martingalebuster, i hope you can stop fucking misleading ppl on this forum. r u really a guy who ever ever woked in front office?

<t>QuoteOriginally posted by: StatTraderQuoteOriginally posted by: YldTarnThis is totally bullshittough to hear if you've spend years and countless dollars studying, but true.I've been working on IR exotic desk for quite a while and never see any product control guys who can make this move. Exotic r...

This is totally bullshit

Why do you prefer forward measure to risk-neutral measure?

Hi guys,Assume we use Hull-White or BGM model. Is there some numerarie under which the CMS Spread follows normal distribution?

I don't agree. For example, exotic rates product has particular exposure to auto-correlation, which you need understand. Cross-currency stuff requires more understanding of the correlation between two curves. Not that easy, dude!

But i feel it's more of flow things. For exotic products, you really can't trade without the quants' models. No price and no hedge.

But to be honest, my feeling is that we are generating profits - by writing the models that can give a price, hedging strategies and risk. Without these, no trade can be done any more. Am i wrong?

<t>I have been working on the exotic rates desk at a top-tier bank as a quant for a few months and my general feeling is that quants are worst respected in the bank compared with traders, structurers and salespeople (maybe just a little better than middel office). I am wondering if this is the case ...