Risk Latte's Certificate in Financial Engineering (CFE)

Andy,

Thank you for opening the thread again. Actually, I'd like to be a student here, at least for a while. I realize I am amongst luminaries here. You are running such a stellar website, in a highly technical area, with such a huge fan following and naturally you must be an expert in the area of financial engineering and quantitative finance.
This thread was never closed to begin with but you are welcome. I'd like to remind you that this thread should not be about me, Quantnet, or anything else but rather about the experience of people who took your CFE course.

We provide a neutral platform for people to express their experience, and seek opinion on various courses. As an education service provider, your responses and focus should be first and foremost on your paying customers.

I would like to ask you - you, personally (and not any of your members) - a few questions on which I am really unable to find any answers. I am sure you can help me. And I am hoping that you wouldn't simply do a Google search and post general replies.

I'll come back to you shortly on this forum.
If you think I can find the answer to your question via Google, so can you. It would be hard for me to believe you have something so complex as to require my personal answer. After all, you run Risk Latte which claims
Risk Latte runs Certificate in Financial Engineering (CFE) course in London, New York, Hong Kong, Sinagore and Tokyo, perhaps the best financial engineering course in the World.

Again, thanks for your time and effort offering your view of the discussion. I appreciate you thinking highly of me but it's irrelevant to this topic.

Discussing Quantnet or focusing on any noise is just a way to divert people's attention from the pressing and important issues.

I would really appreciate if you can tell us where is the refund policy on your website, where are the list of 180 graduates of your CFE course that you promise?
 
Andy Nguyen said:
I would really appreciate if you can tell us where is the refund policy on your website, where are the list of 180 graduates of your CFE course that you promise?

I did a google search on linkedin for risk latte and got back 3 profiles [Google search terms: "risk latte" site:linkedin.com and "risklatte" site:linkedin.com].

  • Vojtech BRYCHTA
  • Mukul Goyal
  • Robert Zegarelli

Maybe a linkedin member can reach out to them (Mukul Goyal is already here).

mugoyal said:
About writting CFE on my CV, let me clarrify, I did post that I was currently enrolled in the course from Risk Latte on Linkedin. The key word was "Enrolled" and I would never misappropriate words on my CV or any public document. I repeat I did post it, but with the words "Enrolled".
I can confirm that. The google cache of his linkedin profile does say that.
 
Andy,

You are running Quantnet, you are the FE guru who must be having unsurpassed knowledge in quant finance and you've been or current are a prop trader at Deutsche Bank and what have you. You are almost a cult hero. And this forum of yours is supposed to pontificate - mostly to undergrads and FE grads - about the world of FE and how to prepare them for the real world.

I therefore come to you for help. So here are a few questions from the real world which I want you - you, personally (because that would be very gratifying) - to answer.

My first question:

A risk manager in an large European bank was recently confounded by a quant model where stochastic correlation was being used to value a multi-asset exotic product. The risk manager did understand the code but was uncomfortable with the disconnect between the fundamental math and the real world issues relating to asset correlations. He thought this would also lead to issues with calibrating the model.

What could be the disconnect between the "fundamental math" behind a stochastic correlation model and the real world issues faced by traders when looking at asset correlation?

Regards,
Rahul Bhattacharya
Course Director, CFE
Quantnet's "Ripoff" artiste of the year for FE Education
www.risklatte.com
info@risklatte.com
+852 6395 8032
 
Dear Vojtech,

If you are there, anywhere in this world, please respond to this forum's enquiries. These guys are having sleepless nights worrying about Risk Latte's CFE course.

Regards,
Rahul Bhattacharya
Course Director, CFE
Quantnet's "Ripoff" artiste of the year for FE Education
www.risklatte.com
info@risklatte.com
+852 6395 8032
+852 3752 0619
 
I think there should be a different forum for questions such as these which only the moderator is allowed to answer.

Start a new thread " test Andy's knowledge" and post these questions there.

BTW I doubt You will ever get replies.

See there are two possibilities : Either you wanna discuss this question (which is ruled out as you don't want others to answer) or you wanna test someone's knowledge (who will get nothing by proving himself to you) .

