Why do you guys hate bankers?

This right here, the Feds have turned us all into the cotton pickers.

I'm an electrician, studying for certs to get into IT.
I wanted to go to school for finance, and now that I'm into trading and crypto I'm regretting not doing so. could I self study and still get a job in finance?

only degenrate Veeky Forums people hate bankers

people in the +2200 member bitpam cryptocurrency trading/mining/coding discord server are open minded and only care about money, not politics.

discord.gg/VpPrGmF

>quant here

how many millions do you have now, and how many are you looking to secure before you retire?

Too much market manipulation.

Back-testing strategies on bias-free data sets is not what brings the hate.

Impressed an overseas businessman on my gap year, he was amazed that I knew so much and even more when i said I had no qualifications.
couple (2-3)of years later I contacted him telling him I finished my qualifications and he got me in the door. Started as a junior analyst.
Worked my way up.
Sal - mid 6 figures without bonus, bonus depends on workproduct and its relevance to profit. Stock options as well.
3 years in two different IB's, mostly due to businessman's change in relationship and getting me a better role.
50 hours a week usually, they are pretty lenient due to the above.
Nope, honestly tradies never really integrate into white collar jobs effectively. You will make more doing what you are doing now.

Because you are all a bunch of socialists.

Deadset honest, not even one.
Taxes chew away some of it, and the rest goes towards everyday stuff and basic risk free investments.
I don't think I'll be the mega millionare, but enough to keep life comfortable. Didn't have to pay for my inner city freestanding so I only really pay rates and expenses.

How are stock options valued at an IB? Are most IBs publicly traded so the options are as good as cash? What about the cases where they aren't?

How are the bonuses calculated? Is the formula known beforehand or is it somewhat arbitrary based on company performance and your own performance?

What is your day-to-day like?

Because all of my money is made illegally.
What's the math on that smartboi?

make sure you save as much as you can then, otherwise you're going to regret it if you dont come out of this with a few million in hand. i know i'd regret working 50 hour weeks with 300k+ salary but subconsciously blowing it on a slowly increasing cost of living.

They are an additional bonus, bonus itself is calculated as you had said, based on a mix of company performance and personal contribution to said performance.

My day to day has gotten out of hand, I wake early. Used to run or do some sort of basic workout, now I just drink coffee and lob around the house for an hour or so.
Head off to work, pick up dinner or supplies on the way home cook and go to bed.
Nothing like what you see in modern media, wolf, big short.. ect

Well I'm saving a hell of a lot on rent and having a mortgage. I do save at least 25% per year and as said before I invest in risk free products .

dont you have a street somewhere to defile

I'm a white American.

Are you expecting some kind of crash bro?
Why the risk free products.

>We are doing what you are doing
With someone else's money that didnt openly state that wantes you to do this and that dosent benefit from it whatsoever

Do you like your job?
When do you plan to retire?

Bonds are a crock of shit in most cases, I should add that I have a specific investment strategy aside from the risk free investments. But risk free means that I don't have access to all of my money, will save and accumulate. So I don't go and buy stupid things.
They do benefit given they have invested, if a claim on their assets has been purchased then clearly it is unfortunate collateral damage.

Love it, but have been thinking of taking some time off to just do nothing, walk around aimlessly all day and have more time to see friends.
I don't plan to at this stage, working does make me happy, I enjoy what I do.

greedy neets trading crypto have not crashed the whole fucknig economy yet, so it think ill take their side at least for now

Do you work in London?

I have a PhD in Economics. 30 years old. How can I get a job in quant finance?

You make mid six-figures as in ~500k/year? After tax that is ~$300k. Even with living expenses you should be a millionaire in around 5 years.

You mention risk-free investments as though those aren't investments aren't calculated into your net worth? Did you mean you don't have a million in cash?

Wrong. It's more like this :^)

youtube.com/watch?v=xxD9nGL3NLY

Are you or your work worried about the spread tightening on 2y - 10y T Bonds?

Go the IT cert way, you will make bank.

Kind of interested too, 20 y/o Texan going for at least Bachelor's of Finance at University of Houston

>not a target school

I know, but I can't afford to go to Cali or New York for that.

What exactly looks good on a resume for the field or extra requirements gives a better chance of landing the job?

I have this guy beat on savings. I will be living in a trailer while my mining rigs and IT job will bring me a pretty penny.

>should add that I have a specific investment strategy aside from the risk free investments

What is this strategy?

I don't have a million in liquid cash. Unfortunately under 500. In the 4 range.
Property purchased by parents and grand
parents due to sale of a family business. Remember CPI and additional unforeseeable costs. My lower investments are used to mitigate said costs.

I have moved away from bonds, cash deposits are able to offer more dependent on how much you have and who you know.

Don't bother, target school or have contacts.

You probably are better with day to day cash management , but I could not bare to move from my townhouse. When the bubble pops however it will plummet.
Why would I share this?

>Why would I share this?

Not expecting a step-by-step guide.
I'm just looking for semi-risky investments with 5-15% return. Thought you might have something interesting to share.

> how many sets of data would you cross analyse
How many can you buy?

I would have plenty of advice given more information on your current portfolio.. Do not say crypto.
I don't buy datasets, I compile and analyse my own from commercial data sources.

Hi OP,
Currently I am in school for a Finance Degree from a top 100-150 college. What can I expect for an entry level job?

historical data for crypto exchanges is pretty unreliable and hard to get in the first place, so most people avoid real algo trading and just use basic MM or arb strategies.

Which country and in which increment of 10 would you rank from 0-150?
It' a turd of an investment from a professional sense, trading off gut feelings can bring home the bacon though.

