Morgan Stanley - Process Driven Trading
These guys just came and did a big presentation at Stanford. They seem to be MS's proprietary high frequency algorithmic trading group. As far as I can make out, there isn't much of a lead role for undergrads to play in such a desk - you're either doing research or doing development/implementation.
DOes anyone have more info on these people? Does Goldman Sachs have a comparative group? What's their reputation - I know that David Shaw came out of prop at Morgan Stanley
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I am not 100% on this but
I am not 100% on this but its basically a big fancy name for running a stat arb desk. Ultra high frequency stat arb is like IMO sucking up pennies with a shop vac. Very low margin, very very high turnover.
That sounds pretty good in
That sounds pretty good in this market. I'd rather pick up nickels than get run over by a bulldozer. Does anyone know more?
There was a profile in the
There was a profile in the journal of the group's head, Peter Muller ... it shouldn't need to be said, but this is obviously an elite unit if they can do their own recruiting.
Specific units of GSAM within Goldman serve a similar function, though they probably are much bigger in terms of headcount.
If you have the chops to get into one of these places (maybe 3 of 100 odds?), you could probably get into all of them, and so the decisions you have to make are more things like culture (big shop vs. small, shirts and tshirts vs business casual) and risk (would you take 2-3X pay for a smaller, less-known 15 person shop with no name?)