I recently came acorss this job listing http://www.quantfinancejobs.com/jobdetails.asp?JobID=9361 Look at the required qualifications: Profitable 2 yr track record with: Maximum drawdown of 4% or below Sharpe Ratio of at least 5 ===== I find it very hard to believe that such performance records exist. Even at small capital sizes, I think it is highly unlikely. Worse, I think it is fair to assume they are calculating drawdown using daily data not monthly data which makes it even harder to believe. Finally is there realy alpha in "tick data"? Maybe I am just uninformed...but this all seems quite strange to me. Please share your thoughts and experiences. Thank you.