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  1. Large Number of International Students in MFE Programs

    If you speak perfect English and have quant skills, you don't need to do an FE to get into the top places. That's the main reason you don't find American students with "ability" doing FE.
  2. Course Requirements for MFE and Mfin

    Definitely not "over-qualified" in the math department but sufficient. You definitely need an options class as well as like Ross said, programming classes. I haven't met many quants that were straight out of undergraduate but they do exist. However, top quality shops tend not to hire a quant...
  3. MSF vs MFE

    Never did you mention anything about any relevant experience in your previous post AND I can find four people with no relevant experience who are now quant researchers who just graduated this December. Dude, don't bluff against pocket aces when I know you have 2 7. And for @New Trader , I think...
  4. MSF vs MFE

    I am unsure where you get your data from, but it is by no means accurate at all. While true that it is unconventional for an MFE student from ANY school not just Baruch to go into IBD etc, there are a few Baruch graduates who work in IBD. One or two quant research/strats modeling is really...
  5. Baruch Finance Pre-req Strictness

    do you know what a put and call is?
  6. Asking for PhD Financial Engineering? need consultancy

    that's even less than the bare minimum, stochastic processes is almost always required.
  7. MFE after BBA in Finance?

    I am sure if you had statistics on MFE students to post their SAT math score, I would say 95% got at least 780 and the 4.99999% got at least 750.
  8. MFE after BBA in Finance?

    This is not meant to be derogatory in anyway, I would say most MFE majors got a score close to 800 if not 800 on their SAT math (at least 760).
  9. Actuary vs Financial Engineering

    I don't think any of that line was true except for the more stable.
  10. Quantitative Interview questions and answers

    sorry, i made a mistake. the markov chain was incorrect. X_0 = 9/11 which is .818181. I fixed the equations below and you can just solve it and show it is true. logic is still correct X_0 = .25 * X_1 + .25*X_0 + .5 * X_3 X_1 = .5 X_2 + .25 X_3 + .25 X_0 X_2 = 0 X_3 = 1
  11. Quantitative Interview questions and answers

    your reasoning isn't correct Look at the problem as a markov chain problem. let X_i denote the probability player A wins from state i and X_0 is the starting state where neither player has flipped a head yet, X_1 is the state where player B's previous flip was a head and player A has not...
  12. Actuarial Exams for MFE Applications

    no they don't. passing the first two is equivalent to taking the first class in probability. pass the next two and you are at the pre-mfe level
  13. What does a graduate with MFE degree do if he gets the position of asset manager?

    I used to work at the hedge fund arm of state street. They used many quantitative techniques including statistical arbitrage trading and signal processing (mostly automated). There are definitely jobs in this field.
  14. What does a graduate with MFE degree do if he gets the position of asset manager?

    an asset manager at a non commercial bank has a view on the economy and trades on this.
  15. K-means clustering

    http://stat.ethz.ch/R-manual/R-devel/library/stats/html/kmeans.html
  16. Help with Jane Street Interview Question

    it cannot. area 1.2071 is not the solution such that the dimensions are fixed but rather it is the solution such that given the area of the squares will be 1, if I have a rectangle where I can manipulate the dimensions but keep the area fixed, 1.2071 is the minimum area needed such that I can...
  17. Help with Jane Street Interview Question

    this is totally irrelevant, but i do not believe that is a picture of you but (y)
  18. Help with Jane Street Interview Question

    http://www.wolframalpha.com/input/?i=maximize+sqrt(x)+*+(+sqrt(x)+%2b+sqrt(1-x))
  19. Help with Jane Street Interview Question

    no proof required, the minimum area is 1. for the case of non equal rectangles, the answer STILL doesn't change from the fact that the minimum rectangle to put both of them inside, is still the two squares next to each other. therefore the answer is sqrt(Area 1st rectangle) * (sqrt(Area 1st) +...
  20. Pricing an option with payoff at-the-money?

    don't need MC to price this, there are market prices. can just sell all out of the money puts until at the money, and sell all out of the money calls until at the money. the following paper by peter carr shows how you can replicate any twice differentiable payoff...
  21. Pricing an option with payoff at-the-money?

    this is just a short straddle...
  22. Starting salaries for Quant related roles

    by that chart ... it seems like years of experience is negatively correlated with salary.... big sample bias it seems
  23. Trading Versus A Teen Market

    I was just hoping you said you would buy BBRY as an indicator I should buy it ...
  24. Trading Versus A Teen Market

