Susquehanna International Group
also referred to as: susquehanna
14 statements across 1 episodes · 4 bullish · 0 bearish · 1 people on the record · first statement Sep 7, 2021 by Todd Simkin · said 16 times in 1 episodes since 2021 · across every show →
Mentions by year
brought up most by Shane Parrish (9), Todd Simkin (7)
tap a year for its mentions
2021 16 mentions in 1 episode
Everything said about Susquehanna International Group, oldest first
Sep 7, 2021 positive
Simkin: Strict binary rules reduce cognitive load better than flexible principles
“It's so much easier if you have a rule than if you try to have a principle, right? That I don't eat dessert is so much easier than each time that you have the opportunity to have dessert to say, well, I don't eat a lot of dessert. Is this one of the times that…”
Sep 7, 2021
Simkin: Susquehanna shields feedback providers from knowing a trade's financial outcome
“When people talk about trading decisions that they've made to more experienced traders or to peers who can give them feedback on it, we do everything we can to shield The person giving feedback from knowing the results.”
Sep 7, 2021 positive
Simkin: Trading is running continuous experiments where failure drives success
“In the world that I live in, you know, for better or worse, we know that we're going to make mistakes all the time, that we are effectively just running experiments and getting feedback and then updating our approach and running a new experiment again the next…”
Sep 7, 2021
Simkin: Susquehanna's founders tested decision principles in Vegas poker before trading
“The founders of Susquehanna were in college together. And they studied an array of subjects, but what really brought them together was that they played poker together and were able to talk about the decision process in their poker game in, in a really nice way…”
Sep 7, 2021
Simkin: Effective mentorship models the decision process rather than prescribing actions
“And a big part of how information is passed from the mentor to the mentee is by modeling the decision process. It is not enough to say you should have raised vol by two points when this trade came in. Instead, it's so much more important to say, okay, when thi…”
Sep 7, 2021
Simkin: Calibrating forecasts requires frequent, uncorrelated repetitions and feedback
“If the only thing that you predict are very hard to predict outcomes and you predict them very rarely, you're not going to be able to calibrate very well at all. On the other hand, if you predict many different things that particularly if they're uncorrelated,…”
Sep 7, 2021
Simkin: Joined SIG with no finance knowledge after studying deaf culture
“I joined Susquehanna in 1997 straight out of college. I went to University of Virginia undergrad. Unlike sort of the stereotypical finance background, I studied a combination of anthropology, psychology, linguistics, and education. And I, it was combined into …”
Sep 7, 2021 positive
Todd Simkin: SIG operates on the belief that traders are made, not born
“Susquehanna has always had a very growth mindset perspective on, on teaching trading, you know, before Carol Dweck had even shared her views on growth mindset. That is, that has always been the company's position is that traders are made, not born.”
Sep 7, 2021
Sep 7, 2021 positive
Sep 7, 2021 neutral
Simkin: Jeff Yass threatened to fire him over bad Jeopardy wagers
“Jeff Yoss, the founder of, you know, one of the founders of Susquehanna, the chief risk manager at Susquehanna came into my office. Before I went and he said, Todd, nobody cares if you know anything about American history, but if you screw up the betting on, o…”
Sep 7, 2021
Simkin: Use related instruments to find disconfirming evidence before taking trades
“And again, in isolation, it's really hard for me just to say this person's wrong. But if I have a similar looking option, similar because it's the same expiration, or because it's the same strike and a different expiration, or that there's something about the …”
Sep 7, 2021 neutral
Simkin: Traders should not back limited opinions against informed counterparties
“Our approach is to recognize that we are often on the bad end of informational asymmetry that other people who are looking to trade in the markets frequently know more than we do. And as a result, we don't want to back our own limited opinion against a more in…”
Sep 7, 2021 neutral
Simkin: Decision-makers must update opinions in a Bayesian way
“The most important thing from our perspective is to be willing to update that opinion in a Bayesian way, to use approaches that are going to be inclusive of all the information available to us, and only when we get to mutually exclusive information or mutually…”