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Thanks man. I'm watching. Happy to answer questions as best I can.

I need investment money or an equity partner I can trust. But I hope it is some time this year.

I tried it twice, first when it was close to finished and then when it was finally released. The first time it just wouldn't compile my code properly and I spent a day trying to get it to compile before giving up and reinstalling 3. Now I have both versions installed but still only use 3. I...

What makes it a left-wing overview?

Simply adding a history course would go a long way. For example, a history of financial crises like MIT's OCW course. I'm not aware of any such course being offered as part of an MFE.

FWIW, I made a blog post about app revenue models, and the Jagimo model specifically on my site: http://erichwood.com/2010/09/16/the-iphone-ad-revenue-model-for-jagimo/

Thank you all for the kind remarks! And sorry for not posting a reply sooner :) Wheel, I haven't read those books but they seem like ways for the authors to make money, not the readers. Sure, anything is possible, even making thousands of dollars after releasing your first app. But that is far...

"... big declines known as "black swan" events" Just a note, the article implies that black swan events are negative. Black swans can be positive too, but of course it is hard to think of those these days!

Wow. If you had a child this year, start saving that half a million for their education. Or, you could do the public university way, like Andy and I did (UCLA, Baruch).

Table of content Starting at Baruch MFE The Birth of an App Idea App-lying Myself Time to Submit the App Marketing the App Free-style Conclusions Part 1 - Starting at Baruch MFE One day in July 2005 I called Dan Stefanica, director of the financial engineering program at Baruch College. I had...

I'm wary of gambling analogies for a number of reasons, not the least of which is that a casino game exists within a known universe of probabilities. I suppose as long as the rest of life plods along predictably we can, most of the time, live by a gambler's rules. Just beware of the Black Swan...

I have an iPad wifi/3G and can say: It does not replace my work computer (a desktop) because I cannot program on it and it is not good for writing large documents (maybe if I had the keyboard it would be better for that). It's the best way to use the internet. I don't use my laptop at all...

Not since Clinton. Clinton quickly learned that being pro-Wall Street and pro BIG BUSINESS (nobody is pro small business) wins elections. Obama's biggest contributors were Wall Street right? The trend of big business capturing government started in the late 70's. Now, government is almost...

You will be disappointed. The era of such great movies has ended. (Hope I'm wrong.)

#6 is interesting. #8 is hilarious. I did hear something about the gun bubble a while ago.

The population growth I referred to is in OPEC countries. Take Saudi Arabia for example. Their growth rate is pushing 3%, with a very young population. Here's a decent blog post with some graphs and data. GraphOilogy: Saudi Arabia's Ability to Export Oil Saudi Arabia gets energy from oil and...

Alain, yes. Sugar-based ethanol made in Brazil is much better. The US has tariffs and subsidies in place to ensure we don't get that more-efficient ethanol from Brazil.

Thx for the article Andy. Algae has been an interesting topic for a while. There are many questions about cost and *opportunity* cost associated with algae and other biofuels. Many scientists (not so much politicians) are focusing on Energy Return on Energy Invested (EROEI), or 'Net Energy'...

To equate oil with a good that gets cheaper over time because the free market will cause producers to make more, like iPods, demonstrates a lack of knowledge of the oil industry. And the equations are useful because they keep us employed! ;)

I use no math for my personal investments (aside from general accounting). I invest in companies I know. FWIW, right now all I know is cash :) Okay, I still have a couple other stocks and gold as longer term investments too, but quant trading strategies don't factor into my personal investing...

If Google keeps every email ever sent through their servers for the next 100 years, then any particular individual email you send is practically worthless and unrecoverable without someone knowing it's there. Are you going to hand down to your children and grandchildren the 100,000 emails that...

I'll throw in that more frequent communications are not necessarily better. A weekly magazine will have insight and analysis that differs from an online news site that reports in real time. Similarly, a letter written once a month will have a retrospective quality not possible in a txt msg...

Please don't put words in my mouth (or anything else). I don't see anywhere that I said sending/receiving long letters was any 'better' than a text message, though I'm sure I could argue that point, or that letters were 'art.' However, how many emails between soldiers and their loved ones will...

