Finding success on Wall Street used to be like winning a popularity contest, now it’s now more like beating a computer game.
The guys dominating on Wall Street have not been the same guys that were BMOC for probably over 20 years now. They just hadn’t gotten that much attention yet.
“They are the type of guys you would see at a Star Wars convention,” Sang Lee of Aite Group told Reuters.
It’s the recent growth in high frequency trading in particular that has paved the way for geeks to take over the market – and get noticed for it, something the ‘introverts’ are not necessarily used to.
In HFT, there is no need for personal relationships; computers and algorithms are the only things that matter.
Reuters reports: “The difference is anonymity. If you play a game with the same people over and over again, you reach an understanding about what’s acceptable. If the game is completely anonymous, there are no rules between people, there are only rules imposed by the marketplace.”