staunton]

Spell the assembly backwards out loud with no prior notes while juggling knives (shows boldness in the way you approach problems!) and standing on a gymnastics ball (shows flexibility and well-roundedness)...

[chronic7202h]

> Id say the industry average for somebody moving to a new firm and trying to replicate what they did at their old firm is about 5%.

Because 95% of experienced candidates in trading were fired or are trying to scam their next employer.

“Oh, yeah, my <insert HFT pipeline or statarb model> can do sharpe <random int 1 to 10> for <random int 10 to 100> million pnl per year. Trust me bro”. Fucking annoying

[flourpower471]

Obviously not true. The deals for most of these set ups are team founders/pms are paid mostly by profit share. So the only scam is scamming yourself into a low salary position for a couple years till they fire you.

Orders of magnitude more leave their jobs of their choosing than are fired.

[chronic94057]

> The deals for most of these set ups are team founders/pms are paid mostly by profit share.

These PMs are not the ones job hopping every year.

And 95% of interview candidates are not PMs.

> So the only scam is scamming yourself into a low salary position for a couple years till they fire you.

200k-300k USD salary is not low.

And 1 year garden leave / non compete? That’s literally 0.5M over 2 years for doing jack shit.

This is very appealing for tech SWEs or MBA product managers who are all talk and no walk.

But even with profit share / pnl cut, many firms pay you a salary, even before you turn a profit. It eventually gets deducted when you turn a profit.

> Orders of magnitude more leave their jobs of their choosing than are fired.

Hedge fund, maybe. Prop trading, no.