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Is this large british bank a bulge? I.e Barcalys? If not, go with the hedge fund.

I note to the jury who used the word or even concept of superiority :) And can you explain "And please....saying that jewish people were "oppressed longer and more severely than Africans" is just mind boggling...."? Ever since the roman empire we've been persecuted, used as scapegoats for god...

The University Of Maryland (MFin) has a graduate and undergraduate student-run fund.

Very fair points.

Agreed. I think a great case in point is the world Jewish population. We've actually been oppressed longer and more severely than, say, the African or Hispanic population, yet even in countries where Hispanics or Africans are the majority, Jews typically find themselves in the upper...

We shouldn't sacrifice correctness for politically correctness.

No they shouldn't. It's a perfectly reasonable argument... our genes our different. Why shouldn't average intelligence be different?

^This is correct.

From the article: No it's not. AP exams are a joke. I have already taken 10, got all 5's on them easily, and still have a-mores to go this year. I am not alone... you only need like 60-70% for pete's sake! Get a clue, people!

I was in a magnet middle school, got accepted into a magnet high school (but declined and went to one of the "top" public high schools in the country... we're talking Blue-Ribbon.) I've taken AP Calc Freshman Year, and 9 others my first three years of high school alone. 3 college classes...

As a current student, I have to admit it sucks bull's testicles.

Sovetski Soyuz ;)

lol so basically you hate .NET =)

Again, in 3.5, this could be achieved as follows: Changing the default limit of 25 threads of Thread

Well, I suspect it is higher because of this sentence: Since it's beginning with .NET 4.0, something must of changed... probably for the better :P Either way, one could and still can override this manual limit.

First two, but are you sure you can take them without Investments as a prerequisite?

Changing the default limit of 25 threads of Thread LOL What original limit ;) Anyway... for .NET 4.0: The Managed Thread Pool Not so clear what the default is, but I suspect it's higher.

Multithreading tools :)

Gentlemen.....................

What language are you using?

Merry Christmas, and a Happy New Year to you all!

They don't use the mathematical model of log-utility, but they do use common sense and are (at least somewhat) risk-averse.... that's what I'm getting at.

I was illustrating a point... this is a Trading interview. You must absolutely talk about risk-aversion. It's too simple a concept to not mention it.

Again, in the first part of my reply (everything _before "EDIT"), I interpreted the question the way it was asked... how much should I pay to play this game, the game being the employer get 100$ for heads. Note that the employer pays _before_ the game... he is paying for the right to play...

@AlexandreH Let me refresh your memory with the question itself ;) There's no way that the employer will pay more than £100... that's a certain (think 100%) loss for them all the time, lol! EDIT: I see what you are writing, and even under your interpretation (that is, employer:"how much do I...

@tylor This isn't adequate enough. Suppose instead of 100 dollars, the interviewer offered to double your net worth if you win or take you all your money if you lose. According to your logic, that is fair. However, no person would take that - a) because they're risk averse and b) the marginal...

@Ezra: If we use the X^(1/X) approach, that would suggest the answer is 2 though, always. Can you please elaborate on your claim that at high t 3 is better? I am quite sure you are wrong...

That's probably ok then.

wait a sec That's a weighted? What's your unweighted... too many B's and you screwed your chance for some of the top schools...

Stick with Diff Eq. You should be fine, don't put of your application essays though, you'll regret it. Good luck :P

Head explodes. Should I be more embarrassed of myself for failing to find this... or... of my country, for this sort of thing:

Great, you get 50% + on a relatively easy exam. Selective colleges don't care :) (In fact, if your 4's are in important quantitative subjects, they may downright frown upon them.) Good! Definitely a plus at some schools. Yeah yeah, generic service/leadership. means nothing I'm afraid, unless...

CMU and UMich will give you the opportunity to explore Math, Computer Science, Finance, AND Computational Finance at the undergrad level... Now the question is, what are your stats?

Ezra, I think your streams are wrong since you are not compounding...? I.e it should be Money Stream 1 2 3 6 9 18 27 54 For 2x, assets are in the form of 3^(t/2). For 3x it is similar Money Stream 1 3 4 12 16...

