Overview and Vision

We are Sovereign, a proprietary trading fund. We're building a unique approach to IP that enables individuals to retain full rights to the IP they create, ensuring value alignment between the individual and the company. Concretely, an individual will have the right to spin-off their IP into a separate company, of which Sovereign will have an option to acquire 20%.

This approach minimizes the need for conventional employment limitations and constraints, offering increased slack. Our goal is to assemble a team of high-variance individuals, affording them the time, freedom, and motivation to discover and attempt their visions.

In the context of financial markets, higher-variance can lead to extreme results—from wild successes to uninvestable failures. Assuming an exponential distribution of outcomes, the expectation of the process grows with its variance. Variance will grow when individuals are unconstrained.

This process also produces uncorrelated results, creating an ideal environment for debate in a field where intellectual honesty is a prerequisite. We aim to build a lab where diversity of ideas obtained through independant exploration leads to quality collaborations and discussions.

Role Summary: Portfolio Manager

Responsibilities:

• Generate profitable intellectual property with limited direction but ample support.
• Lead the creative and iterative processes to produce this IP.

Potential Projects:

• Any trading approaches that can realistically lead to live evaluation of profitability in less than a year.
• For an applicant with a forecasting tournament background, a potential project could involve deriving binary questions from investment theses sourced from various sources (SeekingAlpha, 13F filings, etc.) and constructing a portfolio based on probability assessments.

Qualifications:

• Proof of competence is preferred. This refers to accomplishments that, preferably accomplished independently, showcase distinct capability. For instance:
  • Technical contributions to a notable GitHub Repo.
  • Top placements in major competitions (e.g., Kaggle Master, Top 10 Manifold Markets).
  • Interesting research made public, especially as first author.
  • Having non-consensus opinions and the depth of understanding to defend them.

Compensation:

• Performance bonus based on a significant PnL split.
• Discretionary bonus tied to contributions to the lab ecosystem.
• Ownership rights to any developed IP.
• Competitive base salary.