Quantitative Finance

Mathematics Bsc + Financial math msc doing an internship at a quant hedge fund at the moment.

The one and only thing you need to get a job in Quant finance is strong mathematical skills, particularly probability theory. Some interviews are more on the soft side but the top hedge funds and trading firms will only ask you math questions with IMO level stuff when you get to the final stages. There are several quant interview questions books you can google for which will prepare you. This is given that you are able to land an interview in the first place.

Unless your bachelors is from a top 3 school in UK or US, I would recommend getting a masters degree. The financial mathematics programs are in my opinion way to soft if you want to be a 'real' quant. They have a lot of focus on risk management with some introductory programming and probability courses. You will find people with engineering backgrounds and even some business backgrounds in these programs. These work fine if you want a mid office role in a bank where you are socially competent enough to speak to management and technical enough to create spreadsheets in excel where you price simple derivatives.

Quant hedge funds and propriety trading firms are however looking for applied mathematicians. If you really want to work with this I suggest getting a Phd in applied mathematics, something I'm thinking of doing. The top people at my firm are either professors of math stats or phds with years of experience from places like google. What I enjoy about the work is that any area of mathematics is allowed to be researched and any method allowed to be used, the only thing we're searching for is a statistically significant advantage in the market. If you like math, this is the best job. You get the research experience of an academic but with a salary above any other career path you could take (software engineering / data science).

>What country? If you're European/American you should
Israel

how much machine learning are you boys using?

Thanks for the answer. Are you speaking from a UK or US perspective or does that not even matter?

Does Israel have a large finance industry?

I have no idea

We have a machine learning team of about 5 people and thats what I'm researching during my internship. So far I'm not impressed. Then again I'm not aware of exactly what they're researching and how much success they had in the subject. I believe one of the main advantages of machine learning is the ability to extract features from new sources of data like sentiment analysis on news and image recognition on satellite images. These will stay, but price prediction on noisy stock data is not the best application.

I've studied in UK but I guess they're pretty similar.

I'm doing maths at Imperial. Who would be good for financial maths? LSE or something?

LSTM or GRU?

Not science or math

Just major in astrological litigation, it sounds way less hyperghay than quant

Netherlands has a lot of quant shops

could be interesting to look at although getting a citizenship and learning the language would be a pain in the ass

thanks user

What would be the best place to study Quantitative finance in the Netherlands? Tilburg university?

>not science or math
>a field based on programming and probability, employs physicists and mathematicians
Are you actually such a faggot you go hunting for threads and type that?

for the love of god please don't do this.

fact
humans are better performing in markets than AI

fact
the quants were the ones that crashed the fucking game in the late '00's

fact
anticapitalists and villanious capitalists both want to take the human element out of capitalism and markets. and to further maintain dominance of "the machine".
They hate humanity
but love only themselves and their pleasure

don't be one of those people
becase you wont be
you'll be one of those peoples code monkeys

If you want to get into investing do it with a moral bent. not a technology "ai" , predicitve analysis bent.

kys

>You can't post about careers that incorporate science and math becuase it's not pure science and math
By that logic we can say goodbye to engineering and medicine threads to you piece of shit

>humans are better performing in markets than AI
Proof?

>the quants were the ones that crashed the fucking game in the late '00's
I've literally never heard this

>anticapitalists and villanious capitalists both want to take the human element out of capitalism and markets.

Using the best technology you have to outcompete your competitors is anticapitalist/villanious?

>Taking the human element out of capitalism
kek overload. Capitalism exists to make your life easier, instead of killing yourself on a trading floor you can now comfortably play around with some awesome software for a living.

>humans are better performing in markets than AI
oh you innocent child

>humans are better performing in markets than AI

nytimes.com/2018/01/12/business/ai-investing-humans-dominating.html

>the quants were the ones that crashed the fucking game in the late '00's
then you must be new here. if you watched any of the documentaries on the 2008 crash, and the bank bailouts you will see that , that is when people started putting the buying and selling power into machines rather than humans

>Using the best technology you have to outcompete your competitors is anticapitalist/villanious?
when profits hinge on humans rights violations, yes.

>Capitalism exists to make your life easier, instead of killing yourself on a trading floor you can now comfortably play around with some awesome software for a living.

the trading floor doesn't just exists to make people money. It helps people find the capital they need and insurance and backing to make their dreams a reality, and peruse worthwhile endeavors.
Shares ad stocks exists so companies can have a longer life .

seeing things in terms of only quantity is very dangerous for the human spirit.

