Ok, I will try to help you. First off, to say time series is like neural networks really shows how bad your understanding of this stuff is If you want to learn about time series, take a look at Robert Almgren NYU Courant home page -- he teaches a course on the subject and post lecture notes online, in addition to other references. Now, as for complex derivatives -- yes, the big clients got burned pretty badly, but there are still some activity going on, although at a fraction of what it used to be. I'd say a decade is perhaps too long. Some areas are actually growing (eg equity derivatives, FX & commodities structuring). The problem though is that for each seat, there are hundreds of suitable candidates + strong incentive to hire internally. The other thing is that Hull is light for someone aiming at being a derivatives quant. There are many books that can be helpful. I would suggest, as a follow up to Hull, that you try Baxter/Rennie and MJoshi's book. Reading the books might not be enough though, so I suggest you read it and get your hands dirty trying to implement some of the models. If you can read French, I also suggest reading El Karoui's notes that is available on her website. As for HH: different strokes for different folks, but in my view it is much better to find a good HH and stick to him than distributing your CV to everyone who posts a (fake) job on willmott.com. In a market like this, personal contact is probably more useful in getting your CV across than a HH. I can refer you to some HHs that I had good experience in the past (PM'me for details). Last but not least: try to talk to people in the area and figure out what you want to do -- that is the most important thing at the entry level. Once you start, it is much trickier to change areas, so be sure you know what you're getting into.
Last edited by Nomade
on February 20th, 2009, 11:00 pm, edited 1 time in total.