When was the last time you got a letter from a friend? I remember when I was young, we'd write to each other several pages every couple of months. Some letters were so long, they'd have lines like "I have to go to bed now. I'll continue in the morning. Okay I'm back."

They shouldn't need this guy and his team to see that oil prices will be higher in the future (although they should honor contracts). Look for the next big leg up to be spurred on by population growth in OPEC countries.

To add to my promotion of energy-related careers, a slide from one of Matthew Simmons's presentations (emphasis mine): Here's the whole presentation if you're interested: http://www.simmonsco-intl.com/files/OTC%20Topical%20Luncheon%20BW.pdf

"Only" about half of the 700B has gone out to financial institutions (including AIG and the Federal Reserve). Not saying it's not a lot of money, just sayin'. If the government didn't push this capital into the system, most believe the whole financial system as we knew it would be destroyed...

1. Goldman invests gobs of money in MBS bonds 2. Goldman recognizes the MBS market is ripe for decline 3. Goldman cannot sell its MBS bonds because the market is not liquid enough 4. Goldman buys insurance ... er... CDSs from AIG 5. Goldman maintains AIG risk instead of mortgage risk 6. Sh**...

Malpractice insurance rates are a popular target, but there is little or no evidence that this actually raises health care costs. Most experts are now saying that the way doctors are compensated based on procedures, rather than results, provides incentive for waste. Many tests are ordered (as...

It's that time of the year again. We skipped a year though. Btw, that Russian ketchup is still in my fridge.

I don't know if stating your immigration status on your resume is a good idea. The phone interview won't be a waste of time and you never want to give them a reason not to call you. After you speak to them for 10 minutes, and then they find out your status, they may decide it's worth pursuing...

I believe the old rules are still in place, where a company must prove that there are no qualified American applicants or that the foreign applicant has a special needed skill. Correct me if I'm wrong about this for large companies.

I don't have a suggestion on books off the top of my head, but Energy Risk magazine has a Masterclass series that you might find interesting. It's an expensive magazine, but try the trial. Energy risk - - risk management, trading, finance, commodities in the global energy market

FWIW, I spent my July 4 on a canoe and camping in the St Regis Canoe Wilderness Area in the Adirondacks, NY. Sorry, I didn't take any pictures. It was raining, windy, and cold the entire time. Yay America!

This must be the darkest day on the calendar for BigBadWolf ;)

I thought this was a fun article. It seems if you want a tough laptop, a Panasonic Toughbook is the way to go. The Tiger-Resistant Laptop - Forbes.com

Don't be fooled, Michelle. We have plenty of undesirables...

Yup. There is no doubt in my mind that higher taxes and inflation are ahead. How else will the government pay back all the money it owes? The thing is, politics leads us to cut taxes (benefits the current generation at the expense of future generations) or spend money on non-productive spending...

On topic... I'd suggest looking into commodities, particularly energy. This from Reuters: http://www.reuters.com/article/wtUSInvestingNews/idUSTRE55H1YA20090618 As Wall St ails, oil traders weigh return to roots

Also, they will be regulated.

Is the ability to paint a sign of intelligence? Or only the ability to understand math? Because I can't paint for sh**. What about writing fiction? What about the ability to understand all the plants that can be eaten in the woods? The ability to pay attention rules out all those 'ADHD' kids I...

Yea, his whole deal is that he believes in abiotic oil, that the earth creates oil deep within rather than oil being a fossil fuel. These views are not credible and somewhat moot (regardless of how popular the idea was in the USSR in 1950). Here's a few posts from TOD with abiotic oil...

Despite the flaming rhetoric, his opinions are mostly fact-based, but missing the biggest factor of all. America's wealth in the 20th century depended on the wonderfully cheap and powerful source of energy that is oil. Whether or not you believe that peak oil is upon us already, there is no...

I don't think any of this is necessary since I believe gas prices are going back to $4 sooner than people think, which caused 83 billion fewer miles to be driven in the first three quarters of 2008 in the US and compact car sales to shoot up. And for the gov to give someone $3500 just because...

