mod

But physics/computer science Phds comprise a large majority of the quants on wall street, if not you need like a double masters or a grad degree in financial engineering. I used to think princeton's ORFE program was the best.

Princeton does not have a business school (they have an econs. dept.) but they have a quant program under the name of MSF (masters of science in finance). This is a strict quant program thought by people from the econs, math and computer sci. programs.

yeah, i know Princeton doesn't have a business school mate, you are not talking to mamagee  . I didn't mean their masters of finance program in the bendheim school of finance. That is a cash cow program too, though they still get great jobs on wall street. When I say a cash-cow program, I mean a program that is designed to chop your money but people are willing to pay since its a prestigious university. Just like what people are arguing about here except an MBA is not an actual cash cow.

For cash cow programs it is hard to get into but not really at par in admissions with other Princeton programs. I actually meant Operations research/Financial engineering department which is ridiculously hard to get into. Far more than columbia's IEOR program (industrial engineering/operations research) which is also very very hard to get into. Both programs, are as you said strictly for math/engineering/ computer science people but they are the equivalents of the playboy house mansion for people interested in quantitative finance.

^ if you want to advertise a site- do so openly mate

@sefago
why are you modifying your post left & right? thought the whole purpose of this thread is to inform people

yes I know, i initially wanted to leave nairaland because it was beginnning to affect my studies a lot (I failed my Ordinary differential exams because i could not stop looking at nairaland)  and  I waste time on it when i have papers to write for school. I also have a thesis to write which i need to graduate. but i found out i am addicted 

Also, i have an incessant fear of the internet, I feel what i post here will one day come to haunt me, I dont know if thats true. So, I try to modify controversial posts. And in addition, I dont want people knowing too much about me, which i have indicated on my posts.

But I think i would stop the modification, and instead post as little as i can

which course are u studing

SEFAGO:

yes I know, i initially wanted to leave nairaland because it was beginnning to affect my studies a lot (I failed my Ordinary differential exams because i could not stop looking at nairaland) and I waste time on it when i have papers to write for school. I also have a thesis to write which i need to graduate. but i found out i am addicted

Also, i have an incessant fear of the internet, I feel what i post here will one day come to haunt me, I dont know if thats true. So, I try to modify controversial posts. And in addition, I dont want people knowing too much about me, which i have indicated on my posts.

But I think i would stop the modification, and instead post as little as i can

brilliant, dats certainly how we like it. NL is a good source of info for young gunz aspiring for greater heights so any little contribution will sure go a long way.
Good luck with the thesis

which course are u studing

why do u want to knw?

since u dey do ODE na. she na Quant Finance

candylips:

since u dey do ODE na. she na Quant Finance

What's quant finance?

qunatitative finance

No, I am minoring in applied mathematics. Man ODE is going to kill me ooo.

Quantitative finance, also known as mathematical finance, is a branch of applied mathematics. It relies heavily on differential equations/computational probabilistic models- that is why candylips assumed i might be studying it.

Ouants build most of the models used in bulge-bracket/Boutique I-banks which would be used in derivative pricing. They are less famous than the Investment bankers, and earn far less. They are the ones with the brains though and are usually in the back office.

By the way @candylips
If you actually know me, you would know the Banking is the last thing I would want to do. I just know so much about it because of my environment.

yes I know, i initially wanted to leave nairaland because it was beginnning to affect my studies a lot (I failed my Ordinary differential exams because i could not stop looking at nairaland) and I waste time on it when i have papers to write for school. I also have a thesis to write which i need to graduate. but i found out i am addicted

Also, i have an incessant fear of the internet, I feel what i post here will one day come to haunt me, I dont know if thats true. So, I try to modify controversial posts. And in addition, I dont want people knowing too much about me, which i have indicated on my posts.

This is one of the reasons i decided not to join facebook because it was so addictive, now nairaland don hook me. What a shame.

Far more than columbia's IEOR program (industrial engineering/operations research) which is also very very hard to get into.

I wanted to apply to that program at columbia but i missed the deadline. This program is one year and it is different from there mathematical finance program which is two years (the one i applied to that rejected me). I spoke the head of the dept. ( i can't remember who it was , i think it was the world renowned Emanuel Derman or Smirnov) but they told me they only take engineers.

