What is edge in trading—and how do hedge funds and quant traders find edge in 2025? According to Agustin Lebron, former quant trader at Jane Street and author of The Laws of Trading, edge is what separates average traders from those who thrive at a top hedge fund. But today, finding edge requires more than just a good model—it demands judgment, adaptability, and a deep understanding of how quant trading firms actually operate.In this episode, Agustin breaks down exactly how quant trading works, how elite firms like Jane Street maintain their edge, and how quant funds make money in both calm and chaotic markets. He shares hard-earned insights on how to become a quant trader, the realities of trading internships at hedge funds, and what it really takes to get hired at Jane Street.He breaks down:– What is edge in trading and how to know if you have it– How elite quant firms like Jane Street develop and defend edge– Why edge is statistical—but also deeply judgment-based– How to get hired at Jane Street and succeed in a Jane Street intern experience– What makes a good trader (hint: it’s not just math)– Why some trading models fail during market crises– How small quant shops compete with large firms– How to stand out in a hedge fund or quant internship– Should I become a quant? Questions every student should ask– Why quant trading firms 2025 will look different—and whether AI will replace traders in some rolesAgustin also shares how young people can find their personal edge in a world transformed by AI, automation, and rising inequality. His advice? Don’t chase status. Follow curiosity. Learn where real value comes from.