I might be completely dumb, but that would never happen. After 6 years, set that year to zero. If the starting sums were even equal, then 2 would overcome, correct? However, the starting sum for 2 is even higher, so 2x is consistently higher. Does that make sense?

@Stuart To compare 2 and 3, just take the ending amount of money after 6 years.

This place makes me LOL: http://thedailywtf.com/Articles/Comments-from-a-Madman.aspx There are many great posts though, all found on CodeSOD - The Daily WTF

For two, do you just mention that your utility function is offset by volatility/risk? (So a minimum rather greater than 50 [75 for part two] but less than 100 - example: 66 and 90)? Also, how much time do you essentially get per question, and is it all in your head (e.g number 3)?

@aix Thanks! You're brilliant :O (Nice first post too ;) ) @Byron I couldn't :/ It's just not online. LOL

Hahahahahahahahahaahahaha Apparently, Lincoln's assassination was the first assassination in the United States.

It's been on the back of my mind today, can't think of anything :S

@Andy Yeah, I was thinking it could be 1) Sum of digits 2) Modulo 3) Different bases?? (EDIT as of 12/16... I called it :P. J/k. Well done aix!) @Fred ah... so number of factors, I see. Still, it's not the supplied answer. :\ It has to be something more elegant, because otherwise you could...

Also, your 246 gets you 2*3*7 according to your rule, which is 42. Anybody else :$

That's not the answer though #-o (highlight the first post for the answer...)

"When 13 is inputted into a certain formula, the result is 7. Under the same formula, 2352 yields 16, 246 yields 14, 700 yields 16, and 1030 yields 14. If 9304 is inputted, what would be the result? " Highlight for answer: ------------------------------------- 19...

When you're on Wall Street, you feel... LIKE A BAUS. Even if you're in Operations, which actually really ticks me off...

That's actually pretty good mastery for a foreigner...!

I LOL'ed http://www.columbiaspectator.com/slideshow/2010/12/08/police-search-photos-tuesdays-drug-bust?slide=8

I think that if you want to be a Quant, nobody is going to turn down a PhD in engineering...

Also "it is trivial that" XD

Well, Elements is a book of proofs, and "it follows" is mentioned in proofs and... :S well ya' know...!

^Haha... good pun there.

Wait, isn't that what professional traders do...?

Suppose the shares you were trading suddenly shot up, so that if you hadn't cut your losses, you would have gained 10 million? What then? How would you explain yourself?

=Fixed the link, sorry=

Don't kid yourself - it's going to be a rough ride. It's just that it's not downright impossible to land a coveted finance job.

http://en.wikisource.org/wiki/The_Mathematical_Principles_of_Natural_Philosophy_(1729) Principia Mathematica (by Newton)... good times....

@ABrown... have you done the Google test? That's the best DB they've got...

Sorry pal, Alexander was right - Russian Jews are the 1337 ones. XD However, to get back on topic, the test also doesn't control for downright apathy. U.S students feel no pride when taking the test, unlike students from say, South Korea, who experience an entire rally to prep them for the...

True story brah 8-) We trump everyone at everything. =P To quote good ol' Wiki: Wiki even has a seperate article... http://en.wikipedia.org/wiki/Ashkenazi_intelligence LOL

There are a shitload of grammar mistakes... that wasn't a problem, considering it was a cover-letter? This is I-banking...

Sure... for TEVA. But I literally picked out a stock out of a blue... I just tried to find one with a price that was near some strike (that is, that had a whole number price divisible by 5) If you wait for some more popular stock to hit such a price, such a strategy could be used.

That's a good point, I suppose; I just saw this practice used in another options-related case study, and I followed suit. But your point is absolutely correct. I don't think it will eat half like you stated... although you may be right - anyone have any data on what the pros at the big firms...

Come on, nobody?

But the average person can't go to an elite university (generally)... so it's a catch 22...

Has anybody actually done this? It is easy enough to do: Essentially, you buy the actual stock and short the synthetic stock. Specifically, buy the stock, and then go short a call with strike price equal to the stock price, then go long put with strike price qual to the stock price, and...

