[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y ] [Search | | Home]

Computational finance

This is a blue board which means that it's for everybody (Safe For Work content only). If you see any adult content, please report it.

Thread replies: 33
Thread images: 2

File: 1484458188449.gif (3MB, 427x453px) Image search: [iqdb] [SauceNao] [Google]
1484458188449.gif
3MB, 427x453px
Are you fucked if you want to work in quant finance and don't have a PhD?
>>
nah your fucked because machine learning will be primary driver forward and they'll use like 1 programmer per fund
>>
>>2806210
You should at the very least have a BS from relevant field. Quants more usually come from EE/CS/EECS/Applied Math/Statistical Physics because it's simpler to teach an engineer finance than it is to teach a business major programming/math.
>>
>>2806215
What about people who specialize in ML?
>>2806221
What if I have the equivalent of a master's degree in a relevant field but my degree is only recognized as such in my own country?
I'd apply to PhD programs after graduation, but even though I'll have the necessary skill set by then, I won't have the piece of paper.
Between hedge funds, algo shops, HFT shops, and investment banks/PE firms, which have the highest barrier to entry in terms of the required level of education?
>>
pls
>>
>>2806254
>What about people who specialize in ML?

That's the 1 programmer
>>
>>2806759
I thought quantitative analysts faced more and more competition, but that the job market for quant devs was much better, was I mistaken?
>>
>>2806210
not gonna happen, retard
>>
>>2806822
Why?
>>
>>2806215
>>2806759
they use way more than 1 programmer. These systems are constantly changing and require a large amount of man power to maintain on a institutional level. rentech, the most successful hedge fund to ever exist almost exclusively employs postgrads from the mathematics, statistics, and physics fields. There is a lot of research to still be done, but this approach has proved to be the by far the most profitable way to trade.its growing and will continue too. people that don't accept this as the future will be left behind in a decades time.
>>
>>2806210
It's not about having a PhD, it's about being really good at math. Which you aren't.
>>
>>2806839
>rentech
Getting in there is pretty much impossible unless you're a genius. I'm asking about the more 'conventional' funds/algo shops
>>
>>2806853
>Which you aren't.
And learning is impossible?
I have a software engineering background and some time to spare.
>>
>>2806855
meta trader has a extensive platform, quandl will give you an ok set of data, and the api, csv or whateverr, and you can just write something in phython or c++
>>
>>2806876
Will a good track record help make me employable?
>python or c++
I know both, looking into R and OCaml right now
>>
>>2806210
Quants are an oversaturated meme and you'll never make it if you're white.
>>
>>2806976
"Quants" can mean either quantitative analysts, quant devs, or quant traders, all three of which have different barriers to entry as far as I know.
>>
>>2806907
in reality you need to know the math, the coding can be taught easier. hidden Markov models, information theory, speech recognition. there are alot more different approaches, but that kind of stuff they do,(or used to)
>>
>>2807013
yea you're right i was more talking about the field as a whole, there are definitely more niche roles within a organization. but there is where my knowledge ends.
>>
>>2806210
Yes.