Ouants build most of the models used in bulge-bracket/Boutique I-banks which would be used in derivative pricing. They are less famous than the Investment bankers, and earn far less. They are the ones with the brains though and are usually in the back office.

My guy this was one of reasons i decided to 'fashi' being a quant even though i got admission to some other school. I realized that the investment boys make the cash and that "quants" hardly ever make partner at the firm. So i am like why would i want to kill myself for 2 years while boys who have a lesser degree are make more cash than i am? i just decided that doing something else that would pay better would be worth it.

After some consideration, i think the proponents against business schools- especially those in the US (those in the UK and Nigeria are speaking from a very different perspective) win.

http://finance.yahoo.com/banking-budgeting/article/107768/as-riches-fade-so-does-finances-allure.html?mod=career-salary_negotiation

Seems healthcare and education is the next big thing 

This is the best statement from the article:

At age 44, and after 14 years in finance, Mr. Schor sometimes struggles to come to terms with his new identity. "My daughter said, 'You used to be a banker and now you're a cab driver,';" he says. "I said, 'No. I'm the owner of a transportation service.'"

No condition is permanent 

In a way, I am impressed that some people here actually figured out stuff faster than WSJ, on entrepreneurship and business school/finance.

"There was, I thought, a disconnect between prices and anything resembling value in the convertible market," he says.

Prices, value and disconnect.

This occurs frequently in a lot of things and people struggle to see it as most just copy the mass movement and that fuels the price further.

I warned friends about property prices that it was not value anymore at the prices they were going for, but they refused to listen and said the only way is up for houses, it came crashing eventually as the price growth is unsustainable.

I warned friends about buying shares in Nigeria that are not IPO shares as majority of the value was included in the price and there would be hardly any room for more value, but they refused to listen and the shares are not worth a tin of baked beans now.

Price, value and disconnect is the bedrock of my consistent argument here that beneficial differential is not worth the cost differential.

SEFAGO:

In a way, I am impressed that some people here actually figured out stuff faster than WSJ, on entrepreneurship and business school/finance.

People for WSJ be winch?

No, I am minoring in applied mathematics. Man ODE is going to kill me ooo.

Well some people actually see quant finance as a branch of applied maths because the maths in there is very applied in nature.

omo ODE no too hard na. sebi na just first order and second order ODE u dey do. na PDE's get as e be. Too many moving parts but u can master it too with enough practice

candylips:

Well some people actually see quant finance as a branch of applied maths because the maths in there is very applied in nature.

omo ODE no too hard na. sebi na just first order and second order ODE u dey do. na PDE's get as e be. Too many moving parts but u can master it too with enough practice

Wetin be ODE and PDE?

ODE is ordinary differencial Equations - PDE is Partial Differencial Equations(u can derive Black-Scholes formula with this one)

candylips:

ODE is ordinary differencial Equations - PDE is Partial Differencial Equations(u can derive Black-Scholes formula with this one)

no biggie

SEFAGO:

Seems healthcare and education is the next big thing

This is the best statement from the article:
No condition is permanent

I think this actually is the best. . .

"Undoubtedly, I would have gone into finance if the financial meltdown hadn't occurred," he says. "Now I won't make as much money, but I can go home at night and feel good about what I do. That's worth more than any amount of money."

omo ODE no too hard na. Wink sebi na just first order and second order ODE u dey do. na PDE's get as e be. Too many moving parts but u can master it too with enough practice Smiley

Speak for yourself , It is Now between, My brain and the bible. I have more faith in the bible

omo, sefago, that is the most depressing thing i've ever read. Goldmann also needs to read this stuff. My main aim was to go make lots of money in finance first as a CFA before ending up in public service in naija (in the education sector) or becoming a secondary school teacher or principal (this are my biggest passion right now), now it seems that i would just go get my CPA instead of going into finance then and stick with accounting or start my own business, cheiya .

Don't worry, everything has a reason. My problem is 3 times urs  . So you studied accounting, that is a good degree- you are set, why you dey fear? I know ppl who were banking on I-banks, and now the recession expose their yansh  . They are seating GMAT. Also it was old news that a lot of I-banks are slashing their analyst class. In fact they were repealing offers to college seniors last year.