I swear this site posts the same articles on college confidential... =P

With one fell swoop, Andy nearly doubles the net shadiness of quantnet.com

I LOL'ed.

The best deals are after Christmas and before new year's, I think.

Is your LinkedIn pic recent? You look sad. :(

Hence "unless you're running a very elaborate scheme" ;)

@Anthony... unless you're running a very elaborate scheme, your profile pic does give you away (despite your name being common) :)

Also known as a modern libertarian, methinks. I approve.

Does that include the Janitors?

"So... when can I expect to hear back from you?" xD

He's back home at 7:15, and yet he goes to sleep at 12 and complains???

It's always 50%. Don't you just love the Efficient Market Hypothesis?

Anyone know any of the smaller, newer ones :S

probably B... especially if "didn't excel" was a euphemism...

Luckily, my friend at Wharton is more obliging.

I guess not....

I don't get it :S

I am 99% sure that it does... but regardless... back to my original question... anyone have a list?

Lol that's probably not happening... (EDIT: by the way, is FBR off limits too? Just kidding.) But if there's a start-up or something, I might shoot them a call asking them if they're willing to take on at least an unpaid intern :)

Anyone have access to a list of Hedge Funds in the DC area...

Sigh... well I guess that's no advice :( I'll keep you folks posted in case I meet Gordon Gecko or someone.

Surely someone here must have some advice :)

If I wanted to not bald at 22, I would of asked what are some fun things to do during the summer. But I want to persue wealth management.

Hmmm... anyone know anything about the Morgan Stanley Future Leaders High School Internship Program?

I was thinking about this too... but the problem is I'm at Smith Barney. I suppose I could ask my boss, but I can't imagine any direct leads :S At best, it would look good on my resume that I want to stick with the company, and it may slightly help in an interview... but really it isn't much. :/...

A clarificication - I don't necessarily want a quant internship... my long term goal is asset managment.

Any ideas, someone? :)

Hey guys! I'm already starting to think about my next summer internship... So for those of you who don't remember me, I'm currently a senior in high school. I was an intern developer last summer for a commodity information firm, and now am an intern (ugh... Operations :/ ) at Morgan Stanley...

I can understand that money isn't the motivating factor in consulting... but you don't go to an IB for something other than the money... that's just BS.

WOW. JUST WOW. I'm a high school student... and I find that fucked up... Now I really appreciate US "crappy" education... haha. And if I say, no Dominic, you're not an old git, you're young handsome, and not a git, does that give me a boost in future networking ability xD Genius. ^^^

Definitely doing this :D In fact, my friend was on the team that won first prize last year. :)

Lol when I first saw the thread title, I was getting ready to poke fun of the misspelling by asking about the Queue exchange. But it turns out that it's a real thing :P

I would imagine the CFE is the Certificiate of Financial Engineering...

You're going to have rephrase your question. If what you're asking is, can I get by without calculus for the mathematics used in quantitative finance, the answer is no.

That video is olllllllllllld saw that a while ago ;)

Didn't notice Sorry :D

So how much money did they make...

But arbitttttrrraagggggeee.... :(

Hahahahahahahaha: To be fair, this figure probably drastically changes with quotes... ;)

Alexei, random walk doesn't necessarily imply 50-50 odds, I would go with int result = rolldie(); if(result>2) buy(); else sell();

Wow... that really is shocking...

Is this really true with the CMU program? Because they have 100% placement with very respectable salaries... To be fair there's isn't a BFE, it's a BSCF

A) Do not double post B) Go to the actuary forums. This is the wrong forum to ask these questions.

lol It just goes to show that the verbal section doesn't matter ;)

In russian, how did you do on the exam is translated as "how did you write the exam," so I understand (I am Russian). I just wanted to clarify for any future responder. :)

Btw, I think you mean take the exam ;-) If you wrote the exam, then you'd be the one creating it xD

Go for Stochastic Calculus for Finance by Shreve... it's the premier book.

