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by Alphabet
March 11th, 2004, 9:20 am
Forum: Off Topic
Topic: .
Replies: 28
Views: 191560

.

<t>QuoteOriginally posted by: NorthernJohnAs an outsider living in the US (but one who is quite familiar with UK politics and government), it really does seem that you guys here are trying your damndest to recreate an aristocracy and a hereditary monarchy. Given the egalitarian and meritocratic prin...
by Alphabet
March 11th, 2004, 9:06 am
Forum: Careers Forum
Topic: prop trading
Replies: 31
Views: 193601

prop trading

<t>QuoteOriginally posted by: NorthernJohn Maybe, but they don't give a new entrant to their firms that long. Unless you are generating good ideas, and some profit flow, earlier on, they tend to let people go (it's happened to people I know). My point, I suppose, is that this means that the people w...
by Alphabet
March 11th, 2004, 9:03 am
Forum: Careers Forum
Topic: prop trading
Replies: 31
Views: 193601

prop trading

<t>No, they're exciting and expanding. I'm sorry if the truth is painful, but the fact that they wanted to interview you is a good sign and one you can use later on when you have more experience. In fact, if it's an early-career job, I'd always advocate joining a bank, anyway, as you will learn in a...
by Alphabet
March 11th, 2004, 9:03 am
Forum: Careers Forum
Topic: prop trading
Replies: 31
Views: 193601

prop trading

<t>No, they're exciting and expanding. I'm sorry if the truth is painful, but the fact that they wanted to interview you is a good sign and one you can use later on when you have more experience. In fact, if it's an early-career job, I'd always advocate joining a bank, anyway, as you will learn in a...
by Alphabet
March 11th, 2004, 8:57 am
Forum: Careers Forum
Topic: hassling the admissions office
Replies: 5
Views: 190208

hassling the admissions office

No, that's harassment. Much better to sit outside their house all night in an unmarked car, and then follow them to work, and park outside their offices. The investment of your time shows that you're exactly the sort of student MIT is looking for.
by Alphabet
March 11th, 2004, 8:39 am
Forum: General Forum
Topic: Annual Salary Survey for Quants
Replies: 64
Views: 197620

Annual Salary Survey for Quants

<t>QuoteAnd in my experience, every time you move firms, your new firm gives you a signing on bonus designed to compensate for the loss of any stock. They in cfact base the starting bonus on precisely the amount of stock that you forego by moving.As I understand it in London: you leave Bank A, leavi...
by Alphabet
March 11th, 2004, 8:29 am
Forum: General Forum
Topic: Annual Salary Survey for Quants
Replies: 64
Views: 197620

Annual Salary Survey for Quants

<t>Quote-Of course, if a trader does have an office it's mandatory to fill it with random garbage (cardboard file folders from departments that got outsourced six years ago are good) to prove that you really belong on the floor. LOL. And piles of CVs, and expensive designer coffee-making equipment t...
by Alphabet
March 11th, 2004, 8:24 am
Forum: General Forum
Topic: boostrap
Replies: 10
Views: 190816

boostrap

<t>Bootstrap in its allusive rather than literal meaning only goes back to 1922, it first appeared (though was probably not coined by) Joyce in Ulysses. As far as I know, it was popular in World War 2, which was a great time for mordant language, as people were asked to solve near-impossible problem...
by Alphabet
March 5th, 2004, 9:21 am
Forum: Technical Forum
Topic: Derivative contracts
Replies: 12
Views: 192917

Derivative contracts

?
by Alphabet
March 5th, 2004, 9:13 am
Forum: Technical Forum
Topic: Derivative contracts
Replies: 12
Views: 192917

Derivative contracts

Quotee.g. if 25D calls are more expensive, it is reasonable to say that the market expectation is for a rise in the underlyingI should have added: -or that the market thinks that a rise will be more impulsive than a fall, even if each direction is equally likely.Sorry Mr Taleb!
by Alphabet
March 5th, 2004, 9:11 am
Forum: Technical Forum
Topic: Derivative contracts
Replies: 12
Views: 192917

Derivative contracts

<t>QuoteThe point here about risk-neutrality is that the "expected return" is not used as an input into derivative prices. This means that the derivative prices won't contain any information about the "expected return". Therefore it won't be possible to extract any information about "expected return...
by Alphabet
March 5th, 2004, 9:06 am
Forum: Technical Forum
Topic: Derivative contracts
Replies: 12
Views: 192917

Derivative contracts

<t>The question was about market expectations. The fact that market expectations are right c50% of the time does not mean that they do not exist. No contradiction.e.g. if 25D calls are more expensive, it is reasonable to say that the market expectation is for a rise in the underlying; it is not reas...
by Alphabet
March 5th, 2004, 9:03 am
Forum: Trading Forum
Topic: Prop Trader seeking advice on US relocation
Replies: 31
Views: 194105

Prop Trader seeking advice on US relocation

<t>Quote I certainly know London, and I'm actually a bit surprised by the numbers. 10-20M USd is about the amount I'm expected to add to my customer book through prop trading. I thought dedicated prop traders in a bank would have higher targets. Two thing on this: first, there are not that many pure...
by Alphabet
March 5th, 2004, 8:50 am
Forum: Careers Forum
Topic: Murex
Replies: 10
Views: 192886

Murex

<t>They need competent people desperately, as they are not exactly full of top talent. And if you get the job, after a year or two, you can make a great deal of money as a freelance as Murex gets more and more popular in banks and hedge funds. (it's a very good system, or at least it's better than a...
by Alphabet
March 5th, 2004, 8:47 am
Forum: Careers Forum
Topic: Vote for your favourite or most hated headhunter
Replies: 125
Views: 207036

Vote for your favourite or most hated headhunter

<t>Quote I'm very cautious when contacting new recruiters these days (and rarely do so!) and just send a descriptive paragraph with minimal contact info to get them to contact me if they're interested.That's what I do too, sending a CV is (a) giving them more information than they deserve, and (b) d...
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