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Paul Wilmott: most quants are stupid
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<blockquote data-quote="Ken Abbott" data-source="post: 88591" data-attributes="member: 2940"><p>Another (somewhat more sanguine) thought. There is job growth in finance, even job growth in areas requiring some quant finance, but not in trading and structuring. The growth is in model review, audit, and regulatory control. I've been doing a <em>lot</em> of research in preparation for a seminar I'm teaching on financial regulation and I'm staggered by the scope of the laws that have just been passed. There's an incredible amount of work to be done and not enough people that know how to do it. Want a job at a BB? Skip the algorithmic trading course and take intermediate accounting. Bag the 3rd C++ course in favor of a risk management course. Study Basel. Read about Dodd-Frank. Understand the split of the FSA into the PRA and FCA.</p></blockquote><p></p>
[QUOTE="Ken Abbott, post: 88591, member: 2940"] Another (somewhat more sanguine) thought. There is job growth in finance, even job growth in areas requiring some quant finance, but not in trading and structuring. The growth is in model review, audit, and regulatory control. I've been doing a [I]lot[/I] of research in preparation for a seminar I'm teaching on financial regulation and I'm staggered by the scope of the laws that have just been passed. There's an incredible amount of work to be done and not enough people that know how to do it. Want a job at a BB? Skip the algorithmic trading course and take intermediate accounting. Bag the 3rd C++ course in favor of a risk management course. Study Basel. Read about Dodd-Frank. Understand the split of the FSA into the PRA and FCA. [/QUOTE]
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Paul Wilmott: most quants are stupid
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