First iPhone had no GPS, just triangulation. iPhone 3G and 3G-S have GPS according to all the docs I've seen. It was a hyped addition to the iPhone 3G. http://www.apple.com/iphone/iphone-3g-s/maps-compass.html

What about the Puerto Ricans? What is their IQ? I need to know so that I can adjust how slowly I speak to my local Bodega owners. I put absolutely zero weight on IQ as a measure of intelligence. Ever read Guns, Germs and Steel? I got about a third of the way through (not that enjoyable) but his...

Teaching is not just in inner city high schools. Btw, if you are teaching high school seniors in these bad schools, many of your students are willing to learn, since if they were bad students, they probably already dropped out.

Assuming you are commenting on my 'Teaching is enjoyable and rewarding' comment, I should have said 'I find that...' Indeed, many enjoy teaching and teach even though they don't have to, like professionals who are part of this community.

Bob, throwing the American school system under the bus. My biggest problem is that some schools are great and others totally suck, and which one you go to depends on how fortunate (read wealthy) your parents are (for the most part). Regarding immigration, we will need a lot more of it if we...

Hm. Haven't posted in a while. Maybe I'll get back in the game a bit. Having browsed these posts, though skipping the second half of the first page, it seems some people really do overvalue money. Sorry if that twists the brain. Max pretty much has it right regarding the finance industry in...

Happy birthday big guy. Hope all's as well as can be.

I thought Nate Silver's take was in line with mine, but with more facts and analogies. FiveThirtyEight: Politics Done Right: Throw Out Baby, Bail Out Bathwater

There is no dress code. Come as you are.

Reminder, this Friday.

I wish this was a joke: Verizon Math Fail

Okay, so I don't know how to make the event so that it's RSVP anymore. Here's the link to the RSVP, maybe another admin will help out by fixing it :) QuantNetwork - Financial Engineering Forum - 02-20-2009

Dear Students, Alumni and Faculty, The Quant Network at Baruch's Financial Engineering MS Program is proud to present a talk from Ms. Karen Johnson, former Director of the Division of International Finance at the Board of Governors of the Federal Reserve System. Location: TBD When...

Whoa. Now we're bumping some seriously old posts. Happy birthday.

I love how people like to say this poor financial and economic period is somehow a surprise. I will be following this guy Peter Schiff's words pretty closely after seeing this YouTube video. YouTube - Peter Schiff Was Right 2006 - 2007 (2nd Edition)

I'm sorry.... what? I don't know much about him except that he was in charge of risk management for a company that went belly up due to bad risk management! This line from the opinion piece is along the lines I often cynically joke.

When my friend sent me this link, I had to bump this old thread and post it. <object width="425" height="344"> <embed src="http://www.youtube.com/v/j50ZssEojtM&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></object>

Is this thread really still alive? I thought I killed it with that 'I F'ed Billy' line. A lot of the dribble here is a little embarrassing for QuantNet I have to say. I'll just note a couple of things here. 250k is an arbitrary number. The current tax bracket for a married couple is 200k -...

I've F'd Billy and I can confirm he is *The Best*

http://www.vote.nyc.ny.us/img/votenyc.mpg enjoy.

Voting is tomorrow (or it has already been for a while if you live in an early voting state). Everybody go vote! As they say, vote early and vote often! If you are wondering where you need to vote, you can check here (sorry, John McCain's wasn't working when I tried): VoteForChange.com &mdash...

I was pretty wrong about this one eh?

I would like to know what the average bonus of this $70bn is. I think it's a little unfair to group all of the bonuses together. Compensation on Wall St. has a large bonus component. Sure, a bad exec getting a $20mil bonus while his firm is getting money from the government is bad. But I'm...

I almost hate to reply to this thread. But here goes anyway. Me. I remember one day in college a long time ago, I looked over at my roommate's bed. His girlfriend had carved into the paint on the wall "question my motives" while he was not there. That kinda stuck with me and I tend to question...