I know this naija guy, very sharp, knows what he is doing, got  internships at JP Morgan IBD, BP trading (on his resume), Worked with a US senator, worked in a private equity firm in DC focussed on Africa, networked like mad-he has pictures with CEOS of major companies: and he  did not get any job offers. Not one. He just graduated, But he is coming to DC, and I would yarn with him so that he can tell me what is going on in wall street.

Heard about this naija girl, she got an offer at Well fargo, and she got it repealed (in their information technology department). Poor girl, considering the fact she is an international student. She managed the impossible and got a job in America, got it repealed, b4 she even did the struggle for work visa.

To make matters worse, the US Senate, planned to make provisions (i dont know if they ever did)  - wanted to make sure investment banks receiving bailout funds  could never hire foreigners, because "it doesn't make sense to hire foreigners, when the banks can hire Americans, the one who are financing the bailout" Immediately I heard that one, I knew all was over, If I-banks stop taking all the chinese and indian people who build their financial models- who go do am? Lazy Americans who fear math like rabies 

Please read
(Disclaimer: I am totally ignorant and mediocre so no one should insult me, I am not worth it-everyone on nairaland knows more than i do. i am just stating what i saw)

Interestingly Bernanke claims the recession is over. While unemployment, stands around 8-9% in the US. Bernanke is probably using propaganda tactics to reassure American consumers  We would have to wait until things work out, and see real recovery, a.k.a I need a job.

(Disclaimer: I am totally ignorant and mediocre so no one should insult me, I am not worth it-everyone on nairaland knows more than i do. i am just stating what i saw)

SEFAGO:

Interestingly Bernanke claims the recession is over. While unemployment, stands around 8-9% in the US. Bernanke is probably using propaganda tactics to reassure American consumers We would have to wait until things work out, and see real recovery, a.k.a I need a job.

(Disclaimer: I am totally ignorant and mediocre so no one should insult me, I am not worth it-everyone on nairaland knows more than i do. i am just stating what i saw)

recent data supports bernanke though. major economies have started trickling into quarterly positive growth.
Impact on common man on the street will only b felt when the major forces in economies start prospering

recent data supports bernanke though. major economies have started trickling into quarterly positive growth.
Impact on common man on the street will only b felt when the major forces in economies start prospering

Agree 100% that i am wrong in that aspect (totally ignorant on the exact data), but I have a feeling (I am not privy to the economic reports) that the heat on Obama concerning the bailout, requires bernanke the president to push for more healthy statistics. Remember, a few weeks/months after the U.S president renominated bernanke, then bernanke presents a report that the economy is recovering and the bailout likely worked.

What major economies are you talking about- Are they the emrging Asian giants- the panda and the elephant (China and India), or are they western European countries. I am too tired to find out, do the research for me. ODE is going to be my nemesis 




Disclaimer: I am totally ignorant and mediocre so no one should insult me, I am not worth it-everyone on nairaland knows more than i do. i am just stating what i think

The bailout likely worked because inter-bank lending rate (libor rate) have since dropped since the global intervention. Although saying that, the trust between these banks are still shaky but be rest assured things are slowly getting back to normal albeit in a more stringent way.

Japan, Hong Kong, Singapore, France, and Germany have all come out out recession. They have all reported positive growths.
http://ezinearticles.com/?Global-Economic-Hope?-Economies-in-Europe-and-Asia-Come-Out-of-Recession&id=2819545

You can always use the link below to track data released. This should give you a better understanding of how things are inter-related
http://www.fxstreet.com/fundamental/economic-calendar/

Japan, Hong Kong, Singapore, France, and Germany have all come out out recession. They have all reported positive growths.
http://ezinearticles.com/?Global-Economic-Hope?-Economies-in-Europe-and-Asia-Come-Out-of-Recession&id=2819545

Japan, Hong kong, singapore are all expected, France too, very conservative banking style that i like. I dont know anything about germany though.

SEFAGO:

Japan, Hong kong, singapore are all expected, France too, very conservative banking style that i like. I dont know anything about germany though.

Germany is the largest economy in europe. Their economy is mainly driven by the manufacturing sector and her main indexes (DAX) is closely related to (DJIA)