[QUANTRAGE] WHY ARE THERE NO QUANT FIRMS IN AFRICA??
For context, I am a POC living in America and would really like to be in a place where I'm not oppressed (black lives matter asian lives matter whatnot), and working in a prop shop and hedge fund is my end goal. I've been through the application process for many firms in America: from being a VLOOKUP machine for Akuna to playing 30 IQ games with SIG to rolling a 120-sided die at Jane Street to being grilled on how to build a useless electric grid in Staten Island for HRT. Going through tens of hours of interviews with such firms, I couldn't help but notice how white and heteronormative these interviews are. Out of over 15 rounds of interviews, I have only had THREE interviewers with an ethnic name, and all of them were Korean or Chinese (not Japanese because they don't sound like the anime characters I like). This led me to consider hedge funds outside of America, specifically Africa, but I couldn't find any with a cursory search on Google (other than Laurium Capital which is a Tier 5 firm).
I'm so sick of the lack of affirmative action in money. The slave trade absolutely gutted so many ethnic minorities, and yet there has been little to establish a greater than Tier 3 quant firm in the heart of Africa. I'm sure there have been many civil unrests across the continent regarding this, given how useful quant is to society. This isn't just me being selfish; it provides so much liquidity and value to the general population. For example, consider Abdullah the Egyptian Coffee Farmer.
All I desire is for a quant firm considered at least Tier 3 (think Jump Trading, CitSec, Headlands, Aquatic, Radix, JS and HRT [technically Tier 1 and 2, but that's beside the point]) by a general majority based in an established African country like Mozambique or Nigeria. I'm sure this is possible given the technical prowess of many international classmates I know from these regions, so what's stopping this? Is it Chinese parents gatekeeping underprivileged students from ever making anything higher than Blue MOP? Or is there a higher transaction fee for those trading further from the NYSE? Knowing that I now have secured an internship at a hedge fund here in America (sadly below Tier 3, but with higher prospects for next year), I want to make sure that I can help establish a prop shop of my dreams in Africa, and have this be a shining beacon of equality in the racist world of finance.
did your GF leave you for a black guy?
Please tell me this is a troll post...
In case it isn't, someone who is very concerned about racism maybe shouldn't say things like: "not Japanese because they don't sound like the anime characters" and "Chinese parents gatekeeping underprivileged students".
To answer the actual question, funds are where the money and talent is. Talent goes where the funds and money is. If you go to Thailand, Colombia or many other countries you wont find any quant funds either. There's a lack of infrastructure, favorable regulations and so forth. Most people that are given the chance to work in a fund will chose to do so in an established firm/country with a guarantee of making good money. It's probably possible to start a quant fund in most countries but convincing talent to actually commit is a different issue. I am not an expert on this as I am sure there are a lot more issues associated to why funds are mostly localized around a few countries but in any case it's not about race as it's not like only white and asian people are allowed to start a fund...
*Colombia
Pls fix thx
Only for you
Why are you dismissing successful funds in Africa? I have heard great things about Laurium Capital for instance
I am not dismissing anything. I am just saying in general it is hard to find anything outside of the hub cities. I didn't do any research for this comment as I was just explaining the economics. OP is the one who said that there are no funds other than tier 3.
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