So the logical conclusion would be that there will be no replies.

Cheers
 
Andy,

You are running Quantnet, you are the FE guru who must be having unsurpassed knowledge in quant finance and you've been or current are a prop trader at Deutsche Bank and what have you. You are almost a cult hero. And this forum of yours is supposed to pontificate - mostly to undergrads and FE grads - about the world of FE and how to prepare them for the real world.

I therefore come to you for help. So here are a few questions from the real world which I want you - you, personally (because that would be very gratifying) - to answer.

My first question:

A risk manager in an large European bank was recently confounded by a quant model where stochastic correlation was being used to value a multi-asset exotic product. The risk manager did understand the code but was uncomfortable with the disconnect between the fundamental math and the real world issues relating to asset correlations. He thought this would also lead to issues with calibrating the model.

What could be the disconnect between the "fundamental math" behind a stochastic correlation model and the real world issues faced by traders when looking at asset correlation?

Regards,
Rahul Bhattacharya
Course Director, CFE
Quantnet's "Ripoff" artiste of the year for FE Education
www.risklatte.com
info@risklatte.com
+852 6395 8032



Lol: Are you serious. This seems very childish.
 
Andy,

You are running Quantnet, you are the FE guru who must be having unsurpassed knowledge in quant finance and you've been or current are a prop trader at Deutsche Bank and what have you. You are almost a cult hero. And this forum of yours is supposed to pontificate - mostly to undergrads and FE grads - about the world of FE and how to prepare them for the real world.

I therefore come to you for help. So here are a few questions from the real world which I want you - you, personally (because that would be very gratifying) - to answer.

My first question:

A risk manager in an large European bank was recently confounded by a quant model where stochastic correlation was being used to value a multi-asset exotic product. The risk manager did understand the code but was uncomfortable with the disconnect between the fundamental math and the real world issues relating to asset correlations. He thought this would also lead to issues with calibrating the model.

What could be the disconnect between the "fundamental math" behind a stochastic correlation model and the real world issues faced by traders when looking at asset correlation?

Regards,
Rahul Bhattacharya
Course Director, CFE
Quantnet's "Ripoff" artiste of the year for FE Education
www.risklatte.com
info@risklatte.com
+852 6395 8032


This guy is the director of the CFE? Ridiculous.
 
I wonder if Rahul is trying to be sarcastic ?

Some people don't yet realise that when you type unformatted text, a lot of the "emotional bandwidth" is lost.

I think there is a bit of education that is missing here.
Although we are all using English, we come from different cultures, and in particular things that sound honest or sarcastic in one culture can sometimes come across as admissions of wrongdoing, or just as bullshit.

That is a particular issue for people like Rahul and myself whose education in the language was under more British than American influence. I directly grasp his sarcasm when he refers to himself as a "ripoff artiste", but that will not always be read that way. In particular, Google doesn't understand sarcasm at all, and searching for ripoff certificate financial engineering leads right here. Probably not what Rahul wants.

Rhetorical questions, in particular often go really quite wrong.

I don't happen to know Andy's Quant credentials, and can't be bothered to find them because they are irrelevant to this thread, or his role in the administration of this site.

As a good rule of thumb, the person who attacks the referee will be seen as in the wrong, regardless of any reality.
 
Dear Darth,

You make a valid point. But there could be another take on that; nevertheless it is a valid point, one that I failed to see.

However, my point is this: there has to be "financial engineering" or "quant finance" in a FE portal. And by that I mean the financial engineering and quantitative finance that is actually out there in the banking and the finance world, not the theoretical BS that some Institutes and Universities teach.

If you are not a trader or a quant yourself or if you have never worked in a real bank and have no hands on experience in the field of quant modelling / trading / derivatives / algos & execution then you have no business running an FE portal and pontificating on which MFE is better and which is not. And if you are one, then show your mettle. Period.

How do you know which MFE is better? What are your credentials to judge a course or a University? OK, you are running a portal and there are others coming in and everybody is interacting with everbody, but for what? What do you discuss? What do you analyze? What do you talk about? How many real traders come on this forum? How many real quants or risk managers come on this forum and participate in these dicussions? What practicalities, applications and what value added content - value added in the sense of learning what actually happens in the trenches - does a grad student from an MFE course learn in these forums?