I've uploaded some pics from our hike last weekend. We hiked about 7.5 miles along the Palisades parkway. I'm not sure why the pics look so crappy. Maybe QN compresses them again when I upload.

Since it will rain tomorrow (supposedly) we should do Fat Cat.

I'd guess there are way more financial publications than energy publications (for the general public). The subject can be rather dull, discussing shipping rates and exploration equipment leasing and government regulations and company merges and hedging methodologies (more interesting for us...

#8 listed leads to bubbles. Another interesting post over there. http://anz.theoildrum.com/node/4656#more If you are not interested in the network discussion, scroll down to the first posted reply. Some interesting tidbits: The top post adds to the idea that the credit crisis is hurting...

People often ask me why oil prices have come down so much in the past few months. My usual response is 1) prices went too far up too fast, 2) demand weakening due to global economic woes, 3) tight supplies means more volatility as the market reacts to every little bit of news, 4) other stuff...

Yay. Happy birthday Maggie. What shall we do to celebrate this weekend??? Fat Cat or AC?

If by 'rock' you mean 'suck' then yeah, I'll agree. Seriously though, good series with the Rays. They are going to be a good team for a long time. I predict they will roll over the Phillies. Think about how tough the AL East is now. The fourth place team, Toronto Blue Jays, finished 10 games...

Time to buy American? Warren Buffett is. http://www.nytimes.com/2008/10/17/opinion/17buffett.html?_r=1&scp=1&sq=buffet&st=cse&oref=slogin

Heck, they came back from being down 3-1 last year. Could they possibly have yet another ALCS comeback? I'm pretty sure not. I am a Boston fan who would love to see it. But the Rays are good this year. They are tearing apart Boston's pitching. Becket has been terrible in his last two starts...

If congress does nothing, taxes will go back up to where they were before Bush took office. Those tax cuts are temporary. (Someone correct me in case this is not completely accurate.) So no matter who is elected, the tax policy will likely be the same because the Democratic congress will send a...

I thought this was gonna come out earlier this year. Man. Now I bet it's gonna suck.

A preview of tomorrow's debate: <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/l63SRpGXBHE&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/l63SRpGXBHE&hl=en&fs=1"...

Weather permitting, I would like to try this hike on Saturday. A little rain isn't bad, but we won't hike in lightening.

Yay Bob, happy birthday.

Some people are still waiting for the Nas to go back to 5k. Be careful here. Invest when things stabilize and start going up. http://finance.google.com/finance?chdnp=1&chdd=0&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=1223670657058&chddm=968507&q=INDEXNASDAQ:.IXIC&ntsp=0

I'm wondering how people are calculating the risk free rate now.

Of course it will depend on your job, but I know for my PT at Baruch is tough. Andy pretty much sums it up: run to class from work, do hw all weekend, code until 2am on some weekdays, grow bags under eyes, look tired all the time, drop all hobbies, lose non-school friends--you get the picture...

I know I may be unpopular for believing that the government should play a role in this, but government regulation/policy/incentives are required for the transition away from oil (as they were for building roads for cars). The primary thing government should be doing for the economy and business...

Hydrogen has always been cheap? The biggest cost in hydrogen is the energy cost required to make the hydrogen. Wind is the cheapest way to make it currently. But probably the most common way is with NatGas. Increase the price of energy and the cost of hydrogen goes up. Hydrogen hasn't 'caught...

Wind and Solar are mostly replacements for coal and natural gas as electricity producers. Transportation is the biggest use of oil, as Christian points out. To remove our dependence on foreign energy we need to have vehicles that run on electricity, natural gas or hydrogen. Hydrogen is way off...

Enough of Tina Faye playing Sarah Palin... Enough. Give it a little rest. Funniest part of SNL last night (I only watched until Weekend Update) was that short film with the leisure competitions. Oh yea, and The Killers rock as always.

I believe part of the 'bailout' bill that was passed last week included renewing the tax incentives for Wind. I didn't read the whole article you linked to, but I bet NJ was just waiting on that bill to be passed (the wind part) before going forward with this. Every time the wind laws expire...