Why couldn't they use that money to decrease tuition :[

Employment Reports - Career Development Office Oh, the powers of using Google. Edit... hm this is the MBA and not MFin, huh.

while(title.isMisleading()) throw new ThreadIgnoredException("PUT THIS IS IN THE MASTER THREAD!");

Well, Cal3 is for sure useful. You can't get by with just the first year of calculus. Good point though, koupparis.

Vector calculus, also known as mutli-variable calculus... is EXTREMELY useful for "quant" mathematics... it is basically the backbone of much of the higher math that you will take later on...

To add to that question, what do you guys think about the undergraduate Computational Finance degree at CMU?

Nice little text, thanks.

Didn't you hear him? It just doesn't come with a lunch :P

As a current intern at Morgan Stanley Smith Barney... Interesting.

With no strings attached? This is arbitrage at its finest! Sign me up! :P

Hahahahahahaha...

Yes, Khan Academy is an excellent resource! I discovered this a couple of months ago, myself :)

@Joy Was it bad compared to the first one, or just plain bad? And why?

You don't have time to Google some simple statistics? Wow.

Sorry, million dollar paychecks aren't gonna come as easy as that =(

I looked at it's rotten tomatoes score; of course it is lower than the first one, but it is still respectable for a sequel. I'm not sure I'll be watching this in theaters though.

Hey Andy, speaking of the ranking... any clue as to when the new ranking will come out? :D

That's not what he said...

The reason that it hasn't happened yet is that although India is in some aspects a first world country, it is still predominantly third world. In many places it is still dirty (no roads/hot water/sanitation!) and poor.

Haha this is true!

Wall Street Executive Anonymous.

Yes, I thought it was factorial, I was just making sure ;) In fact, that problem can be generalized to any number of consecutive terms.

Do you mean 4 or 24?

I believe he is venturing guesses for the first four questions.

Unfortunately, Towson has neither the rankings nor location nor network for significant career opportunities. And I'm a Maryland resident and know quite a few people that went/go to Towson.

Not only are your "formulas" very primitive, your resume... is disappointing. I mean, Towson was not your best choice for any finance-career. Good luck, but please be realistic.

Hey, is there really any reason you want to do quant finance, as opposed to another form of finance? I think legal knowledge would be useful in other scenarios; M&A comes to mind. That said, I'm a noob.

Quote - me: I win. Well, so does the professor ;)

We are under the assumption that we are geniuses?

8 years of study? And that's not counting the phD research??? Why?

If you say you know C++, they'll ask you relevant questions during the interview.

I'm just a student but from what I understand, PDE and the stat courses (Probability Theory, Stochastic Models) look pretty good. And definitely self study c++.

Not to mention that I don't see the issue with N=1. I think you're confusing future and present. If we know something went up 3%, that has nothing to do with probability. Anyone else have opinions on this?

Because that promotes free speech. And makes me look cool.

Alternatively, we could set up the base case at N=2 by definition, because N=1 implies a chart with only one price.

Mathematical induction - Wikipedia, the free encyclopedia I know full well what Induction is. I do not make any recursive calls to my proof...! Please read my proof carefully. If we are only considering two securities, then the maximum my proof allows is charts of one time-step - a chart all...

First of all, that is a simple iteration, not induction. Suppose I say, take this set {1,2,3,4,5,6} Take the first element of this set. Multiply it by 2. Say it out loud and do that many hops. Now repeat this with each element in the set. That is not induction.... Second of all, it is not...

Ahhh! I didn't make myself clear. Each of the original N+1 securities.

My proof does not make use of induction... O.o And you understand that I am trying to disprove charting, right? EDIT: I disagree. When you're taking N objects out of N+1 objects, it means you're taking N objects... No induction here. But I digress. What does my proof say if we are only looking...

This is a proof by contradiction... I'm not sure what you mean. Can you please elaborate? EDIT : Thanks for your elaboration. What I am saying, is that if such a function (that returned the probability of rising based on a time series) existed, it would return a constant value; this essentially...

This is a good point - you are always free to leave.

