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The story of Jane Street X Millenium battle over the 1 Billion Dollar strategy 👇👇 Last week, In a high-stakes legal battle, Jane Street a proprietary trading firm accused Millennium Management and two former employees of stealing a secret trading strategy that netted $1 billion in 2023. The strategy involved short-term options trading in India, a detail accidentally revealed in a Manhattan federal court. During a court hearing, Jane Street tried to keep the details of this strategy secret, arguing that revealing more could let competitors copy and weaken their successful trade. Despite Jane Street's efforts to keep the strategy confidential, Judge Paul Engelmayer denied their request for a restraining order, citing the strategy’s previous coverage in the media and government reports as evidence it wasn’t as secret as claimed. The two ex-employees, Doug Schadewald and Daniel Spottiswood, and their new employer argued that market conditions, not any stolen secrets, led to changes in profits. Millennium, trading much less than Jane Street, made only $4 million compared to Jane Street's $185 million in the same period. The hearing ended with no restrictions on Millennium, allowing them to continue trading. This court case highlights issues of secrecy and competition in trading, showing how important and sensitive trading strategies are on Wall Street. Both firms are preparing for more court actions, which could further reveal details about the secretive trading world. To think that Indian Markets are so hot right now that foreign firms are churning 1 billion dollars from a single strategy is insane. Let’s us know your take on who will eventually win the lawsuit. Do share with the ones who might find this useful ❤️ #quant #hft #quantitativeanalysis #datanalysis #financialanalysis #riskmanagement #analytics #datascience #janestreet #optiver #hrt

If you are excited about Quant, this is something you HAVE to participate in 📚

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🚀 Exciting Opportunity for Students and Data Scientists! 🚀 Join the Trilemma Beta Forecasting Tournament hosted by Trilemma Capital, a Canada based leading proprietary trading firm specializing in quantitative trading of Bitcoin ETF options using advanced machine learning models. Compete for a $1,000 USD cash prize and a chance at a full-time Data Scientist position with a salary up to $150,000 USD! 📅 The tournament runs from July 8th to July 29th. 📅 📊 Over 4 weeks, participants will submit weekly forecasts predicting Bitcoin's next 7-day percentage change. Trilemma Capital mitigates typical crypto investment risks such as private key management, exposure duration, and long-only investments. 🔗 Learn more and register here: https://lnkd.in/ganZdfz3 👔 Check out the job posting: https://lnkd.in/gU9wptGk Don't miss out on this incredible opportunity to showcase your skills and join a cutting-edge team! 🚀

An Awesome post by Citadel on what a "Day in the life of a Quant Researcher" looks like. Give it a read!

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G.O.A.T

Jim Simons, the financial titan who launched the Medallion Fund and achieved an unparalleled 66% average annual return over 36 years! With Renaissance Technologies managing over $60 billion in assets today, Simons retired with a Forbes-estimated net worth of $31 billion. How did he do it? Well, for one, he never hired Wall Street analysts! Born in 1938 in Brookline, Massachusetts, Jim is a legend in finance and mathematics. By age 20, he earned a bachelor's degree from MIT and later completed his Ph.D. at UC Berkeley. After a brief stint at Harvard, Simons joined the Institute for Defense Analyses during the Cold War, where his interest in the stock market began. In 1978, he founded Monemetrics, later known as Renaissance Technologies, with a vision to use mathematical models in trading. At 40, he founded Renaissance Technologies in a storefront office in a Long Island strip mall, convinced that he could predict the market's movements with the same certainty as mathematical equations. Simons is credited with pioneering high-frequency trading (HFT) and automated trading, revolutionizing the financial industry. He was the first to solve the market's complex financial problems using mathematical models, laying the groundwork for modern algorithmic trading. Beyond finance, Jim Simons is the largest private philanthropist for the mathematics community. His Simons Foundation has donated hundreds of millions to support research in mathematics and the sciences, making significant advancements in these fields. Simons's incredible journey is detailed in the book "The Man Who Solved the Market," which explores his groundbreaking work and the creation of the quantitative finance industry. Jim Simons's story is one of brilliance, innovation, and impact. His contributions to finance and mathematics have changed the world, and his philanthropic efforts continue to inspire. #JimSimons #QuantFinance #Mathematics #RenaissanceTechnologies #Legacy #Philanthropy #BestInvestor #HFT #AutomatedTrading

The story of Jane Street X Millenium battle over the 1 Billion Dollar strategy 👇👇 Last week, In a high-stakes legal battle, Jane Street a proprietary trading firm accused Millennium Management and two former employees of stealing a secret trading strategy that netted $1 billion in 2023. The strategy involved short-term options trading in India, a detail accidentally revealed in a Manhattan federal court. During a court hearing, Jane Street tried to keep the details of this strategy secret, arguing that revealing more could let competitors copy and weaken their successful trade. Despite Jane Street's efforts to keep the strategy confidential, Judge Paul Engelmayer denied their request for a restraining order, citing the strategy’s previous coverage in the media and government reports as evidence it wasn’t as secret as claimed. The two ex-employees, Doug Schadewald and Daniel Spottiswood, and their new employer argued that market conditions, not any stolen secrets, led to changes in profits. Millennium, trading much less than Jane Street, made only $4 million compared to Jane Street's $185 million in the same period. The hearing ended with no restrictions on Millennium, allowing them to continue trading. This court case highlights issues of secrecy and competition in trading, showing how important and sensitive trading strategies are on Wall Street. Both firms are preparing for more court actions, which could further reveal details about the secretive trading world. To think that Indian Markets are so hot right now that foreign firms are churning 1 billion dollars from a single strategy is insane. Let’s us know your take on who will eventually win the lawsuit. Do share with the ones who might find this useful ❤️ #quant #hft #quantitativeanalysis #datanalysis #financialanalysis #riskmanagement #analytics #datascience #janestreet #optiver #hrt

🚨🚨This mind boggling brainteaser was asked in this intern season's Jane Street Interview. 🤯🤯 The rudimentary method of shuffling a pack of cards is to take the pack face downwards in the left hand and then transfer them one by one to the right hand, putting the second on top of the first, the third under, the fourth above, and so on until all are transferred. If you do this with any even number of cards and keep on repeating the shuffle in the same way, the cards will in due time return to their original order. Try with 4 cards, you will find the order is restored in 3 shuffles. In face, where the number of cards is 2, 4, 8, 16, 32, 64, the number of shuffles to get them back to the original arrangement is 2, 3, 4, 5, 6, 7 respectively.