SERVING THE QUANTITATIVE FINANCE COMMUNITY

 
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alexanderlondon
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routes to trading CFAvMFEvMBA

November 24th, 2005, 8:24 am

Hi I am 23 year old qualified ACCA working in a mid-tier IB in London ( prodoct control ) and trying to get into either trading or sales.I have already got a place to do MSc in Mathematical Trading and Finance in CASS next year but I'm really not sure about the cost vs the benefit. ( is there any CASS graduates out there actually gone through this route)I have read in this forum that CFA is a broader qualification that is designed for the buying side rather than IB but is it really impossible to get into a decent trading position with it? Do I have to actually wait 3 years to finish it before trying to get a job....Which one do you guys think is the better route to get into trading or sales.....
 
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linuxuser99
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routes to trading CFAvMFEvMBA

November 24th, 2005, 9:11 am

CFA isn't really a trading qualification. It's much more a buy sidwe thing.
 
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alexanderlondon
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Joined: November 22nd, 2005, 7:03 pm

routes to trading CFAvMFEvMBA

November 24th, 2005, 10:27 am

well, that much I knew but do you have any inside knowledge of whats better than CFAWhy is MFE better that CFA, what's different .... or is it just an HR thing
 
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ppauper
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Joined: November 15th, 2001, 1:29 pm

routes to trading CFAvMFEvMBA

November 24th, 2005, 2:15 pm

QuoteOriginally posted by: alexanderlondontrying to get into either trading or salestrading what ?derivatives, then MFE would be a better route out of the options you gavebonds or equities, I'd go CFA
 
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TraderJoe
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routes to trading CFAvMFEvMBA

November 24th, 2005, 11:50 pm

QuoteOriginally posted by: alexanderlondonwell, that much I knew but do you have any inside knowledge of whats better than CFAWhy is MFE better that CFA, what's different .... or is it just an HR thingMFE is far more mathematical. I don't think you see calculus or a PDE in CFA. CFA is for accountants. MFE is for quants/modern traders.
 
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matt247ryan
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Joined: July 14th, 2002, 3:00 am

routes to trading CFAvMFEvMBA

November 25th, 2005, 11:10 am

Probably of no interest whatsoever but societe generale are looking for a sales support person, idea being if you're any good they'll eventually promote you to sales proper.More importantly - Listen, I don't know what you'll make of this but I think you ought to see it, this ad was placed in the Wall Street journal a few days ago, some new kind of trading I think...Tench-Hut!!!Walrus Trader Wanted. Much lolly plenty spend. Must be well risky and have big nutty ego, preferably hazelnut. Reports directly to head of desk - Bubbles the Monkey, flying poop specialist. Duties include:Picking on junior quants, experience giving wedgies desirable but not a must, training given. Bubbles demonstrate monkey thumb technique.Loading orange basket for afternoon monkey fight.DE Shaw applicants (extremely outstanding individuals) required, less obviously remarkable (summa cum laude action) individuals no apply, leave head in manure please, ice-creram man along soon, there there.
 
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alexanderlondon
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Joined: November 22nd, 2005, 7:03 pm

routes to trading CFAvMFEvMBA

November 25th, 2005, 12:46 pm

matt247ryan,that wasfunny , mate, although not very helpful... and thanks for that job reference, will check it out.matt247ryan, trader joe and ppauper,is any of guys actually trading, i would love to hear what was your way in...
 
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ppauper
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routes to trading CFAvMFEvMBA

November 25th, 2005, 1:47 pm

QuoteOriginally posted by: TraderJoeCFA is for accountantsno.accountancy is for accountants.CFA is for fundamental analysis/portfolio management
 
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bhutes
Posts: 516
Joined: May 26th, 2005, 12:08 pm

routes to trading CFAvMFEvMBA

November 25th, 2005, 2:00 pm

Would an MFE be any worse off than a CFA, for someone dealing in equity or bonds only?Or is it just that .... why take the hassle of a more challenging MFE program .... when even a CFA serves the purpose?Second: By your classification, I got the impression that *mostly* there are equity-traders, bonds-traders or derivatives-traders .... not someone who deals with all.Couldn't a trader be a generalist .... dealing with equity, bonds, derivatives at the same time ... to serve his return, risk .. hedging, speculation appetite?
 
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ppauper
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routes to trading CFAvMFEvMBA

November 26th, 2005, 6:56 pm

QuoteOriginally posted by: bhutesWould an MFE be any worse off than a CFA, for someone dealing in equity or bonds only?Or is it just that .... why take the hassle of a more challenging MFE program .... when even a CFA serves the purpose?I reject the premise of your question.CFA and MFE are two very different qualifications covering very different things. It really is quite possible for someone to have a grad degree in quantitative finance and know nothing about economics or how to value companies.
Last edited by ppauper on November 26th, 2005, 11:00 pm, edited 1 time in total.
 
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FlyingQuant
Posts: 178
Joined: October 10th, 2003, 12:54 pm

routes to trading CFAvMFEvMBA

November 26th, 2005, 7:38 pm

QuoteOriginally posted by: alexanderlondonI have already got a place to do MSc in Mathematical Trading and Finance in CASS next year but I'm really not sure about the cost vs the benefit. ( is there any CASS graduates out there actually gone through this route)If you want out of Prod Ctrl and onto the desk do the MSc in MTF. Its def worth it although pricey compared to other MFE courses.
 
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TraderJoe
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routes to trading CFAvMFEvMBA

November 26th, 2005, 11:42 pm

QuoteOriginally posted by: ppauperQuoteOriginally posted by: bhutesWould an MFE be any worse off than a CFA, for someone dealing in equity or bonds only?Or is it just that .... why take the hassle of a more challenging MFE program .... when even a CFA serves the purpose?I reject the premise of your question.CFA and MFE are two very different qualifications covering very different things. It really is quite possible for someone to have a grad degree in quantitative finance and no nothing about economics or how to value companies.Too true. On the other hand it is possible for someone to have a CFA and know nothing about how to value an option .
 
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ppauper
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Joined: November 15th, 2001, 1:29 pm

routes to trading CFAvMFEvMBA

November 27th, 2005, 6:17 pm

QuoteOriginally posted by: TraderJoeCFA and MFE are two very different qualifications covering very different things. It really is quite possible for someone to have a grad degree in quantitative finance and no nothing about economics or how to value companies.Too true. On the other hand it is possible for someone to have a CFA and know nothing about how to value an option .that's true to a certain extent: CFA does covers the black-scholes-merton formula and rudimentary binomial trees, but there's nothing on exotics
 
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bhutes
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routes to trading CFAvMFEvMBA

November 28th, 2005, 4:50 am

ok, see your point. Convinced more about the value of CFA for equity ... also for bonds, but a bit less so.
Last edited by bhutes on November 27th, 2005, 11:00 pm, edited 1 time in total.
 
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alexanderlondon
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Joined: November 22nd, 2005, 7:03 pm

routes to trading CFAvMFEvMBA

November 28th, 2005, 1:52 pm

QuoteIf you want out of Prod Ctrl and onto the desk do the MSc in MTF. Its def worth it although pricey compared to other MFE courses.flyingquant,Do you just say that , or have you done it or know someone that has done it.... i would like to ask you a few more questions if you have and you don't mind sharing experience.
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