A new breed of traders on Wall Street… NYTimes

From the NYTimes’ Dealbook:

“And as these firms have grown, so has the demand for a new breed of Wall Street trader — one who can build financial models and write computer code but who also has the guts to spot a market anomaly and bet big with the firm’s capital.

In a word, these are not your suit-and-tie bond and stock traders of yore, riding the commuter train into Manhattan. They are, instead, the pick of the global brain crop.”

Here is the link:

http://www.nytimes.com/2016/02/23/business/dealbook/a-new-breed-of-trader-on-wall-street-coders-with-a-phd.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=mini-moth&region=top-stories-below&WT.nav=top-stories-below

And, as always, in successful trading/risk management the following is  essential:

“But as Mr. Lehoczky has said when asked what he is looking for in an E.T.F. trader, the ideal candidate possesses what he calls second-order knowledge — a form of intellectual humility in which really smart people can accept being wrong and own up to mistakes.”