Jeffrey S. Yass started as an options operator on the floor of the Philadelphia Stock Exchange in 1981, he was so fascinated by the opportunities in trading options that he called several of his college friends to promote their careers as traders. During the 1980s, he trained six of these friends as traders, in 1987, Yass and his friends joined to form Susquehanna Investment Group, the firm has grown rapidly and now employs 175 people, including 90 traders, nowadays , Susquehanna is one of the largest options trading companies in the world and one of the largest entities in trading with trading systems.
Jeff looks for the nuances of market inefficiencies through complex standard pricing models of options, however, the essence of Yass’s approach is not necessarily to have a better model, but rather to place greater emphasis on the application of the mathematical principles of game theory to maximize profits. For Yass, the market is like a giant game of poker, and you have to pay close attention to the skill level of your opponents, as Yass explains in one of his analogies with poker: “If you are the sixth best poker player of the world and you play with the five best players, you’re going to lose. “
Originally posted 2021-03-30 06:35:36.