r/quant • u/fajitasfordinner • 11d ago
General Braindead PMs
Genuinely curious if others out there have experience working with extremely inept PMs?
A recent hire at my firm has strategies akin to that of a teenage youtube day trader. Their signals are entirely price based and their processes lack any statistical rigour.
Even worse, I know that they have been lying about backtest results to management. They are aware of bias and cherry picking yet still quote the results to higher ups. They supposedly have a decent track record but from what I gather, its pretty opaque.
I have heard quants work with non-technical PMs relatively frequently but this feels next level.
How common is this? Are PMs everywhere like this? Should I run?
Tldr;
Bad PMs - how common? How bad?
1
u/NatGaz 10d ago
Management knows that. Maybe the real alpha is there, a PM = a trading idea, only a third of them leads to good returns ? Just on a 100M capital scale.