I sure would hate to be a conservative right now. It's a no-win. RE: The debate, Palin made the republican base happy, but did not help the ticket on what they need: independents. She surely is queen of the non-answer. She did well, according to most, because she didn't mess up like in the...

Sounds like fun (mostly the multimedia part ;) ) I suppose if I had more time to dedicate I'd jump in. I ran a small tech company for 8 years before starting at Baruch MFE.

YouTube - Airplane! -- the wrong week to quit

If it were January, the bill would have passed. But there is an election in 5 weeks. Every member of the House of Reps is up for re-election. Republicans are especially nervous because of the party's unpopularity. Whatever the reasons, they've totally screwed us. Having a poll make up your mind...

If you would like to download higher-res versions of any of these, you can get them here: QuantNet Picnic 2008 album | Middlegray

Here you go folks, way earlier than normal, photos from the film camera.

If it's raining, I believe I'll be the only one hiking. So it should only take me a couple of hours. After that, I'd be happy to meet at Fat Cat for some ping pong and/or billiards.

I forgot to bring my oil painting supplies to the picnic.

I will have more pics next week. I have to develop and scan them.... yes, film, and they're B&W.

Well, RM said he was doing probability instead. But if you can drag him out with us... BTW, the forecast is for rain. I'm okay with walking in the rain and mud, but many may not be. So, let me know if you will hike in the rain or wait for the next one.

Vadim said probably. Maggie, Akino, Max, Billy, Vadim, Vlad, Me, maybe others? Andre? Not sure which class the makeup class is for or if Akino or Vadim are in it.

So Andy, you'll be in my 'hood and I won't be there to say hi... bummer.

Weak Greg... weak. The great thing about a hiking club is that minimum membership is 1. But we still have a few cars full to go. Max and Vadim can meet me at my place Sat. morning and I'll drive us out there (picking up Akino on the way). BTW, maybe we'll be having dinner aftwards in the city.

I bet it will take me longer to get to the Jersey side of the GW from Brooklyn than you. I have all the NY/NJ Trail Conference maps and intend to work through a bunch of the trails. I'll see which are out by you.

Alain, this hike can't be too far from you. We start at the GW. Bastian, perhaps you can do a volksmarche in Saar-Hunsruck this Saturday in solidarity.

We will need financial engineers to come up with new products that salespeople can use to trick investors.

But Maggie, the climbing is the point.

Wear comfortable shoes. For food, a regular packed lunch is good... a sandwich, trail mix, dried fruit. Also, at least 1 liter of water. A hat is good to have to avoid sunburn. Also sunscreen and bug spray could be useful. I'll have some of both.

Will hedge funds become mutual funds? CDS becomes insurance? An interesting time to be in financial engineering, huh?

So if they become banks, they will be subject to banking regulations? Maybe the Wall Street where we just rename something to get around regulations is done.

So, who is interested in hiking? I'm not talking anything terribly demanding... more like walking in the woods. I'm thinking of having a QuantNet Hiking Club. Maybe once a month we can go on a hike. The first hike will be this Saturday. It's an easy five-mile trail in the Palisades. The...

I have about 20 versions of these: ;)

My company's IT Director, who lives near Lehman, stood outside the building on Monday with a sign saying that he's looking to hire a systems administrator. He was quoted in a couple of papers and has his pic in one.

Happy birthday dude. Better late than never, eh?

I have an old Cherokee that would be good to use. No need to rent something.

Let's hope for good weather and no remnants of hurricane M, N, etc. I'd say there's a pretty low probability of me being there at 10am.

The Red Sox had no chance of making the playoffs *with* Manny IMO. It was a total distraction since the ASB, and contributed to the 4-8 record since. I don't think bos or nyy have the goods this year, but who knows. Go Rays!

I have the Panasonic SD9. Real good quality and good sound. But there is a tradeoff with getting a small package. The SD9 has great sound, but no mic input (probably doesn't matter to most people). It also has 3 chips, so the color is good, but they are 1/8" chips which means low light isn't as...

If you completed an MS in stats with good grades and got close to 800 on the GRE quant then I don't think anyone will care about your first year of college. Another answer would be to work for 5-7 years in a related field before going back to school. Work experience can help overcome some...