Therefore, Andy needs to answer my questions. He's been (or currently is) a prop trader from Deutsche Bank? He's then way up there, so these questions should be walk in the park for him. This is what he should be talking about in these forums.

Andy, answer my questions. OK, do Google search, or talk to all the quants and traders whom you know (you've got 1,500 members on your Facebook page plus there must be another 1,500 in your rolodex) but for God's sake let's talk some meaningful stuff in these forums.

Regards,
Rahul Bhattacharya
Course Director, CFE
Quantnet's "Ripoff" artiste of the year for FE Education
www.risklatte.com
info@risklatte.com
+852 6395 8032
+852 3752 0619
 
Dude, cool down okay. I have PhD in Finance from one of the top Business schools in USA and I don't know the answer to your question. So I have to acknowledge that you are a real smart guy and can ask really deep (???) questions.
The bottom line is that two young dudes claimed that you ripped them off and hustled them. Instead of addressing the issues raised, you launched into personal attacks and are now asking moronic questions to prove how smart you are. Maybe one of these days you will decide to grow up and act in a mature manner.
 
Whatever you say, Trader Joe. Whatever. I am sure with that Ph.D. in Finance from top school you must be in one of the top tier banks.

What did the two guys say on this forum? And who are these two guys? One guy is a....well, let me not talk about him (for obvious legal reasons) and the other guy wanted a refund because he attended two classes and figured out that this was not his cup of tea. If for that he goes around talking about our course, big deal and who cares. What is there to address? You tell me?

That, our classes get rescheduled due to consensual agreement between all the students (in all locations) who are all practicing bankers and they actually love that fact? That due to travel schedule of our instructors and the students (all bankers) we work on a flexi schedule and the time table is always getting readjusted (such that no one has to miss any classes)? What is there to talk about all this? You tell me? The guy walks into a course and figures out that he's made a mistake - for whatever reasons - and then asks for refund using some filmsy pretext. Are we supposed to give him a refund? Why? You think we are running a charity? You attend two classes and then say, oh, your next classes got rescheduled and postponed (and btw you were well aware of this facet of the course when you joined) and therefore, I think it's all lousy and so please give me a refund. This is what you want me to discuss?

This is what you call hustling? This is what you call ripoff? Big deal!

Andy, answer my question. You said you were a prop trader at Deutsche Bank. I know a lot of very senior front office and middle office professionals in Deutsche Bank - globally - because Deutsche Bank is a client of Risk Latte Company. And if you are what you say you are then I am sure this question would be a walk in the park.

And all other readers, be entertained, laugh all you can, call me any names you want, I don't care. Just make sure your resident Guru Andy Whatever answers my question.

And Trader Joe, thanks to all your attention our company and our CFE course I am growing up. Indeed, many thanks!

Regards,
Rahul Bhattacharya
Course Director, CFE
"Ripoff" artiste of the year for FE Education
www.risklatte.com
info@risklatte.com
+852 6395 8032
+852 3752 0619
 
Andy, answer my question. You said you were a prop trader at Deutsche Bank. I know a lot of very senior front office and middle office professionals in Deutsche Bank - globally - because Deutsche Bank is a client of Risk Latte Company. And if you are what you say you are then I am sure this question would be a walk in the park.

And all other readers, be entertained, laugh all you can, call me any names you want, I don't care. Just make sure your resident Guru Andy Whatever answers my question.

When did Andy say he is a prop trader at Deutsche Bank? Andy owe's you absolutely no answers.

I do not appreciate people running their mouth about my friends.
 
In case Rahul has not read my post #41, I have absolutely no intention to answer any of his questions that are irrelevant to this discussion or participate in any attempt to divert this discussion away from the issues raised. Any further question of the kind will be ignored.

I expect this discussion to be an exchange based on good faith between customers and the owner of Risk Latte Company. The customers have voiced their bad experience of the CFE course and Risk Latte should be forth right in addressing every and all details.

It may well be that the CFE courses in Hongkong, London, Singapore are big success and the NYC course is an exception where the aforementioned bad experiences are isolated incidents. That's the benefit of the doubt we should give to all business who try to defense their business and reputation online.

