Re: Advice requested: getting into computational finance

Posted by snovik on
URL: http://quantlib.414.s1.nabble.com/Advice-requested-getting-into-computational-finance-tp7422p7427.html

economics as a science is reasonably old compared to our lives-times and has very little formulars in it so that most people can read it and draw conclusions. However, we still live in the current crisis and nobody (i.e. no government) has any real clue about how to get out of where we are. And no need mention that theory of economics failed to warn us before we got here. I can still remember very clearly how Greenspan was treated when he resigned.

So I believe it is a clear sign of how well mainstream theories align with realities. Thus no need to blame quants and their field more than anybody else.


Important disclosure: I am no a quant (as per definition of my position)

Guowen Han-3 wrote

Financial products were too complex and the quants and scholars (especially on exotic derivatives) claim they can provide good foundation (so called) for pricing and risk management. But theory and practice may significantly different.




> Date: Fri, 10 Apr 2009 14:40:53 -0700
> From: [e-mail]
> To: [e-mail]
> Subject: Re: [Quantlib-users] Advice requested: getting into computational finance
>
>
> despite all negativity that one can read/hear these days in the media about
> quants, there is one thing for sure: quants are here to stay. because it is
> not quants who failed, correct? it was risk management / compliance /
> regulation or simple ethics and stupidity. in the aftermath of dot.com
> internet became an almost forbidden word. same is happening now to quants.
> nevertheless quants can and will provide a valid value-adding service to the
> world of financial intermediation, aka banks and co.
>
>
>
> ksvanhorn wrote:
> >
> > My thanks to everyone who has responded; I appreciate your help.  I'm not
> > entirely sure where I'm going with this -- just exploring possibilities,
> > mainly.  Yes, everyone is laying off and hiring is down everywhere these
> > days; dice.com job listings are down 45% from a year ago.  I did find one
> > company, though, that seems to be aggressively hiring software developers
> > with a background in functional programming to work closely with their
> > quants.
> >
> > I have two final questions, if you don't mind.  First, is there a good
> > quick survey of the field, something that maps out the important ideas,
> > topics, and problems?
> >
> > Second, is QF only useful for large enterprises, or could some of this
> > stuff be of use to individual investors and decision makers for
> > small/medium businesses?  Two issues lead me to ask this: 1) transaction
> > costs, which I assume are going to be a lot more significant for a smaller
> > player, and 2) in my initial reading I've encountered an assumption that
> > interest rates for borrowing and lending are (nearly) the same, which only
> > holds for large enterprises.
> >
> >
>
> --
> View this message in context: http://www.nabble.com/Advice-requested%3A-getting-into-computational-finance-tp22982909p22995108.html
> Sent from the quantlib-users mailing list archive at Nabble.com.
>
>
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