    "the market can stay wrong longer than you can stay solvent." Would you buy BBRY after tanking 25%+ today?
  25. Boston MSMFT BU Employment Report

    of the employers, I only see one investment bank (RBS).
  26. Sponser in US For Quants

    depends entirely on you. look on the website. there are answers everywhere. every program is different. if you attend cmu etc, you will likely find a job.
  27. Artificial intelligence?

    don't listen to him. artificial intelligence is awesome.
  28. Asking for PhD Financial Engineering? need consultancy

    What FE program accepts a student in with only 5 or 6 modules in math ?
  29. Explosion rumor

    ... This had nothing to do with algos. These are retail customer's stop orders getting triggered. It has absolutely nothing to do with HFT. You are talking about many things here. If you are against rebate trading, you are against providing liquidity which is good for customers. If you or your...
  30. Explosion rumor

    That still doesn't prove your point that humans could not have triggered the massive drop in liquidity. And this is the first time I saw someone in finance complaining that they cannot compete. Doesn't sound like people in finance to me. Sounds like their occupations has unions....
  31. Cross-currency exchange arbitrage opportunities

    if he answers that question, he would be out of a job no? in all seriousness, there are no arb opportunities... seems like he makes money off of delta from what he thinks is an overreaction.
  32. The beginning of the end of HFT?

    Just curious, but why are you against HFT?
  33. Explosion rumor

    The move was literally in minutes level. Don't have to be that fast.
  34. Looking for scholarly source about security return predictability...

    You can run a simple garch model on empirical data and show that it there is indeed positive autocorrelation in squared and absolute returns.
  35. Looking for scholarly source about security return predictability...

    "The decay of autocorrelations of squared returns is exponential in a one-factor stochastic volatility model. Adding another factor makes the decay look more like the power law that we observe in return data." http://faculty.baruch.cuny.edu/jgatheral/VolDerivatives2007.pdf
  36. COMPARE Columbia MSOR VS University of Michigan Ann Arbor MFE

    Columbia MSOR students mostly cannot find jobs and you can ask most graduates. You are competing against Columbia MFE, MAFN and among MSOR. Easily over 300 students and MSOR students are viewed as being at the bottom of the three. It is true that Columbia still has brand name and what you make...
  37. COMPARE Columbia MSOR VS University of Michigan Ann Arbor MFE

    I know a person out of MSOR making $13 an hour doing database cleaning.
  38. HFT's good or bad?

    "you are too simple, sometimes naive." do not misunderestimate yourself
  39. Delta-Gamma Approximation

    Delta gamma approximation is kind of risky for something like this. 50 points is a 3% + move so the approximation will indeed be off. Another reason is also probably of third derivative with respect to spot. Third derivative causes a lot of errors for something that is around 40 delta and for...
  40. Delta-Gamma Approximation

    $25.60 + (-50)*(-0.396) + 0.5*0.069*(50^2) = $131.65
  41. What's considered to be a good profile to get into top quant program?

    what kind of math did you study? where did you attend school? and mfe might not be the best choice if you want to become a trader (in the pure trading role sense unless you want to do algo or options trading).
  42. 7.7 Jane Street Capital Second Round Interview

    Want to play the game? :). I will pay 74
  43. Post Dodd-Frank, why do you want to be a Sell-Side Trader ?

    you are also forgetting market making. market making is still allowed and banks have many traders that are quite good at it. in particular, barclays, goldman and merrill
  44. Chasing the Flush

    I would call for the turn. If I get an open ended straight draw, I would consider calling again if the other person raises. Heart/Q, play it hard.
  45. Chasing the Flush

    you cannot say it is 38 others random... you only know 5 cards, therefore 47 cards are random. just memorize the following rule, 2 * the number of outs * the number of cards left to flop in your case, ~36% hitting your flush. the entire game is an expected value game. if you have a 36%...
  46. Risk Neutral Measure Question

    \((S_T - K)^+\), is the expected value of the option under any model of the underlying where as Black-Scholes assumes log-normal, constant volatility etc
  47. The End of Wall Street As They Knew It

    "What goes up must come down, but what goes down may not necessarily come up."
  48. Laptop Thread 2012

    some people use GPU programming so that is a big problem if their GPU is incompatible with linux
  49. Do you want to learn Stat Arb/Quant Trading?