Do you have any data to support the claim that the efficient market theory isn't accurate?

no no no, you got it all wrong, you don't prove the negative
maybe read this?
en.wikipedia.org/wiki/Russell's_teapot

>humans are better performing in markets than AI
>fact
That is the biggest piece of bullshit i've ever read. Write a functional predictive quantitative trading algorithm and play it safe while relying on pure data analysis = surefire way to become filthy rich. Yes its disgusting "business" practice and has no positive impacts outside your personal wealth, but who gives a fuck in a world of predatory capitalism where BoE, BoJ and ECB dump more than $250b equivalent to government and corporate bonds every single month through their QE programs. Not to mention that several of the worlds largest investment banks have derivative exposures close to global GDP. Current "financial markets" are a bloated corpse that will collapse the instant central banks stop propping it up or somehow the global suspension of disbelief vanishes... which admittedly is highly unlikely since i dont even remember the last time i've seen criticism of banking institutions and systems discussed in major news outlets (aka reality industry).

My personal tip would be to stay as far as you can from all kinds of finance and banking as you can. Or if you just want to revel in the glory of modern capitalism and get rich, atleast dont preach about holier-than-thou approach or pretend that the system is something that it isnt.

>when profits hinge on humans rights violations, yes.
How the FUCK do quant traders infringe on human rights?

>Writes algorithm, makes profits for himself and fund
>HURR DURR THAT'S A HUMAN RIGHTS VIOLATION

Seriously what level of retarded are you?

>humans better than AI
Ya, while all the newest biggest funds are quant/AI based (Two Sigma, Renaissance, Citadel etc)
>Algos caused 08 crash
I don't even know where you came up with this

Seriously motherfucker how retarded are you? I hope this is b8

Lmao if you want to call calculating compound interest over and over again "real math" go ahead

Econ and finance is just a bunch of people doing pre calculus and pretending they know what they're doing until they find out they're wrong and then say oh noo muh bonds they lost everything let me kms

Im a physics major and I could probably do this way better than actual finance people because I actually study a science

quant traders don't but the companies that their programs buy shares in does.
quats are a set and forget trading letting robots take in all the work.
but from what I have seen, none of them actually take into account anything other than stock prices and market trends.
not humans rights violations, or shoddy business practices.

I am sorry you have lost all hope in the human spirit.
I beileilve it can thrive in capitalism, but laziness gets the better of us all.

and it will only be a matter of time before some beardy hacker finds a loop hole in these quant programs and makes them go all coco for coacoa puffs.

given algos have imporved greatly since '08.
Theres that documentary and everything during the bank bailout.
the bank bailout is when we first heard the term "quants"

so bothyou faggot shills working to suck the soul from the markets of the free people can fuck off with your disinfo cold war campaign.
Just you wait

you don't need a degree for that, OP, just give your customer value. not that hard

lmao memes write themselves. Fucking happy merchants

but he said being a quant isn't a thing in israel

Can confirm

>Im a physics major and I could probably do this way better
Alright. Then how about you get out of the lab and go make some real money instead of doing publicly funded research you welfare queen

Do you work at one or do you just know people? Either way last time I was in NYC and walking around Wall St. I saw more yamakas per capita than I ever had in my life

Lol you are so full of shit and naive. A phd or masters in math is required to excel in the job, obviously theyre doing real math and have real math skills.

Are they actually this selective though? I'm a math MSc student and most people who I see joining the financial sector are the bottom of the barrel students. Honestly, this post sounds like a high schooler who just googled "how to become a quant".

You're not wrong considering places that are at the top, like Renaissance or Citadel, hire mostly physics/CS/math PhDs.

>go make some real money instead of doing publicly funded research you welfare queen

Jesus Christ. I'd still rather my taxbux go to research than to some lazy shit pumping out niglets or trashlets to sit at home watching Divorce Court and dreaming about making it big time.

Totally, the corporate headquarters are in Manhattan though.

desu though, who needs to study economics to study the economy anyway?

>who needs to study economics to study the economy anyway?

wat

kek
Most economists are wrong 99% of the time and are complete conformists

This isn't a "rather" situation
Feds take your beans and distribute them to lazy fucks (researchers or welfare queens) regardless of what you would prefer
How about you just oppose both?