Every security in a group of n+1 securities can have n of its timesteps represented by a combination of securities. I don't see how what you claim follows... Edit: hmmm... let me think about that! Good point. Edit 2: I believe cancellation to a redundancy (i.e 0=0) occurs. ---------- Post...

I believe that it should also be aP(S1)+bP(S2)+c(S3) = P(S4) but I have a feeling I didn't denote P() correctly ;-) I think it is a relatively minor fix though, if someone could help me out :P Thanks Miket, and PS: yes, I suppose the proper notation is time series (again, I'm a high school noob...

lol the first part is probably true. It's just that people actually took the time to download the file, and therefore (presumably) read it over... This is why it is surprising that nobody commented. Besides, this proof attempts to disprove technical analysis... Elitetrader.com would not be a...

Can somebody please offer their opinion?

Word is inconvenient? Why didn't you say so? The existence of valid charting would suggest the following: there is some function P that takes in the chart of a security as a parameter and returns the probability that its price will increase in the next time-step. Charts themselves can be...

Haha, no, there are no arbitrage ideas :( Two views, but only one comment... and even that one was said in jest. Come on guys, if it's fatally erroneous, tell me! ------------------------------------------------------------------------------------------------------- 9 Views and still nothing :[

Hey guys, what do you think of this primitive proof that charting (technical analysis) could not be mathematically consistent? It's not particularly rigorous and I'm sure there's some errors, but is the idea worth looking into? I kind of glossed over some details, tell me if you need any...

Interest is one thing, but you have an unhealthy fascination with it. It's one thing to look quietly and process your thoughts, its another to encourage the spread of doomsday theories. The only thing we have to fear is fear itself.

Um...JD I think you are confusing something... the US is great friends with Mexico and the Soviet Union collapsed a little under two decades ago. Nevertheless, Wolf, while I'm sure history repeats itself, I can't imagine not having at least a half century of American "Dominance" left before...

This is getting inane. Not only is nobody here going to change his opinion, the same facts (or at least genre of facts) are being reused.

Hahaha... oh the morals in this story.

In addition, even though this is not Rutgers related, an someone comment on the NCSU Applied Mathematics BS and Masters of Financial Math 5-year program? Are there any other similar programs?

Yes, but since quantitative finance rankings are so rare, I decided to post this.

What is the quality of the Accelerated Mathematical Finance Master's Degree Planning for Rutgers Undergraduate Students program? Can anyone elaborate on the cost? Do you end up saving money or paying more? Thank you very much.

Another ranking - The Top 10 Quant Schools, According to the Street by Advanced Trading

This is 60k a year untaxed, or probably around 90k a year before taxes. Add the 15k they are already making... WOAH THAT'S OVER 100k! And for seniors, even more.

As I've said before... those poor that are "only" subsisting on food stamps, medicaid, etc. are often getting QUITE a lot.

There a magnitude of differences between the U.S and the Soviet union (I can say this as a Russian.) For one, it has a larger presence over the world, whereas Russian presence was for the most part militaristic and relatively confined to Eastern Europe. Second of all, the Soviet economy was...

Interesting stuff, there, Woody.

This is an old-ish article, but still relevant. What are your thoughts? They Tried to Outsmart Wall Street - NYTimes.com

May I see a source for this? In addition, what measure are you using? GDP? Do you think that's such a good idea - considering that China has 4 times the population of the USA?

I agree with the premise that at some point the American Century will end, but to say it has ended already is probably inaccurate. We are too big of an economic/political influence on other countries for now.

List of countries by GDP (PPP) per capita - Wikipedia, the free encyclopedia That is all. Edit, well for good measure: China Might Rank Second by GDP, But Ranks 99 for Per-Capita GDP -- Seeking Alpha And for anyone who might rebut: well what about the poor? I discussed that in my post in the...

Anthony, you forgot to say please. Dr. Phil.com - Advice - How to Spot and Deal with Passive-Aggressives :P

@BigBadWolf I have an elderly Eastern European grandmother who is currently living in Boston. Did you know that medicaid pays for what are known as "daycares" for seniors? What do you think comes included in them? 1) Theatre (about 50$) tickets, every week. 2) Food. Everyday. On holidays, they...