Now, let's look at this from Risk Latte's point of views. Are the students's claims reasonable about the delays and refund?

Here is the disclaimer that Risk Latte just added a few days ago
* All classes – 6 weekends (12 days) – spanning approximately 80 hours – are expected to finish within a time span of 6 (six) months from the date of the start. However, there may be delays due to unforeseen or internal and external reasons and Risk Latte Company shall not be liable in any way for the same and under such circumstances shall not refund any fee paid in by any student.

Delays are to be expected if you try to accommodate everyone's schedule. That's the downside of flexi schedule - you CAN'T accommodate everyone's schedule. If the course is expected to be complete within 6 months, what is the reasonable delay between sessions?

Do the students agree to the cases where classes can't be held for 2,3 months due to schedule conflicts? Since delay disclaimer has only been put in place a few days ago, is it reasonable for students joining the Jan 2010 in NYC to be upset?

And when they are upset, can they get their money back? If Risk Latte has a zero refund policy visible on the CFE page, it can be argued that students are in the wrong because they haven't read the fine print.

When I go to Risk Latte CFE page, I see this "Also, see Refund Policy on the CFE page on our website. All admissions to the course are subject to the above and the Refund Policy of the company."

I have asked about this Refund policy repeatedly and I hope this time, Rahul would address it once and for all.

If the two individuals are the only people with this experience, shouldn't it make better business sense to give them partial refunds to show that your company is a customer-oriented and you put the experience of your clients before anything else? That may help Risk Latte much more than to go online and go into fighting mode. The longer this goes, the more damage it will cause.

At some point, you will have to ask yourself, is all this worth ruining my business? Would I rather absorb this small loss as part of the cost of doing business for bigger gain down the road?

Again, we offer Risk Latte ample opportunity to set the matters straight. How they decide to conduct themselves online would speak volume about their company.
 
I have attended two corporate training programs of risk latte in 2008/09. One was an exclusive one for my bank and it was good with no hassles. The second one was coupled with blokes from a few other banks and the program was delivered for only 6 out of the scheduled 8 weeks. To be honest the first course though of short duration was helpful and that was one of the reasons why i enrolled for the second course. But the cancellation of classes for the last 2 weeks (which were not rescheduled again) didn't go well with many of us.

Rahul, there is something known as constructive criticism. Since you are in the business of services, you should be able to take criticism and look into improving your service offering. Would attacking Andy improve your service ? If there is a problem in your service, ppl will comment/criticize it. If you really want ppl not to comment on your course either get into a legal agreement with your enrolling students that you will sue them if they comment on ur course or try to take these criticisms in the right spirit,acknowledge them and correct your service.

P.S : I will show you umpteen no of posts on various forums commenting/criticising the CQF, but you never see any of the directors of the program coming and attacking ppl. They let their actions answer them.
 
And all other readers, be entertained, laugh all you can, call me any names you want, I don't care. Just make sure your resident Guru Andy Whatever answers my question.

As a part of the other readers, I'm not interested at all in Andy answering your questions, but in you answering hims, which was the aim of this topic.
And I hope you don't ask any of us another questions about, let's say, Galois theory.
 
Rahul

I had never before heard of CFE except for this thread. I am a Successful trader for the past four years now and I don't think answering your question (knowing answer to your question) will prove whether someone is a capable trader or not.

Just because couple of people had grievances doesn necessarily mean that CFE is a bad course.I know people having grievances with even the top MBA programmes.Now that I have learnt that CFE is a new course in comparison to CQF , its understood if there are any glitches along the road. You should come up with solutions to those rather than raging personal vendettas.

Personally speaking when i decided to join CQF a few months back I didn even know that CFE existed. Also you cannot belittle Andy's contribution and the help that QN and Andy have been providing to aspiring Quants.

Probably You are new to this forum , so believe me you when I say that he does an excellent job .I suppose almost every QN member will vouch for this.

Even Tendulkar has thousand critics.Also I would like to Compliment you for your website which is very nice and informative. I visited it for the first time couple of days back and really liked the quizzes.


Cheers
 
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