    Just my 2 cents, I took Professor Liew's stat arb class at Baruch and I found it very interesting and helpful. I learned a lot about stat arb trading and my group actually met with PDT (it was amazing). One of the great soft skills that you learn from the class is that communication and...
  50. Google's Olympic Homepage

    this was literally my first try today!
  51. Google's Olympic Homepage

    11.7...
  52. Quantnet NYC Roommate List

    I would just like to bump this.
  53. OS and enrolment date for C++ course

    emacs is an editor that programmers use instead of using an IDE (i.e. eclipse, visual studio etc). After writing the program using an editor, you can compile your cpp code by writing a makefile and using terminal and g++
  54. Best algotrading school

    I stand corrected :)
  55. Best algotrading school

    I think that you will find the Baruch program extremely well suited for your taste. Domini mentioned that he doesn't believe any program even provide half of that list but I am here to tell you that Baruch really teaches you 6/11 ( more than half ) of that list :). One of the great values of the...
  56. What course should I take to become a good trader?

    to be honest, you should become really good at programming and i mean really good. there are some firms who require their trader to know gpu programming and some really really good shops even fpga. if you are looking to enter entry level, most firms don't actually want you know anything...
  57. Where will an MFE degree land me?

    you can really do anything ... MFE land jobs in many places... just what specifically do you want to do? range of MFE pay can range anywhere from 70k-250k right out of school
  58. Math Prerequisites

    remember that it is even competitive to take the pre-mfe courses at baruch I heard.. i never took any myself... but you should ask around
  59. Deleted

  60. CMU MSCF 2012 CMU Admissions Thread

    I disagree... I think both Columbia and CMU will be quite lenient with their policy. You can probably use the fact that you got into Columbia as leverage of getting into CMU. Remember that this is a business and that both CMU and Columbia want you to be a student if you are good enough.
  61. Rotman International Trading Competition 2012

    congratulations fredric! sorry we didn't meet at the competition but hope to see you guys next year!
  62. Black Friday wishlist

    got a samsung 40" tv from chase rewards store for 371 shipped and tax included :) http://www.bestbuy.com/site/Samsung+-+40%22+Class+/+LED+/+1080p+/+120Hz+/+Smart+HDTV/2126339.p?id=1218310409225&skuId=2126339&st=samsung%2040%22%20tv%20led&cp=1&lp=1
  63. "MFE program profile evaluation" master thread

    I got a 420 verbal 800 q but they said it is fine since I am an american born
  64. 2009 Quantnet Ranking of Financial Engineering (MFE), Quantitative Finance Programs

    Actually, most of our grad students are ivy leagues/top universities in their country. i.e. TsingHua University, Beijing U, Harvard, Cornell, USC, Columbia, UofT austin, U Mich, Lomonosov Moscow State University etc
  65. 2009 Quantnet Ranking of Financial Engineering (MFE), Quantitative Finance Programs

    This still doesn't answer the question. There doesn't seem to be a difference in wage at all. Which I believe was the whole basis of your argument. In fact, if what you said is true saying that many people received 200k+, this would imply that Berkeley has fat left tails and I mean REALLY fat...
  66. 2009 Quantnet Ranking of Financial Engineering (MFE), Quantitative Finance Programs

    From Berkely Website. What makes you guys so different? ALL - Average Bonus Average First Year Total Compensation: $155,975 Median First Year Total Compensation: $144,000 Average First Year Base Salary: $101,125 Median First Year Base Salary: $100,000 Average Sign-in & Relocation: $22,876...
  67. "MFE program profile evaluation" master thread

    I actually was an actuarial science major before I was accepted to baruch MFE and you seem to have a much stronger profile than I did. For MFE, you need to know some stochastic calculus so I am guessing you know at least a little and also you need a lot of poisson processes for MLC and a lot of...
  68. Help with Course selection...

    According to a lot of my friends, that class is very simple. Oh. Then good luck at Baruch! I am currently an MFE student at Baruch right now and we can meet up at Baruch if you would like.
  69. Help with Course selection...

    Hi Anthony. I myself am a baruch undergrad and I was an actuarial science and econ major. Funny we never crossed paths. However, knowing the baruch curriculum, you definitely need more programming. Advanced calc I isn't that rigorous so I suggest you take it at a more technical school like city...
  70. London riots

    But I don't think you understand the level of commitment (at least Chinese parents) put in raising a child. Literally, they will force you to study and learn while others are playing sports. Totally different from any other parenting culture. Chinese parents will never spend any money for...
  71. S&P Downgrade Effects

    Not like the fact that US is sinking is new news to anyone. When I believe S&P downgraded GE, Berkshire (and I think like 60 other companies) etc rating from AAA to AA, their yield actually went down afterwards signaling markets were ahead of the rating agencies in lowering the companies...
  72. "MFE program profile evaluation" master thread

    School you came from doesn't really matter. Learn financial mathematics and I guess the basis of deriving black scholes as this is important and know more probability. You seem to know everything else pretty well.
  73. "MFE program profile evaluation" master thread

    It looks like you have covered just about everything. You seem like a strong candidate and good luck!
  74. "MFE program profile evaluation" master thread

    Seems like you fulfill all of the minimal requirements but you want to outshine everyone else to get in. It is a better idea to take a class like stochastic processes instead of econometrics/forecasting in my opinion. Also, I would recommend you learn C ++ as that is the language of choice for...
  75. Do the quantitative finance courses prepare one for the Actuarial exams in the investment track?

