Typical Major dicussion advice

[Colben Aldrich]

I dont want to get too much into this; but I have 2 options for my degree(s)

I am planning on going double major, mathematics and something computer related. My university offers CS and Computer Engineering. What I have seen through the course descriptions and class requirements for Computer Engineering it gives a better grasp at software development and design than coding. Most of the Math requirements would parallel that of a BS in Math.

Just kind of curious for all you guy's thoughts on it. I am pretty confident what I want to do and I know as long as I am in the school environment Ill do the work.

 

[Jedison]

I would opt for computer science. I can't comment too much about computer engineering but based on your description it sounds like it's focused on developing your coding skills more than anything else. That's good, both degrees would certainly be helpful. There's a lot more to being a computer scientist than knowing how to write code however. In being a CS major you'll focus more on the subtle nuances that very few people (including myself) understand about computers and writing code. These nuances, however, will likely be the difference between your code and the millions of other people out there who know how to program. You'll probably end with a deeper understanding of how to maximize system resources and develop efficient and fast algorithms. By the time you get onto the job market I'm sure congress will have already ended the race to zero but these skills will always be marketable.

 

[CasanovaJ]

By the time you get onto the job market I'm sure congress will have already ended the race to zero but these skills will always be marketable.

What are you talking about?

 

[Jedison]

I'm talking about legislation regulating HFT. Perhaps mandating a minimum latency for trades.

 

[CasanovaJ]

Simons and Asness are two of the biggest political donors in the country, the House will be solidly GOP through at least 2020 because of the 2010 gerrymandering, and the Republicans in Congress are against regulating ANYTHING. HFT will be fine, and so will the preferential tax treatment for carried interest. The politicians all say what they have to in order to sound "populist," but at the end of the day, they won't do anything on this.

 

[Jedison]

So what do think? The race will continue forever? It will end, and it won't be because someone got to 0. It will be because of people like Michael Lewis, or one to many quant firms getting caught paying for illegal data advantages. I think we're a flash crash away from seeing regulation. When the media storm begins it's incredible how quickly a politician's beliefs change.

 

[CandyOates]

If they overregulate then banks will start taking their investments elsewhere, which would hurt the US economy.

 

[CasanovaJ]

My girlfriend is a professional political operative, and I almost worked at the State Department... I know how the political system works. It takes a hell of a lot more for the government to wipe out a multi-billion dollar industry than one provocative book (written by a pretty-boy asshole who thinks he looks "cool" going on TV in unbuttoned pink dress shirts...) The guy's a filthy hippie, and the hype from his book lasted all of two days.

As far as the "flash crash" goes, the exchanges all have circuit-breakers now and won't let it happen... they're all making an absolute fortune off HFT and have no interest in seeing it go

 

[CasanovaJ]

If they overregulate then banks will start taking their investments elsewhere, which would hurt the US economy.

The banks were already regulated with the monstrosity known as Dodd-Frank... It passed in 2010 without a single Republican vote, but the Republicans have complete control of the House now for at least another five years

 

[bigbadwolf]

So what do think? The race will continue forever? It will end, and it won't be because someone got to 0. It will be because of people like Michael Lewis, or one to many quant firms getting caught paying for illegal data advantages. I think we're a flash crash away from seeing regulation. When the media storm begins it's incredible how quickly a politician's beliefs change.

Won't happen. The rhetoric shifts pronto but not the action and decisions. The Lewis book is already passe. These days it's the Piketty book everyone is discussing so Obama will soon start talking about "inequality" -- but rest assured he won't do anything. And doesn't matter whether it's Dems or Repubs controlling the House or the Senate or in the WH, nothing will change. Finance is in the governing seat and it would require violent demonstrations and Molotov cocktails in American streets to change the political status quo.

 

[tfors]

... written by a pretty-boy asshole who thinks he looks "cool" going on TV in unbuttoned pink dress shirts...

:DDon't you think he had an eerie resemblance to Charlie Sheen in that interview?

 

[Jedison]

Won't happen. The rhetoric shifts pronto but not the action and decisions. The Lewis book is already passe. These days it's the Piketty book everyone is discussing so Obama will soon start talking about "inequality" -- but rest assured he won't do anything. And doesn't matter whether it's Dems or Repubs controlling the House or the Senate or in the WH, nothing will change. Finance is in the governing seat and it would require violent demonstrations and Molotov cocktails in American streets to change the political status quo.

I don't disagree but I also think that the molotov cocktail stuff, the things that bring the public and media to the verge of riots are also the things that are most difficult to predict

 

[CasanovaJ]

I don't disagree but I also think that the molotov cocktail stuff, the things that bring the public and media to the verge of riots are also the things that are most difficult to predict

If the "average Joe" actually understood how the political and financial systems worked in this country, there would have been millions of people with pitchforks charging the Capitol a long time ago... and if anything like that were to ever actually happen, I guarantee you that less than 0.01% of the people guillotined on the National Mall would be high-frequency traders. There's much worse s%&% going on in NY and DC than computer nerds front-running stock exchanges.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford

Times haven't changed on that...

 

[CandyOates]

Lets not forget about the whole 99% thing.

Edit: Occupy Wall St. that is.

 

[Jedison]

There's much worse s%&% going on in NY and DC than computer nerds front-running stock exchanges.

I full heartedly agree but I think the high frequency traders are a very easy scapegoat to pin the sins of modern day Wall Street on, particularly when people like Lewis have John Stewart condemning them on national T.V.

 

[CasanovaJ]

I full heartedly agree but I think the high frequency traders are a very easy scapegoat to pin the sins of modern day Wall Street on, particularly when people like Lewis have John Stewart condemning them on national T.V.

The only people who watch Jon Stewart (or could care less what people like Michael Lewis write) are wealthy northeast liberals who enjoy chuckling at his jokes (and may passively agree with them) but aren't exactly the "revolutionary" types... it all boils down to an "establishment" vs. "anti-establishment" thing, all the "anti-establishment" crowd (on either side) managed to come up with was Occupy Wall Street and the Tea Party, and both have either already flamed out, or imminently will. The next presidential election will be Jeb Bush vs. Hillary Clinton, and I guarantee you that neither of them will touch high-frequency trading.

 

[Colben Aldrich]

Im so glad you guys could help me out with my educational decisions :D

 

[bigbadwolf]

Im so glad you guys could help me out with my educational decisions :D

Your decision has to be based on the likelihood of the pitchforks and Molotov cocktails coming out. Since 2008, all bets have been off: capitalism has been on life support, a dead man walking.

 

[CasanovaJ]

Im so glad you guys could help me out with my educational decisions :D

Sorry :D

I'm not even completely sure that I understand your original question... you want to be a quant, your two options for undergrad are--

1) Math + Computer Science
2) Math + Computer Engineering

and you want to know which one to do?

 

[Colben Aldrich]

From reading the Computer Engineering description it seems to have more with Data and software development.

"The focus of the program is integrated hardware/software system design. Increasingly, diverse systems, products, and processes depend on computers for design, control, data acquisition, and other functions.
Studies include mathematical foundations, digital logic and technologies, programming and software design, system components and design, application of theory, experimentation, design tools and techniques, and documentation and maintenance."

I have done a little looking into the C++ course provided here; but from an actual quants perspective would a knowledge of software and data basing be more qualifying than simple Computer Science and coding?

I have actually went through and read quiet a few articles on here and for obvious reasons Id like to make my self more qualified for not only the employers worth of my abilities; but my own if things go south.

It might just be me but if I am going to do something I want to be able to do it right.