SERVING THE QUANTITATIVE FINANCE COMMUNITY

  • 1
  • 3
  • 4
  • 5
  • 6
  • 7
 
User avatar
twofish
Posts: 4944
Joined: February 18th, 2005, 6:51 pm

Don't do MFE/MSc Math fin

December 2nd, 2008, 4:52 am

If you've already started on the MFE, you are better off finishing it. Think of it as a personality test to see how you can make the best of an uncertain, and possibly bad situation. The one thing I'd do is to see what you can do to make your degree different and relevant to the new economy whatever it may turn out to be.
 
User avatar
jambodev
Posts: 80
Joined: September 6th, 2008, 11:07 am

Don't do MFE/MSc Math fin

December 2nd, 2008, 10:07 am

What are the contents that you would suggest for one to study (apart from what MFE programs offer) to make one's degree (or one's knowledge rather) different and relevant.
 
User avatar
twofish
Posts: 4944
Joined: February 18th, 2005, 6:51 pm

Don't do MFE/MSc Math fin

December 2nd, 2008, 1:18 pm

QuoteOriginally posted by: jambodevWhat are the contents that you would suggest for one to study (apart from what MFE programs offer) to make one's degree (or one's knowledge rather) different and relevant.I can't tell you that. The problem is that if I tell you to study X, then everyone will study X, and your degree will not be different, and beside in this environment your guess is as good as mine. So what you should do is to read the news, go to the library, think about what is going on, and then you tell me what you think you need to study. Also what you study is highly dependent on your own background and interests.The basic problem with the MFE is that it makes a promise that it can't deliver. That you sit in class, learn X, pass the tests, get the degree, and get the job. That's not realistic. The problem is that the teachers have no idea what is going on, because no one knows what is going on. So to do something, you have to take what you learn and somehow figure what to do with it, and no one can tell you exactly what that is because no one really knows. You have to figure it out for yourself.
 
User avatar
twofish
Posts: 4944
Joined: February 18th, 2005, 6:51 pm

Don't do MFE/MSc Math fin

December 2nd, 2008, 1:29 pm

Something that I find useful is to go on wikipedia, pick a random article, and then spend on month studying whatever the article lands on. Figuring out what some random topic has to do with finance is easy because everything has something to do with finance. At one point I did this, and the random I-Ching said "study 19th century Hungarian history." Once I started reading about 19th century Hungary, I quickly ran into Ludwig von Mises, Karl Polayi, Miklos Horthy, Bela Kun and Martians (yes Martians).
 
User avatar
twofish
Posts: 4944
Joined: February 18th, 2005, 6:51 pm

Don't do MFE/MSc Math fin

December 2nd, 2008, 1:36 pm

If you are still stuck. Start off by reading Plato's Dialogues and Thucycides's the History of the Peloponesian War.
 
User avatar
ChicagoGuy
Posts: 455
Joined: April 13th, 2007, 1:45 am

Don't do MFE/MSc Math fin

December 2nd, 2008, 4:26 pm

I would try to do an independent project with a professor over something revelant in the crisis.
 
User avatar
JamesHH
Posts: 66
Joined: March 29th, 2008, 1:35 am

Don't do MFE/MSc Math fin

December 2nd, 2008, 7:06 pm

QuoteOriginally posted by: twofishSomething that I find useful is to go on wikipedia, pick a random article, and then spend on month studying whatever the article lands on. Figuring out what some random topic has to do with finance is easy because everything has something to do with finance. At one point I did this, and the random I-Ching said "study 19th century Hungarian history." Once I started reading about 19th century Hungary, I quickly ran into Ludwig von Mises, Karl Polayi, Miklos Horthy, Bela Kun and Martians (yes Martians).No TJ retort to this ?
 
User avatar
Cuchulainn
Posts: 62638
Joined: July 16th, 2004, 7:38 am
Location: Amsterdam
Contact:

Don't do MFE/MSc Math fin

December 2nd, 2008, 7:23 pm

ah, ok
Last edited by Cuchulainn on December 1st, 2008, 11:00 pm, edited 1 time in total.
Step over the gap, not into it. Watch the space between platform and train.
http://www.datasimfinancial.com
http://www.datasim.nl
 
User avatar
phil451
Posts: 83
Joined: December 7th, 2007, 8:21 am

Don't do MFE/MSc Math fin

December 3rd, 2008, 1:02 pm

My Chiropractor is the only person who has managed to fix my back after i came off a mountain bike and popped a rib as i tumbled down the side of the mountainIf my MFE proves to be half as effective as my chiropractor i will be one very happy man.QuoteOriginally posted by: whamMFE programs are crap in the same way that chiropractors are crap IMO. Probably won't hurt, but will only truly benefit a tiny % of customers and will definitely cost a LOT.
 