Places like RenTech that actually do quanititave trading recruit pretty much exclusively MIT/Caltech/Princeton math and physics PhDs
>>
>>2807015
>you need to know the math,
Right now I'm not doing anything and I have time so I can learn. Should I just focus on machine learning and the related math, as well as statistics? That's what I figured.
>>2807021
>the field as a whole
The field as a whole doesn't seem saturated, I might be wrong though
>>2807025
Rentech only hires the very best because they're the best. But not every quant works there. There are plenty of other firms
By "I want to work in quant finance" I don't mean "I want to get hired at rentech", I know that's not happening.
>>
>>2807036
i don't think its saturated, i was just using ren tech as a proof that quant analysis works there are tons of firms and funds using it. its new and growing. https://www.youtube.com/watch?v=wvXDB9dMdEo&t this is the lecture series i watched when i first started. i think its got a good groundwork of whats going on.
>>
>>2807068
Sorry I mistook you for another poster. Thanks for the link.
>>
>>2807068
Also, would I be wrong in assuming that recruitment for financial engineers (those who price products by modelling) and quant devs (those who optimize models and infrastructure or deal with pricing data) is less cut throat than for the researchers who actually come up with the algorithms and models used by funds?
>>
>>2807136
the logic seems sound, but your guess is as good as mine. I just started learning about all this during summer. So i've been waiting to get back to school to talk to my professors about how to pursue a carrier in this field, mind you I'd like to go the more mathematical direction and avoid as much code as possible.
>>
>>2807162
Are you a math, physics or stats major? If you go to grad school you'll probably have a good shot, at least according to what most websites on the subject say.
As far as I know I'm at a severe disadvantage due to my degree not being certified thus preventing me from getting into grad school.
>>
>>2807173
i was a finance major math minor, then i did always plan on a financial mathematics postgrad, although after everything ive read this summer. it almost seems more beneficial to drop finance to a minor and just go head first into mathematics. yea I do think grad school is probably quite beneficial, especially due to the new nature of the field. If the school you're at isnt doing active research(like mine all the research at my school is in geometry, so ill have to move for grad school) the information they teach you may be incorrect or at least behind the curve.
>>
File: f93.png (279KB, 898x790px) Image search: [iqdb] [SauceNao] [Google]
f93.png
279KB, 898x790px
>become a pro at calculus and quantitative analysis
>become good at programming
>launch your own trading bot and become wealthy yourself instead of using your brain to make others filthy rich
>>
>>2807220
>financial mathematics postgrad
Like those MFE masters? I heard those were saturated.
>due to the new nature of the field
Apparently it's also because firms that deal with quant finance have a work environment similar to research institutions or something like that.

>If the school you're at isnt doing active research
It's a technical school that focuses on CS/SE. Those who graduate are very good programmers and easily find jobs, but there's little focus on the more theoretical parts of CS. It's more about software engineering.
I'm debating whether to apply to a math BSc once I graduate next year. Education is free here but it's going to take a long time to get into grad school at this rate.
>>
>>2807286
Maybe, as I said, I've not yet been advised as to how to move forward. although I'm most likely going to at least attempt a PHD in who knows exactly what(probably some mathematical concentration), my folks said they would allow me to if I get into a program, so it seems like a huge waste not to.

yea, and also the IP is guarded so closely that when one company make an advance, they keep it a secret for as long as possible. slowing down academia, who dont make the breakthroughs in this field anymore, because they work for quant firms. I've heard that operate in the scientific method more or less. Just look at is as a data set.

I mean yea, whats the saying you gotta be the best at one thing, really good at 2 things, or pretty good at 3 things. trick in quant is to find that perfect balance of CS, finance, and math. maybe you're a good enough coder(who's also knowledgeable in finance and math) that you're useful to someone. Also there's going to be grunt work in any industry, which is generally a pretty good way to get a foot in the door and attempt to prove you're worth more to your employer.
>>
>>2807421
>if quants reveal their secrets, the government will put them to jail
Fuck copyright, seriously. It just reeks of communism. All those companies need to stop being reliant on the government protecting them for the sake of prosperity.
>>
>>2806210
C'EST PARCE QUE LES GENS EN ONT PLEIN LE CUL DES ARABES!!
>>
>>2807276
SLOw down anon, this thread is for genius wagecucks only, the kind satisfied with an office and an employee of the year plaque
Thread posts: 33
Thread images: 2


[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y] [Search | Top | Home]
Please support this website by donating Bitcoins to 16mKtbZiwW52BLkibtCr8jUg2KVUMTxVQ5
If a post contains copyrighted or illegal content, please click on that post's [Report] button and fill out a post removal request
All trademarks and copyrights on this page are owned by their respective parties. Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the content originated from that site. This means that 4Archive shows an archive of their content. If you need information for a Poster - contact them.