SERVING THE QUANTITATIVE FINANCE COMMUNITY

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by phil451
November 21st, 2008, 7:57 am
Forum: Student Forum
Topic: Easy Integral
Replies: 15
Views: 48450

Easy Integral

<t>This is a Stochastic Integral which cannot be solved by standard deterministic methods. If you want to get serious about financial engineering then you really need to learn how this works. Unfortunately, there is no easy solution and you really have to thinkThe approach to solving it is similar t...
by phil451
November 14th, 2008, 2:22 pm
Forum: General Forum
Topic: What is cash equities?
Replies: 8
Views: 82462

What is cash equities?

<t>My Grammar went a bit haywire in that last post."Now, moving further into the realms of sanity..." should have read "Now, moving further into the realms of insanity..."and"This is different from an equity derivative where there would only the P&L...." should have read "This is different from ...
by phil451
November 14th, 2008, 2:17 pm
Forum: General Forum
Topic: What is cash equities?
Replies: 8
Views: 82462

What is cash equities?

<t>Yes..... there's a bit of confusion here about 'the Cash Equity' and 'A Cash Equity'.A Cash Equity is a simple stock/share (common or preferred). (ie) RBS is currently quoted in London at 51.631 penceIf i was insane enough to want to buy stock in the bank. Lets say a thousand shares i would pay 5...
by phil451
October 31st, 2008, 9:23 am
Forum: Careers Forum
Topic: Working 9-5 while finishing PhD
Replies: 47
Views: 49697

Working 9-5 while finishing PhD

<t>Grow up and count your blessings!Many people would give up their right arm for your problems. Nobody is making you do a Phd or the job you are doing. You can either quit the PhD or find another job. The PhD is your choice and will substantially boost your earning power in the future which i shoul...
by phil451
October 29th, 2008, 12:11 pm
Forum: Careers Forum
Topic: Options traders
Replies: 8
Views: 48478

Options traders

I think that you are labouring under the misapprehension that traders are highly skilled, intelligent and sophisticated people.Although some are, most just follow the herd, whether it takes them to green pasture........... or to the slaughterhouse!That's how we got into this mess!
by phil451
October 29th, 2008, 8:00 am
Forum: Careers Forum
Topic: Options traders
Replies: 8
Views: 48478

Options traders

<t>Just about any front office app worth its salt will carry out all necessary calculations for an option trader. It obviously helps if you have some understanding of the theory behind Option pricing...... but programming, that is a long way down on the requirements list for a successful option trad...
by phil451
October 27th, 2008, 10:32 am
Forum: Careers Forum
Topic: Oxford PT Msc Mathematical Finance Interview
Replies: 13
Views: 57584

Oxford PT Msc Mathematical Finance Interview

I didn't apply for the Oxford MSc, but on the MFE i'm following at the moment the Maths can be split into 3 areas:Calculus - In particular the Diffusion EquationMatrix Algebra - Eigenvalues, Inverses etc....Statistics - Probability Theory, discrete and contiunuos PDFs, linear regression
by phil451
October 3rd, 2008, 8:54 am
Forum: Careers Forum
Topic: Phone interview for graduate program
Replies: 4
Views: 48783

Phone interview for graduate program

You can bet that they will ask you some questions about the current environment. (ie) the US 700 Billion bail out of the US Banking system
by phil451
September 28th, 2008, 6:42 am
Forum: Careers Forum
Topic: How do I become a trader?
Replies: 8
Views: 50281

How do I become a trader?

I'd start with looking for a job as a product controller or trading assistant.Those guys look after traders books. It gets you close to the trading room and to the traders. From there it's easier to make the step into trading.However, trading looks a lot easier than it is
by phil451
September 26th, 2008, 11:22 am
Forum: Careers Forum
Topic: Job Future?
Replies: 20
Views: 52238

Job Future?

<t>I'm with DC on this one. In another thread there was a lot of rubbishing of MFEs because a quant should be open to creative ideas which would not be stimulated in an MFE or CFQ program.I should think that the senior management, as they consider the large black holes in their balance sheet, of eve...
by phil451
September 25th, 2008, 1:56 pm
Forum: Careers Forum
Topic: Job Future?
Replies: 20
Views: 52238

Job Future?

<t>You ask questions as old as time.All i can say is this.In the last 25 years there have been the following financial meltdowns1982 - Latin American Debt Crisis1987 - Stock Market Crash1998 - LTCM debacle2001 - Tech stock crashplus a host of smaller and more localised problems (Savings and Loans, B...
by phil451
September 17th, 2008, 12:21 pm
Forum: Careers Forum
Topic: Is 29/30 Too Late for an MSc?
Replies: 12
Views: 50421

Is 29/30 Too Late for an MSc?

<t>I got onto my MFE with a 2:1 in Mathematics. But Birkbeck also considers work experience as well.HOWEVER, if you are not adept with Matrix Algebra and basic statistics (Normal and Binomial Distributions, elementary probability theory) and the associated integration you will be buried in the first...
by phil451
September 17th, 2008, 11:34 am
Forum: Careers Forum
Topic: Is 29/30 Too Late for an MSc?
Replies: 12
Views: 50421

Is 29/30 Too Late for an MSc?

<t>I wouldn't worry I'm 45 and doing an MFE. Mind you i plan to live forever.Incidentally, although things look pretty bleak at the moment i've worked in the City through a number of financial meltowns [Black Monday (1987), Black Wednesday (1992), although that was a largely UK affair, Long Term Cap...
by phil451
September 4th, 2008, 11:25 am
Forum: General Forum
Topic: PnL Estimate
Replies: 2
Views: 49913

PnL Estimate

<t>The PV of any financial instrument is:"The sum of future unsettled discounted cash flows" This means that when calculating a PV you only need to consider future cash flows. However, when calculating PnL you will need to consider the cash that has already settled on the deal and the cost of fundin...
by phil451
September 4th, 2008, 7:52 am
Forum: Careers Forum
Topic: Help
Replies: 15
Views: 51420

Help

<t>I have just started the part time MFE at Birkbeck. It's to early to give an opinion as i have only attended two lectures so far and they have been introductory lessons on Matrix Algebra (which is straightforward and i know inside out from my undergraduate days). I chose the Birkbeck course becaus...
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