User avatar
skh
Posts: 53
Joined: April 28th, 2008, 2:22 pm

Don't do MFE/MSc Math fin

December 3rd, 2008, 11:24 pm

QuoteOriginally posted by: jambodevHi Everyone,recently started a MFE program and was just reading this old thread, and I must say, tone of most of members and senior members is very depressing. It makes me feel like quitting, although I'm not a quitter, but thats how a MFE student feels like when reading this thread. Are things really that bad? Are MFE programs that bad that many senior members say they are worthless? I knew that when I graduate in a year or so, I'm going to struggle in the current market situation But I didn't know that we are going to be perceived as bad as I can read on this thread, specially by those who are in this business for long.Its really depressing.i finished msc math fin this year in july and found a job. so did most of the people i know from my course. mfe is not worthless, you just have to see it in the right light. obviously, it is not a phd (and there is sometimes a certain snobyness of phds on this forum). if you talk to a person doing an mba at your school, that person will probably respect you for "the hard stuff" you are doing on your course ...people say, and it is my impression as well, that you don't get straight quant jobs with an mfe. but how many of these jobs are there anyway and how desireable are they? i am a quant developer (apparently some people's nightmare) and 80% or so of the people in the extended quant group i work in have phd's and are essentially doing the same stuff as i am. and this is a well-respected ib.and then, looking through some of the older threads here, a theme that comes up again and again is a variation of: i am some sort of quant/quant developer/it guy whatever wannabe, how do i get onto the trading floor? half the people on my course went into trading or other front office roles such as sales or structuring. none of them had a phd.one guy went into algo trading at what was presumably one of the strongest groups around. our phd ta from one of the classes nearly burst out into tears saying that this was exactly the job he wanted ...so it depends. if you work hard and are not stupid, you will get very good jobs with an mfe (or even "lesser" degrees), if you are an idiot, even your hard science phd will not get you anywhere (yes, i have met some stupid phds).
 
User avatar
quantwannabe2
Posts: 16
Joined: September 22nd, 2008, 12:07 pm

Don't do MFE/MSc Math fin

December 4th, 2008, 9:43 am

what school you went to if don't mind sharing?QuoteOriginally posted by: skhQuoteOriginally posted by: jambodevHi Everyone,recently started a MFE program and was just reading this old thread, and I must say, tone of most of members and senior members is very depressing. It makes me feel like quitting, although I'm not a quitter, but thats how a MFE student feels like when reading this thread. Are things really that bad? Are MFE programs that bad that many senior members say they are worthless? I knew that when I graduate in a year or so, I'm going to struggle in the current market situation But I didn't know that we are going to be perceived as bad as I can read on this thread, specially by those who are in this business for long.Its really depressing.i finished msc math fin this year in july and found a job. so did most of the people i know from my course. mfe is not worthless, you just have to see it in the right light. obviously, it is not a phd (and there is sometimes a certain snobyness of phds on this forum). if you talk to a person doing an mba at your school, that person will probably respect you for "the hard stuff" you are doing on your course ...people say, and it is my impression as well, that you don't get straight quant jobs with an mfe. but how many of these jobs are there anyway and how desireable are they? i am a quant developer (apparently some people's nightmare) and 80% or so of the people in the extended quant group i work in have phd's and are essentially doing the same stuff as i am. and this is a well-respected ib.and then, looking through some of the older threads here, a theme that comes up again and again is a variation of: i am some sort of quant/quant developer/it guy whatever wannabe, how do i get onto the trading floor? half the people on my course went into trading or other front office roles such as sales or structuring. none of them had a phd.one guy went into algo trading at what was presumably one of the strongest groups around. our phd ta from one of the classes nearly burst out into tears saying that this was exactly the job he wanted ...so it depends. if you work hard and are not stupid, you will get very good jobs with an mfe (or even "lesser" degrees), if you are an idiot, even your hard science phd will not get you anywhere (yes, i have met some stupid phds).
ABOUT WILMOTT

PW by JB

Wilmott.com has been "Serving the Quantitative Finance Community" since 2001. Continued...


Twitter LinkedIn Instagram

JOBS BOARD

JOBS BOARD

Looking for a quant job, risk, algo trading,...? Browse jobs here...


GZIP: On