<t>QuoteOriginally posted by: Gmike2000There has to be at least some sort of "note" on the model, describing e.g. input and output of its functions, otherwise it is hard to understand for the end user (the trader) or for other quants. The places that are behind are those where knowledge is not distr...

<t>Curious to know what other interests people have. First, actual interests, and second the sub set of intellectual interests:ALL OTHER INTERESTS:For me it would be 1) reading good literature2) playing competitive sport, because it fouses the body, mind and soul.3) plus anything/anyone that/who she...

<t>QuoteOriginally posted by: Gmike2000If it is the bank that has no documentation on anything, it must be the one I am working for...The best documentation is a model that is implemeted.In my experience, those places that are behind are the ones who talk endlessly about procedures, documentations e...

<t>QuoteOriginally posted by: oyvinmotWhere can I find decent literature on pre-trade compliance and risk management in an investment bank? I'm especially interested in state of the art systems and methods within risk measurement (market, credit and operational risk)."State of the art" in risk manag...

<t>Is it possible some get found out as well?I personally feel there is far too much cult and hero worship in what is still a rather young discipline. There have been some fine quants who have added insight and methods to the discipline over the years. As well, there have been a few who have made a ...

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<t>QuoteOriginally posted by: farmerI have done a ton of economic simulations. I find they are slightly useful in thinking about how something works, but not in predictions.I find I can't simulate something unless I can already understand and it better than any simulation could explain or reproduce....

<t>QuoteOriginally posted by: Traden4AlphaQuoteOriginally posted by: torontosimpleguyThere are 2 types of traders - rational traders (they trade based on fundamentals) and noise traders (they trade based on "irrationals").Whoa. Whoa. Whoa. That's an interesting pair of labels. Isn't fairer to say th...

<t>The best way to understand the market is to know that it is full of dopes. Behavioural Finance is a fancy term for this.There are dopes in the cash business, in the derivatives business, there are dopes with PhD's, perhaps even Nobel's and so on. And I am not kidding either. Dont mistake the conc...

<t>Forgetting what is in the literature and looking at reality:Of course:Market makers long gamma in "size" depresses volatility - both implied and realMarket makers long volga in "size" depresses vol of vol - at least the implied.Carry guys long carry (what else) increases skews - at least implieds...

<t>London is where world's serious rich bring their money to.In the face of such continued capital influx, property prices in fashionable areas stay bid. The City too pays billions of GBP in bounses every year. So it is simple supply and demand. Lots of supply of capital, not enough supply of housin...

<t>Opinions?There was a time when 1 Mio GBP was reasonable money. These days, if you are looking at a place reasonably central but not necessarily posh, even 1.5mio GBP does not go very far. Let's give the hypothetical City Trader, 35 years old, 2.4 kids+dog, 1.5mio GBP to buy a property with 250 - ...

QuoteOriginally posted by: danielliuHi:If we say eur/usd is appreciated from 1.31 to 1.35 ,the vol will be going up ,but which one will run faster ? ( if atm vol or 25d vol )Can I answer this with a question:Why do you think vols change?

<t>"Book size" is just loose vernacular, the meaning of which is apparent only in context. There is no unique meaning or description.Examples:1) When you issue a structured note, there is a period of "book building", the subscription period. So for a particular issue it's just the notional. 2) The s...