USA,
Connecticut College (#105 on forbes list)

coffee boy, unless you are a spectacular candidate

> not just going to uconn
how's livin in hard hittin new britain?

RIP

Living the life

a lot of exchanges have 0 maker fees, so making markets can be profitable, but its just not worth the stress of keeping hundreds of thousands on a shady crypto exchange, even gdax with its flash crashes is pretty risky.

seriously go start a trades business, you will make more than being stuck at entry level for the next 20 years.

That's exactly it.
Lack of regulation allows for easy theft, extra charges without notice. It's a minefield.

will you ever stop shilling this cancer

Do you even barbell, bro?

Also which desk, which city, which product? EM xccy swaps here.

Because follow the money.

Get me a job, fagget. PhD Econ .

how is it cancer

Get PhD from maths/physics or network super hard if your econ PhD is not from a top school.

Or apply to big4 or try some small, boutique firms which are pretty great too.

you are all unnecessary middlemen belonging to a cartel that waseled its way into legislation through bribery ehm (((lobbying)))
central kiking system is the most criminal way of stealing wealth from the productive and the very bottom of society
I hope you all burn in hell when crypto takes over, together with your handlers/owners

It's a job, how is it any worse then being a bank teller who the consumer will eventually blame on their home foreclosure due to their own negligence?
There is no stance only the depiction painted by an angry society who hate the million dollar a year man in a suit.

Do you use ml in your models? Also how do you backtest without overfitting?

You guys are all pretentious faggots I made more than you as a Canadian plummer

Nice larp.

Since when quants are bankers?

Quants are autists with mathematical superpowers that are dedicated exclusively to solving really, REALLY hard problems because that's what they love to do. Most of them are so autistic that don't even care about money, but they are rich as fuck.

>oh, its this thread again
Hows it plumming, my mang?

Consider posting your algorithms on Enigma's data marketplace and make insane money on the side, you are in a win-win situation if you play your cards right

Op here, had a small nap and moved to a phone.
I've never really wanted to sell them, but please tell me more.

LASSO, Variance inflation.

T. asset management quant

im a banker AND I hate bankers.

you represent the face of a monopoly, one that shits all over the population by having privileged access to funding that's usuriously passed on to those who dont
I'd have respect for you if you'd compete in a free market like the rest of us, that's all

It's a investment platform specifically designed for quants, people can invest in your algorithm and pay you in ENG on a subscription level which will be pretty valuable in the future. No need for the algorithm to be publicly displayed plus the success generated from it equals a win-win situation for you.

yet another system started to pay people in some shit token that cost the creators of the platform exactly zero to print.

why exactly would any of these people agree to be paid in some worthless token instead of at least a liquid crypto currency.

People place too much importance on you. 2007/2008 left a bad stain in my mouth.

>inb4 I get (You)s telling me it was someone else's fault.

I'm rejecting every single credit offer thrown and going to live solely off cash until I move to a country with responsible banks.

Central banking is the devil.

is there math formula to predict when the chink government plans to fuck me next?

The usury

TA is a self fulfilling prophecy, how come you dont even understand this basic stuff.

Nice LARP, no quants call themselves "bankers". Only m&a and coverage are really considered bankers in the indusrtry. Fuck off normie LARPer

i dont hate bankers, i hate tje fact you have no real competition, and the tax payer bailed you out in the gfc, so you dont face market dicipline. so you are a massive source of missalocation of wealth, which has mainly been away from small buissiness

Truth
Your trade has abandoned financial analysis. Corporations that have never generated positive net income continually trade at all time highs ........... .......

We hate bankers.

Because we are the Bankers Now.

It's our money. They cant control it or make it, we make it and control it.

Any body and every body can participate in the mining process. which is essentially facilitating coin transactions.

Banks used to have the exclusive right to do this, now we do it.

Fundamental analysis always prevailes in the end.

A company that goes broke gets delisted.

The market is was overpriced atm, historic high P/E. we are going to see a massive market correction, taking indexes down with them.

>I hate bankers
I don't hate bankers. I hate HSPTsQuant fags like you(even though this is probably just a shitpost and op thinks he's the shit for building a simple bot).

Lets go over why I hate HSPT/Quant fags:
1) They usually have unfair/illegal data feeds
2) The systems destroy volatility
3) Your systems have no regard for fundamental data
4) you have subsequently created riskier products
5) You manipulate trades (flash crashes, mass order cancellation, etc)
6) you claim you are doing a service by providing "liquidity"

Fuck off

I hear this all the time, most public data feeds are delayed 20 mins, si you gotta know what to do to make a quick Buck

What isn't overprices these days?

>white american
>makes money illegally
the jews really did a number on you guys

Historically, crashes happen when market sentiment goes too far away from the fundamentals. Unprofitable shit like Tesla, Amazon and Uber are going the fuck down. Expect a crash soon.

In crypto atleast i don't think bots are bad at all. I like pump bots for example. Very useful those and i usually go along for the ride(im not talking yobit pumpbots here). I think most of the other bots are tiny-orders bots and it's not many of them to make or break a market, I don't know if those are "HSPT" bots though. Spreadtaking bots help a market from drying up. Arb bots make sure your order gets filled. I'm sure in stocks it's a different story.

s/many of them/enough of them

Maybe because it's built by MIT grads?
>yet another system
There has never been a coin in crypto specifically targeting the entrance for quants in crypto, this is the first to do this. But I digress, maybe you will realize the value in this after you see it top 25 on cmc

>Why do you guys hate bankers?

Why do you bankers hate cryptocurrencies? That's more to the point.

youtube.com/watch?v=aKplJYWO7DM

decentralisation and shift of wealth to the undeserving poor... clearly