    Exactly... and you must be getting it while your in school and they require you have this and that...
  76. Do the quantitative finance courses prepare one for the Actuarial exams in the investment track?

    I have 2 exams ... and I found them pretty easy so far. You would think it is easy to get a job as an actuary but it is actually more difficult then you think without any internships.
  77. Help me decide reach/match/safe schools?

    people have different preferences... some prefer the math side more and some prefer the programming side more. depends on what you want to do in the end
  78. GRE Test. Tips?

    I guess the brits are just better in english...
  79. What phone do you have?

    What the hell.... $25?!?!?!
  80. MAC or Windows laptop for MFE students?

    within 8 business days. Yeah exactly. definitely worth the upgrade.
  81. MAC or Windows laptop for MFE students?

    Nope. It was 45$ extra. I'm not talking about an external. For externals, you can probably get an e-IPS for 180ish, they have one on sale right now of an LG 21.5" IPS for 150.
  82. MAC or Windows laptop for MFE students?

    Yeah, it has an IPS screen for 45 dollars. I really couldn't justify paying so much more for a touch screen when I can instead use the money I saved to buy an Ipad or something of that nature.
  83. What phone do you have?

    droid x
  84. MAC or Windows laptop for MFE students?

    The original lenovo wasn't going to arrive by monday anyway... I will just bring in my other laptop for now, it meets all the requirements. It just is ridiculously heavy.. And no, from lenovo itself. The link is below if you are interested...
  85. MAC or Windows laptop for MFE students?

    I just canceled my order for the X220 tablet and went for the x220 instead since it was on sale for 800 bucks with i7 processor and everything.. I couldn't resist and justify the price difference of that much.
  86. MAC or Windows laptop for MFE students?

    I should have it before the refresher course and I do have another laptop that I can bring in if anything. I know your supposed to be the TA correct? :confused:
  87. MAC or Windows laptop for MFE students?

    Hey SYau, mine still didn't ship and I bought it straight from Lenovo just to let you know.
  88. Baruch Math Degree CS Minor Question

    I am a baruch graduate and I've taken Professor Gatheral who teaches financial mathematics, Professor Howard who teaches both stochastic processes and monte carlo simulations, and I know Professor Kosyigna teaches financial math and probability as well. So there are several professors of the MFE...
  89. MAC or Windows laptop for MFE students?

    haha. Thanks for the convincing. I guess I will just get the tablet. I think I am going to get it with an i7 and change the ram and stuff myself.
  90. MAC or Windows laptop for MFE students?

    I am unsure if I should buy an X220 tablet or an x220 at this point. The tablet is only a little more so I am a little indecisive.
  91. MAC or Windows laptop for MFE students?

    Hey Syau, I was wondering why did you get the tablet instead of the regular x220. Do you think I should get the x220 as well? I am a fellow new MFE student at Baruch as well :)
  92. Applying to Columbia MFE

    The word "friends" kind of scares me . Seems like more than 700 people applied this year. :-ss
  93. Columbia MFE

    Baruch, overall 3.86 GPA. Double Major actuarial science and economics. Minor in statistics and quantitative modeling. GRE 800/410/4.5 Received confirmation that application received. 1/14 redirected to MSOR
  94. I just took the GRE general exam and I didn't do well...

    No I'm not. I'm taking it at hunter colleg next semester. I will be taking monte carlo next semester though.
  95. I just took the GRE general exam and I didn't do well...

    I have taken 2 actuarial exams actually. Glad to have found another Baruch student like Yike and me !
  96. I just took the GRE general exam and I didn't do well...

    Yeah I am a baruch student as well. Double major in actuarial science and economics.
  97. I just took the GRE general exam and I didn't do well...

    Would you by any chance be a Baruch student as well Roni?
  98. I just took the GRE general exam and I didn't do well...

    I sure will Andy. Thanks for all your help so far!
  99. I just took the GRE general exam and I didn't do well...