The issue is, poverty is relative. The lifestyle of today's poor is actually quite good in comparison to the middle classes of 100, and especially 200, years ago. It's simply that they do not live like the rich that it is considered "abject poverty."

Jesus... christ...

Ok, can you please explain the various courses they will be taking? If you could, use an engineering student as an example. Thanks :)

Is this really true? I would think that it is the other way around... And by the way I am well aware of Bayes' theorem :| But what I am trying to say is... is this sample schedule actually shallow? I understand it can be made "more deep" but when it comes down to it, I am taking the same, if...

It's not that I am solely persuing a business major - I am taking quant classes. As for the notion that even taking business classes will short-change me for an MFE - http://tepper.cmu.edu/master-in-computational-finance/your-career/recruiting-partners/download.aspx?id=6263 (page 6) says that...

Can you suggest some of these other prospective careers please? And sorry, really, I didn't mean to irritate anyone or give of the impression that I was "arguing for the sake of arguing." I was arguing for the sake of figuring out what my plan is =)

That may not be possible due to finances :( No pun intended, unfortunately. Also, I'm never taking 10 business courses a semester :| The most I ever take is four in my schedule; Fall Semester Senior Year. However, the majority of those courses certainly aren't fluff, particularly the fund...

But what if... I'm taking finance for fun? :| If you remove my finance courses, I'm taking at least the average number of credits anyways. Rebuttals please :) And if fluff really is fluff, it shouldn't really take time away from my other courses.

I think we're confusing cause and effect here. It's not that business degrees make you dumb, it's that generally less "intelligent" (although many have skills, such as communication, that makes then "intelligent" in their own right...) people take business. If I take a combination degree I...

I like the fact that the job of a quant mixes the hard science of mathematics and programing (as well as taking concepts from physics, etc) with the soft (dare I say it?) science of finance. To this date I know of no other career that can do this. Interestingly enough, CMU's MCF website...

By "avoiding as much business fluff as you can" - you also mean to cut the finance major entirely?

While this is true, it is likelier that people who would want to do business (i.e more extroverted individuals) are not as intelligent on average as the generally more "geeky" (call it passionate if you will ;) ) math majors. And while abstract algebra gives you a different take on things...

But not all of those classes are directly useful... or am I incorrect? They simply give me a broader mathematical background. Somebody correct me if I'm wrong. The thing is, finance and a little bit of a social life (taking a filled-to-the-brim schedule of upper level mathematics courses...

I speak English of course, but I am fluent in Russian; it is actually my native language. I also took some Spanish in school and did sort-of mention it... but I'm far from being truly fluent in Spanish :P As for computer skills, they consist of: software application skills (Excel is the really...

On my interview for next year's internship with Morgan Stanley Smith Barney, my interviewer noted: 1) My Computer Skills 2) My Language Skills 3) My Previous Work Experience He really didn't care about my test scores/classes, etc. While good grades in high school subjects are important, you...

This isn't set in stone - the idea is that I could see what kind of courses I would be able to take in order to compare colleges. I actually kind of liked this schedule and decided to ask quantnet about it. :P

I suppose that's true. I'd like to point out that I'm already taking these classes 3) MATH414 - Ordinary Differential Equations 4) AMSC466 - Introduction to Numerical Analysis In different form (different name, but same credit; for example, AMSC466 is the same as the CMCS course.) But I suppose...

Again, can someone please explain their definition of a "upper level class"? Is a 4__ level class not upper-level!?!?!

Nope, they do not offer a minor. And you need to be a finance major to do the Senbet fund... Still, I feel as if I am taking some upper level courses... :| I mean undergrad students only have access to courses up to level 4__... although I understand your jack-of-all-trades point, how am I not...

Also Connor, can you explain why you chose those courses? I mean, I like image processing as much as the next guy but...

Maryland has a nasty policy of not letting you take too many advanced courses outside your major. On top of that, I do not get acess to the lemma senbet fund, which sounds VERY nteresting to me. Some of the courses listed share the same credit with a course I am taking; e.g BMGT 444 cannot be...