Pursuing finance advice

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7/28/09
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Hello,

I am in the early stages of career redirection, and I could really use some help. I hold a Bachelor's in Electrical Engineering (obtained in June of this year) and about six months before my graduation concluded that engineering was not for me.

First of all, other than a freshman course in microeconomics, I have zero experience relating to finance. I was drawn to it by the testimonials of the many friends I have in the business, and the intrinsic and extrinsic rewards that far outclass those found in a career in engineering. I have continued interest because, in my very recent experience trading, I get an excitement and satisfaction out of it that most closely resembles my experience playing poker for several years.

I have recently started trading on vse, and for right now have been investing based on value and financials and my knowledge of the tech sector. I am setting up a system for more quantlike analysis which I will experiment with soon and will start a portfolio taking those positions when I see some progress.

It was only a few weeks before I realized that with my interest in q finance being such a recent development I had little hope of landing even an unpaid internship that could develop into work experience that would be recognized as valuable by an MFE or MBA program. So the question is how I obtain the fundamentals and experience necessary to gain the credibility necessary to accelerate into q finance.

I anticipate I can get into a moderately competitive school. I have a 3.49 GPA mostly brought down by my first year in school, which when not included in the calculation raises my GPA to 3.75. I am an avid test taker and with some review of the older math subjects I suspect I could do very well on the Q section of the GRE/GMAT. My quantitative background includes fundamental statistics and probability, linear algebra, multivariate calculus, O and P diff eq's, modelling diff eq's.

It has been suggested to me that I return to undergraduate studies and pursue something like an AM/Econ double major. I'd like to know what quantnet's take on this path is.

EDIT: forgot to mention two things. One, I have over a year of combined professional engineering experience, with my most recent experience (8+ months now) involving analyzing silicon reliability and characterization data statistically. The database is billions of rows and terabytes of data and I often slice up data sets exceeding 1M rows for correlations etc. I figure this experience is more than somewhat applicable to being a quant. Two, I have extensive programming experience (in case it were not obvious by my major) ranging from C to Java to Matlab to Python to Ruby. I consider it one of my academic strengths.
 
Don't go back to undergrad. Document your trading experience as a mini project that you can present if needed. Read some finance books.
 
You have a math background, the data characterization project as well as programming background will put you in good stead. Interest in trading is also a plus.
You will need to concentrate on your personal statement and include all your strengths in a logical way. Also scorewell in GRE. As Eugene pointed out, reading finance books is also necessary.
 
Don't go back to undergrad. Document your trading experience as a mini project that you can present if needed. Read some finance books.

You have a math background, the data characterization project as well as programming background will put you in good stead. Interest in trading is also a plus.
You will need to concentrate on your personal statement and include all your strengths in a logical way. Also scorewell in GRE. As Eugene pointed out, reading finance books is also necessary.

I will be sure to emphasize what I have and leave out what I don't when I am looking for a job. As for reading some finance books, could you suggest some that in particular address finance and economics, and any other (online, etc) resource that describes how to set up a good quant station (selecting a brokerage, tools and API's, etc)? I know there is a thread dedicated to books available and I ordered a select few but they did not seem like introductory or tutorial texts. Specifically I'm concerned that I don't understand important macroeconomic concepts (what the heck does LIBOR have to do with it?).



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You play on stars? Fulltilt?
I played on FullTilt and Cake mostly. I think my handle was pennyantics, but it's been a while. Just in case we played a hand together.
 
I have another related question that I don't think deserves its own thread so I will just ask it here:

I first need to elaborate on my poor grade in my early college experience to explain how they are problematic. Here are the more serious ones (semester taken in parentheses):

Microecon (s1) - 2.8
Intro to Diff Equations (s2/summer) - 2.1 <-very bad
Linear Algebra (s3) - 3.1
Prob/Stat (s3) - 3.3
Mathematical Modeling ODE's/PDE's (s5)- 2.8 <- extra bad

Now, Each of these is an instance of motivational problems, which have been resolved for a while now. Because I took all my more 'general' requirements (including the fundamental maths) since receiving those marks, I got:

Multivariable calc - 4.0
Digital Communications (EE class, lots of stochastic process and monte carlo analysis) - 3.5
Electromagnetism (EE, lots of multivariable calc and ODE's) - 4.0
Discrete Signal Analysis - 3.6

and 3.8-4.0's in various other EE classes that cover subjects such as Fourier Series and transformations, Laplace transforms, Complex analysis, and portions of ODE/PDE and fundamental calculus.

I have been thinking hard about how to combat what could be interpreted as an incompetence in theoretical mathematics by any potential reviewer of my transcript. Clearly any personal statement would essentially restate what I have said here - that the key subjects were applied and revisited by my courses as an upperclassmen, with good marks to show for it. However, I am not sure if that will be enough, which brings me to my question:

Would a good score on the GRE math subject test help me out here? This is a risky proposition but one I'm willing to take on if it would pay off. To have scores available for an application to a graduate program starting in fall 2010, I would have to take the test in november. This leaves me three months to do a lot of review and absorbtion of brand new material.
 
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