    I know your pain roni... I am an American born and I freaking got a 410... But at least I got a 800Q / 4.5 writing. How is your columbia application going along? I am waiting to submit my stuff tomorrow as well. Also, I don't think you should explain your low grade as it is only an excuse to...
  100. "MFE program profile evaluation" master thread

    Hey Connor. So what are the chances of someone with an 800Q/410V/4.5? I totally blanked out on the vocabulary words and it kind of killed my score. I have a 3.86 overall gpa and I'm a double major in actuarial science and economics. I'll be done with every prerequisite this semester and I will...
  101. "MFE program profile evaluation" master thread

    I received an 800 on my q section and the quantitative section in my mind was a joke. I will have completed every required math course by this semester and I will be taking some extra classes in monte carlo simulations, stochastic processes, more programming classes, math of statistics etc so I...
  102. "MFE program profile evaluation" master thread

    Does this imply that I should not take the GRE again? I received a 410 on the verbal section.
  103. "MFE program profile evaluation" master thread

    Hi, so I received my GRE results today and I received an 800 on the math and 410 on the verbal.. with a 4.5 analytical. How detrimental is the 410 on the verbal to my application ?
  104. "MFE program profile evaluation" master thread

    Would you like to trade verbal scores for writing scores? I got a 5.0/6.0 A but got a 520 on verbal. :). What matters most to these institutions is the math. While verbal/writing doesn't hurt, it doesn't help that much after you break 550 and 4.0 writing I believe but your verbal is above...
  105. "MFE program profile evaluation" master thread

    Thanks a lot Connor! I would use my first paycheck to treat you to dinner as you have helped evaluate my financial engineering profile and helped me choose an internship but that would be kind of creepy :D. Thanks again.
  106. "MFE program profile evaluation" master thread

    My other alternatives are working as an intern at a small finance firm doing basically excel work. I feel as if I will actually learn more in the economics firm but I am unsure of my decision as of yet.
  107. "MFE program profile evaluation" master thread

    Hi all, I am wondering if interning at an economics research firm would help my chances in applying for financial engineering. It is an international firm in New York City and I will be performing roles in checking macroeconomic policies of not just the United States, but Europe and Asia as...
  108. Why Colleges are So Selective?

    There have been studies that these books don't help you that much. Unless you are an international student where english is a second language, these books have been shown to only increase your score by a small marginal amount on average. But I think the reason people are going to school is...
  109. "MFE program profile evaluation" master thread

    It's a December 1st deadline so.. if you are starting all your things now. GOOD LUCK. On a separate note, thanks for responding to my profile Connor. The main reason why I am not doing actuarial science and doing financial engineering is because even when I applied for actuarial science, it...
  110. "MFE program profile evaluation" master thread

    Hello Everyone ! I previously posted my profile here on quantnet but I didn't get a response so here goes! I plan on applying for the Fall 2011 semester. I am 20 years old and currently a double major in Baruch in Actuarial Science and Economics with a current GPA of 3.86. I am doing this...
  111. Hi Yike. I was wondering if I can talk to you about your applications to these schools. I am a...

    Hi Yike. I was wondering if I can talk to you about your applications to these schools. I am a fellow baruch student as well but I am looking to get into the MFE program and I'm not sure of which school I am matched for. I was wondering what your GPA was and what relevant course work you took /...
  112. Bond Price and Coupon rate/ Yield

    I thought you meant that even bond price will be the same.
  113. Bond Price and Coupon rate/ Yield

    This is true but why would two exact same bonds have two different coupon rates? That is a huge arbitrage and you can just buy this bond at the higher coupon rate and sell it for a premium for no risk free profit.
  114. Bond Price and Coupon rate/ Yield

    When you issue a bond, the coupon rate is fixed, the redemption is fixed but the yield rate is not fixed. Think about it this way, so when you buy a bond after issue for 1500 that is 1000 par value, you are getting a lower yield than if you bought it at 1000 because the coupon is fixed. While...
  115. Do all programs start in the summer?

    Thanks for the responses! I'm guessing I won't be applying to Columbia then but that was my dream program. However, Andy, you mention there were programs start in the Spring, can you give me an example? Thanks!
  116. Do all programs start in the summer?

    Hi everyone on quantnet! I was wondering if all programs started in the summer. I was actually looking towards going to Columbia MFE but then I just looked at their website and the program seems like it starts in the summer and there was a line saying "assuming you graduate May 20XX." I am...
  117. "MFE program profile evaluation" master thread

    Chances of getting in an MFE program. Hi all! I am basically becoming a senior this year and I was wondering what the chances of me getting into an MFE program is. I am going to try to get into an MFE program right out of undergrad. I attend Baruch college and I am a double major in actuarial...
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