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Aneet's Unconventional Career Path
- Aneet Chachra started his career as a programmer at a big bank and then transitioned to quant and portfolio management roles.
- His unconventional path involved learning various market insights through diverse roles in technology, hedge funds, and equity analysis.
Model Behavior Over Reality
- Mapping market participants exactly is less useful than modeling how their behavior might change over time.
- Marginal flow, or what participants do at the edge, drives price impact more than a static snapshot of holdings.
Four Market Profit Strategies
- There are four key ways to make money in markets: buy and hold, high-frequency trading, fundamental analysis, and flow effects.
- Flow effects occupy a one-day to one-month horizon and arise from inflexible market participants needing to transact.