Was it Carter's deregulation of oil prices that got oil consumption down 1978-1981? This led to skyrocketing oil prices (highest until this year in real terms) which did reduce our consumption. That was a pretty tough time I believe.

Speculation causing higher oil prices? The U.S. Commodity Futures Trading Commission (CFTC) has published their interim report on crude oil, which investigates whether speculation is the cause of high oil prices. Not surprisingly, they find that the evidence shows fundamentals (supply and...

Yay. May your dreams be filled with many dancing bananas.

Regarding oil specifically, 40% of our oil goes to passenger vehicles, another ~30% for other transportation needs, according to the EIA (2004). Half of our power production comes from coal, 20% from nuclear, 20% from natural gas. Only 1.2% comes from petroleum. So the oil problem is really...

Indeed, Energy conservation is easier and more beneficial. Plus, since non-renewable energy will not last forever, simply increasing supply is not a lasting option. And if we want it to last longer (maybe while we're figuring out what to replace it with) we will have to conserve. I'd say the...

Here is a decent presentation and discussion on what peak oil means. The Oil Drum | Peak Oil Overview - June 2008 (Pdf and Powerpoint available) Worth the read for those interested in energy. The rest of the site is pretty good too.

The 2-loan setup I mention above is to get around this insurance.

For a condo you can usually get away with a 10% downpayment. The bank will actually issue two loans, one for 10% of the price with a slightly higher interest rate. It's basically like borrowing half of your downpayment. However, this setup might be tough now unless you have great credit. I...

John Jiang and Hanjie Chen propose a generic concept of electricity-backed security, which provides an additional funding method to utilities with poorer credit ratings, and a new asset class to investors.

You will not be given a career chip based on your essay. Just say what you feel, like in your post, but more professionally.

I wrote about energy and environmental risk. But I don't think you're essay has to be about any specific industry. You are allowed to keep your options open. Just don't sound wishy-washy. Don't say 'I think...' or 'maybe I...' You can use your general characteristics to discuss career options...

Let me add that this is not cultural, and not a clash of cultures. There are many fine posters who make common grammatical mistakes and this is okay. This field is very international and we are used to this.

The content of the first post did not get the thread closed or the author banned. The content of his second post did. (Also, the thread wasn't heading in a good direction.)

There are utilities, commercial/industrials, airlines, etc that require quants. These companies are all over the place. One of our clients is a large department store that trades energy to hedge their positions around the world. Utilities can have quite complex models that include commodities...

I'm happy that they have an app called iCall which will let me switch between wifi VOIP and cell calls seamlessly. Reception at my home sucks. New phone has three things I really wanted: 1. Faster, 2. GPS, 3. Better audio (voice I assume).

Any predictions for what a new iPhone will be like? We'll find out today.

Welcome all. JaceKJ, now is a good time to start on brushing up your math skills. Seems like you are probably good on the finance and programming. A year or so of math classes or self-study (and GRE study) should be started asap. Maybe Dan's book is a good start. This 276 page gem is essentially...

Trading-specific math is probably a dumb way to put it. Trading takes lots of forms. If the distinction is between TA and fundamentals, I imagine the TA'ist would use stats, time series analysis, regression, Excel/VBA, SAS, R. This is where I'd start if I were trading. Would I need advanced...

I think it will depend on the type of trading you are doing. TA and FE are different in my mind. You don't need to know stochastic calculus to use the word 'stochastics.' If you plan to use charts and backtesting and other technical analysis, you can focus your studies on trading-specific math...

As with any interview, be honest, be yourself, and don't try to give answers that you think they want to hear. I've done lots of interviews (on the other side) and you can always tell when someone's not telling the whole truth and that usually leads me to dig into that question.

If the schools that you are considering have winter semester admissions, then I don't see any harm in applying now. Clearly you could get the math prof rec for fall 2009 if you take all those classes, which I think would be good to have before starting MFE anyway.

Happy Birthday. Geminis rule!

