What is Veeky Forums opinion on quants?

What is Veeky Forums opinion on quants?

Why would someone with the requisite skills to get a quant job cuck themselves to a big bank? Just start your own business, use your own funds from working a job that won't destroy your social life (and one where you'll be marginally respected) as seed capital.

A few years should be fine tho, to get some experience

Except they're already wanting you to have the knowledge that you need. What experience are you expecting to gain?

Dealing with clients and creating contacts, I think that'd be the main experience (if not the only one)

>Dealing with clients and creating contacts
You're a quant, you aren't doing that. Traders deal with clients. As a quant you'll be expected to inform traders on the price of an asset or something like that.

Quant jobs are a scam. Become a trader with quant skills. As a pure quant you are basically Chad's number bitch while he makes millions and fucks bitches.

I know for a fact that they make ridiculous amounts of money, see renaissance for example. But I suppose most techniques are extremely secret, which makes me question the percentage of automated traders who actually make money, and not just that but who also outperform the s&p500.
I would assume that most of them do not outperform traditional investments and are basically a fraud job at worst, glorified number crunchers for banks at best

only good thing about 911 was finance sellouts jumping to their deaths

...

This.

a trader already has had his kneepads on for 5+ years before he can even have a wetdream about a million dollars
or he has connections and that means someone before him sucked enough cock to make money

who here crypto? high volitility and low fees

imo making new friends that also are interested in this field is priceless.

forgot to add.

for exchange of ideas of course

Quants make more money than scientists or engineers.
If that's your goal in life, enjoy.

Otherwise, think of it as a waste of talent & brains which might have been be applied to something USEFUL. The idea of stock markets and banks was to provide capitalization for doing/making things. I think most of the modern financial industry is made of parasites who ought to be lined up against a wall and shot. Or hung; a rope is re-usable.

This except the extreme shit at the end

They make lots of money. Also I don't like quant firms, they tend to be full of really elitists and arrogant people. I interned at one on the software side though, and first off the CEO was a fucking weirdo with all these liberterian viewpoints and went on some rant about how we need essentially serfdom for people in debt and some shit like that. The people would always brag about how they went to MIT and actually thought anyone cared. I didn't like it but I guess I could grit my teeth if I wanted the money

>CEO was a fucking weirdo with all these liberterian viewpoints and went on some rant about how we need essentially serfdom for people in debt and some shit like that
Well...He's not wrong

He said that companies offering student loans should be able to charge the students a percent of their lifetime earnings forever, since their loan helped them get an education. Ridiculous and out of touch with reality.

lol what the fuck. Can I ask which 'firm' it was?

Side note: I worked at JP Morgan so I have an eternal hatred for the word 'firm'. Just call it a company or business, people.

It was a small prop trading firm on the East coast. I'd rather not say the name because it's small enough that it may identify me. It's decently well known for market making.

Go read My Life as a Quant by South African Jew nerd Emmanuel Derman.

His liberal arts major superiors making fun of the dork made me laught.

It is code monkey job for dork while the smooth talking guy like Andrew Balls are the face of the company and make all the money.

>Become a trader with quant skills.

This, precisely.

Let's see. The big financial outfits offer derivatives of derivatives of derivatives (which in mechanics, coincidentally, is called "jerk").
They're running a casino and taking the "house percentage" of every transaction.
At the very least, they're risking OTHER people's money and unloading any possible downside to themselves ASAP. In the housing crisis, they bought up mortgages, bundled them, double-talked people into believing they were safe enough to be bought by widows and orphans, took the money, and made out like bandits when the dominos began to fall.
Too late, regulations were put into effect that they had to retain at least a portion of the risk -- and now even that slight degree of protection is being repealed and undermined.

What part of "ought to be shot" do you disagree with? Oh, I'm not talking about the quants and the IT staff. I'm thinking Jamie Diamon. Who's still claiming he did nothing wrong. And who'll probably get away with it now that his cohorts have been appointed to run the regulatory agencies.

Okay fair enough that sounds reprehensible I guess I wasn't fully aware of that. I think white collar crimes are never punished enough - I'm sure these crimes killed thousands of people yet since it's indirect through financial theft it's not considered murder, but it should be

I remember a stat in the big short - for every 1% increase in unemployment there are an extra 30000 deaths by suicide. Fuck these people, I'm fully with the user that said that they should be lined up and shot.

I just want a job that makes me do math all day where I can make money, I don't want to have to deal with all this other shit. I was thinking something CFD. Any other ideas?