Is Manoj Narang of Tradeworx trying to be the unspoken official rock star of quant and HFT?
This guys who seems to everywhere press wise from CNBC, PBS, 60 Minutes, etc. He is obviously some press glory hound
trying to be some spokesperson of this word known as quant and HFT. It gets kind of scary when you see him everywhere.
He is obviously pretty smart to graduate from MIT but let’s face it, the everyday person is not going to pick up
quant in a day with the heavily advanced math algorithms that Einstein may be challenged with.
His firm is now commoditizing the world of high frequency trading. The sister company known as Thesys Technologies LLC is also selling its infrastrcture to the highest takers. Also, he is offering individual investors (on his site):
Tradeworx Power Tools for Individual Investors
So do we need to worry? Is this guy a glory hound or just making extra money off his work with Tradeworx trading infrastructure. It does not seem to be anything earth shattering. It contains:
The following skills are preferred but not required:
Proficiency in Unix, Linux, and/or BSD programming, C/C++/STL, Python, bash, Awk,
This was from a job description off the site.
I have to give this guy props for being in the game early. In 1999, he got over $1.2 million in funding for his tools. He also says:
“Everything is just geared toward day traders. The reason they don’t make any money is that they’re paying for these transaction costs again and again,” he says.
“Transaction cost” is a sophisticated trading concept related to market timing and other factors, Mr. Narang says.
According to Linked In, Manoj’s entire career was Goldman Sachs as a VP and then launched Tradeworx.
If this is correct, the following salaries don’t really excite me:
|Title||Employer||Salary||Location / Date / Further Info|
|Software Quantative Analyst||Tradeworx||$80k||Red Bank, NJ (03/2007)|
|Quantitative Analyst||Tradeworx||$90k||Red Bank, NJ (03/2007)|
|Software Quantitative Analyst||Tradeworx||$80k||Red Bank, NJ (06/2009)|
|Senior Quantitative Analyst||Tradeworx||$120k||Red Bank, NJ (06/2009)|
|Senior Quantitative Analyst||Tradeworx||$125k||Red Bank, NJ (06/2009)|
In another job description, there is some advanced development needs:
Must be proficient in Unix, Linux, and/or BSD programming, including C/C++/STL and,ideally, two of the following languages: Python, bash, Awk, TCL/Tk, Perl.? Linux kernel programming and/or device driver development knowledge a big plus.? Experience in network, parallel/distributed, multithreaded, and/or FPGA programming will be aplus.
Some more job descriptions of what is used at Thesys:
Highly qualified BS, MS, and PhD graduate from top programs in Math, Physics, CS, EE, Bio, and Chem
- 5-10 years of related work experience (Financial industry experience is NOT a requirement)
- Must be proficient in Unix, Linux, and/or BSD programming, including C/C++/STL and, ideally, three of the following languages: Python, bash, Awk, TCL/Tk, Perl, SQL.
- Experience in the following are not required, but beneficial:
– Network, parallel/distributed, multithreaded programming
– VWAP or other algorithmic trading system
http://www.thesystech.com/career.htmFACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!