Francis is being sarcastic right? If you have only taken Calc I then, yes, you need more. But you are young. Maybe you figured out that Quant is what you want to do only recently. Undergraduate college is for discovering more about yourself, being exposed to various life options, blah blah. When...

Do you think you're too old for MFE? Because the age range is probably the same as MBA. Seems like you have a pretty good background for MFE, as long as you do well on the math GRE. Also, nothing wrong with an MBA. I heard there's even an MBA/FE program somewhere...

Less than any (\epsilon>0)

This article from WSJ is the first in three looking back at Bear. Lost Opportunities Haunt Final Days of Bear Stearns - WSJ.com

Yay. Congratulations and enjoy the summer!

Thanks everyone! I'm so lucky to have been part of such a group and to have met such good friends and future bosses.

Monday night Jon Lester pitched a no-hitter for Boston in Boston. This was the 18th no-hitter in Red Sox history and the first no-hitter by a Boston lefty since Mel Parnell did it in 1956. But this is not the amazing part. 20 months ago, Jon lester was diagnosed with anaplastic large cell...

3) Econometric Models & Econometric Forecasts -Pindyck & Rubefeld I enjoyed this one, but since it's the only econometrics book I've read, I can't say how it compares. SAS is used. Genius.

Ok, so, I haven't QuantNet'ed in the past few days. Happy Birthday.

This event is right up my alley. Too bad it's on a workday. Have Fun!

You mean, like, his dad? ;) Baseball has got to be the only sport where someone can start over 2600 games in a row. There's just not that many games played in other sports. Thank goodness 90% of baseball is just standing around. A 56 game hitting streak seems so simple. Just get a hit in...

If you are into baseball and statistics, and you have cable, check out this program: The Science Channel :: TV Listings :: Baseball's Secret Formula

I am not sure which streak is less likely to be broken: Joe Dimaggio's 56 game hitting streak or Cal Ripken Jr's 2632 consecutive games played. I think neither will ever be matched.

HBD. Did you get a Mac this year for your birthday?

I thought I would mention in this thread that if you google 'financial engineering forum' QN comes up first. financial engineering forum - Google Search (right before Wilmott's :) )

Mad TV

Hey, just getting around to posting. Happy birthday Jake.

Uh. I think I speak for the whole over 30 crowd here when I say, no, 29 is not too old to enter an MFE program.

Happy birthday dude. You took us to a whole nutha level.

Hi Akino. I'm sorry, but since I lost that money to Vadim in poker, I cannot buy you that iPhone you wanted. I guess you will have to settle for a happy birthday and a dancing banana. :dance:

You could apply to an MFE program. You could ask around your company for changing roles, even if it takes a pay cut. You could get a recruiter and go on interviews to see what happens. I would start w/ the second. Ask around to find out what types of work quants do in your company. See what it...

I would be very surprised if Hillary and Obama were on the same ticket in November. Very surprised. Think about one thing though. If Hillary is elected, and stays for 8 years, that means our country would have the same two families in the White House for 36 years. 36 years! A substantial...

I wouldn't try to make any excuses for your GPA. Perhaps you can say that it is ranked high in your program if that's true. If there are reasons why your GPA is low (single parent, full time worker, whatever) mention them in your cover letter as part of your background, but not as an excuse...

I don't think this is true. You can apply up to the deadline without bias.

Intrade is a cool site. But they are an Irish corporation and their FAQ says: And this article: Bettors risking millions online to predict election outcome - The Boston Globe States: So I suppose technically it is illegal, but still possible.

These are fantasy futures, so they are not much better than people on chat boards betting based on news and polls. But if real money was involved, I think greed would change things. The futures may even affect the vote. This is of course illegal for a reason.

My personal opinion is that a PhD in Economics would be a big plus. I expect that most traders have a lack of understanding of economics and someone with that understanding could benefit a trading desk a lot. What do quants know about the IS LM curves anyway.

Hey Dominic, with that kind of thinking, you might enjoy this site: http://www.ftpredict.com/ You can trade futures on elections. If real money were involved, I bet this would be the best predictor.

