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Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 4:52 am
by twofish
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.

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 10:07 am
by jambodev
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.

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 1:18 pm
by twofish
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.

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 1:29 pm
by twofish
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).

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 1:36 pm
by twofish
If you are still stuck. Start off by reading Plato's Dialogues and Thucycides's the History of the Peloponesian War.

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 4:26 pm
by ChicagoGuy
I would try to do an independent project with a professor over something revelant in the crisis.

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 7:06 pm
by JamesHH
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 ?

Don't do MFE/MSc Math fin

Posted: December 2nd, 2008, 7:23 pm
by Cuchulainn
ah, ok

Don't do MFE/MSc Math fin

Posted: December 3rd, 2008, 1:02 pm
by phil451
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.

Don't do MFE/MSc Math fin

Posted: December 3rd, 2008, 11:24 pm
by skh
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).

Don't do MFE/MSc Math fin

Posted: December 4th, 2008, 9:43 am
by quantwannabe2
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).