If you live in a state having a primary today (and are registered to vote) remember today is the day to vote. For Democrats, delegates are handed out in proportion to the number of votes the candidate gets (in most states). So your vote actually counts. Republican primaries are mostly...

It's good to be confident (pretty much necessary) and to have goals, but also to keep feet on the ground. Quant is not a get-rich-quick scheme. If it was easy, everyone would do it. The situation you describe is a best case scenario, rare. So, if you start down this path, expect to make...

Being a quant involves long hours, especially if you want the kind where your bonus is multiples of your salary. If you find a job where you only work 40 hours per week and make 500k per year, please hire me.

Yea. I know.

It was a great game. If they weren't playing the patriots, I'd be excited (I kinda like the Giants). Defense won it for NY. Plus, big plays were key--NE not executing them and NY executing them. There were a few possible big plays that did not materialize for NE. But for NY, the most obvious...

I got more character in my little finger....

Losing builds character. Perhaps the Yankees will have lots of character this year.

Mets are no longer a joke after signing Santana. They will dominate the back page this year. Since I'm a Patriots fan, of course I'll be rooting for them. I'm pretty spoiled now with their winning (like a 90's Yankee fan) so I won't be devastated by a loss, but a win would be nice. One more...

I'm afraid to post in sports forums anymore.

MIT Open courseware may be nice. I believe there are also Podcasts for some classes. http://ocw.mit.edu/OcwWeb/web/courses/courses/index.htm#Mathematics

I think if you are able to learn the material, and demonstrate that you are competent in it, then it should be okay. You just need to describe things like this in your letter (IMO only of course).

Today's wacky action in the stocks I'm watching exposed a major hole in my algorithm. Lost money today. Need to fix it.

It's sloppy, but I got strategy #1 coded. I first tried the Excel API because I thought it would be quicker. So far it cost me ~70,000 because it executed the buy part of my strategy, but not the sell. Ugh. Now I'm using Java. I tested my strategy today with the paper acct and it worked so I'll...

A big HBD to you.

I'm going to drive out from Brooklyn (Prospect Park area) in case anyone needs a ride.

bingo. we have a winner.

Ok, someone gave me a couple of bad math jokes that you may have seen before. Q: How does one insult a mathematician? A: Just say: "Your brain is smaller than any \(\epsilon>0\)" Theorem: A cat has nine tails. Proof: No cat has eight tails. Since one cat has one more tail than...

http://www.bloomberg.com/news/marketsmag/ I'm going to try to get someone to talk to the group about energy and emissions trading.

No, but there are some free reports here EIA - Energy Data and Analysis Publications, Reports, Articles, and brochures.

Here is an old (2002), but informative (106 pages) report on energy derivatives and risk management. http://tonto.eia.doe.gov/FTPROOT/service/smg2002-01.pdf The site is good for those interested in the goings-on in energy. Energy Information Administration - EIA - Official Energy Statistics...

When is the Wall Street sequel coming out?

Kinda fell into it. Didn't know what I was getting into ;)

I cannot speak for the admissions committee of any college, nor can anyone here, but I don't see anything in your background that should negatively influence any decision. Nothing wrong with professional poker and many financial engineers come from a physics background. We don't assess...

Do you have a link for this article? Edit: I found it, but it requires a free registration: http://www.technologyreview.com/read_article.aspx?id=19529&ch=infotech&a=f

I think it was one of the best we've had. Greg is a good presenter. I think we should have him back in the spring to see how things have come along.

I don't remember his company's name, but it's in Philly. I just watched "Pursuit of Happiness" the other day and when he asks "What do you do and how do I do it?" the broker replies "You have to be good at math and good with people." Traders are a special breed.

To become a trader, you do not need a degree. You need to get into the training program of a company. A friend of mine went from being a software tester to trader in 2 years after getting into a company that provided 6-months trading training. He has no advanced degree.

My trip to Munich was cancelled, so of course I'll be there.

Red Sox are the American League Champions.

Happy birthday Bob (a tad late). I haven't been to Grand Saloon in a long time.

Bob, seems the NE-DAL odds may not match the payoff. Opportunity?