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Anomanderis
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March 29th, 2012, 4:50 pm

QuoteOriginally posted by: capafan2QuoteOriginally posted by: frenchX@Capafan : Very good one !!!Do you think that with the new regulatory framework (Basel 3, Solvency 2, etc...) risk position would still be see as fuck*ng boring and useless by others ?@Crashmind: Passing from 500k$ to 250k$ is quite brutal and it seems that traders do not know how to SAVE money. I have read an article on Bloomberg mentionning that some Wall Street stars had their style of life totally broken by a 30% bonus decrease.I heard their trophy wives were very upset too. They on shop in Lui Vitton and Jimmy Chui. Excuse my spelling, I am too tired to look up the correct spelling of those brands. Besides I am a IT guy. You can empathize with my lack of knowledge of such things.Where does your wife shop Cappie?
 
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capafan2
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March 29th, 2012, 6:40 pm

QuoteOriginally posted by: AnomanderisQuoteOriginally posted by: capafan2QuoteOriginally posted by: frenchX@Capafan : Very good one !!!Do you think that with the new regulatory framework (Basel 3, Solvency 2, etc...) risk position would still be see as fuck*ng boring and useless by others ?@Crashmind: Passing from 500k$ to 250k$ is quite brutal and it seems that traders do not know how to SAVE money. I have read an article on Bloomberg mentionning that some Wall Street stars had their style of life totally broken by a 30% bonus decrease.I heard their trophy wives were very upset too. They on shop in Lui Vitton and Jimmy Chui. Excuse my spelling, I am too tired to look up the correct spelling of those brands. Besides I am a IT guy. You can empathize with my lack of knowledge of such things.Where does your wife shop Cappie?Wal-mart!!
 
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capafan2
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March 30th, 2012, 4:10 am

Quote and the really old guys ("I'm 36 and about to finish a PhD in Arts history. WTF CM. 36 is a old guy!! I am ready to check myself in an Old Home now. But seriously I remember how I felt at 36. I got old suddenly. At 30 I was virile and horny and all set to impregnate the babes of the world. But at 36 I felt like Charlie Chaplin becoming a father in his 70s. I am already dreading the 40s.
 
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frenchX
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March 30th, 2012, 8:07 am

I know a man who stopped with a Bachelor in Law and then restart his study for his master at 48 years old.Age is nothing when you have the will. By the way he ended first of his promotion. 20 years of experience in a law firm may help EDIT: by the way it's also not so uncommon in France in topic such as "litterature" or "history" that RETIRED people start their PhD on the topic
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CrashedMint
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March 30th, 2012, 8:39 am

QuoteOriginally posted by: capafan2Quote and the really old guys ("I'm 36 and about to finish a PhD in Arts history. WTF CM. 36 is a old guy!! I am ready to check myself in an Old Home now. But seriously I remember how I felt at 36. I got old suddenly. At 30 I was virile and horny and all set to impregnate the babes of the world. But at 36 I felt like Charlie Chaplin becoming a father in his 70s. I am already dreading the 40s.Well, no not really of course. There are probably even lots of examples where some 40 year old guy decided to do something brand new and succeeded, but whenever I read posts of guys in their late 30s finishing their degrees I can't stop but feel really sad. I might be because I moonlighted at a place once and a lot of the lab assistants there were between 35 and 40 and "about to defend soon". They seemed so sad, it's hard to put it in words.
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Cuchulainn
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March 30th, 2012, 9:09 am

QuoteEDIT: by the way it's also not so uncommon in France in topic such as "litterature" or "history" that RETIRED people start their PhD on the topic Mrs. Cuch's great-uncle was an art historian and he retired when he was 104 years of age! He was born in 1897 and died in 2002. Amazing. And her grandmother reached 103!
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traderjoe1976
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March 30th, 2012, 10:07 am

97 years young97 years young. Published his first book in 1936. Still published regularly in top Management Science and Operations Research Journals (even after more than 500 refereed journal articles) and 12 books.
 
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DevonFangs
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March 30th, 2012, 10:11 am

QuoteOriginally posted by: traderjoe197697 years young97 years young. Published his first book in 1936. Still published regularly in top Management Science and Operations Research Journals (even after more than 500 refereed journal articles) and 12 books.I knew the guy already, he's mighty. Used to box if I recall correctly.
 
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CrashedMint
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March 30th, 2012, 10:41 am

These are exceptions. If you're a genius it doesn't freaking matter how old you are. But if you are a normally talented guy age is negatively correlated with entry level job prospects.
 
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Anomanderis
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March 30th, 2012, 10:44 am

QuoteOriginally posted by: capafan2QuoteOriginally posted by: AnomanderisI dunno what you guys are angry about honestly. You're part of the 1% mostly.Or at least almost there...There was a promise of 1%. The rage is because the promises did not happen. Seven Stages of Grief-1. Shock and Denial - My bonus sucks. I am sure everyone else's rocks. I hate life but at-least there is hope for next year and the year after that.2. Pain and Guilt - I still cannot get over my bad bonus. I must work harder. I do not work enough3. Anger and Bargaining - I must be an fool. I need to get an MBA4. Depression, reflection and loneliness - I did an MBA but only managed to get into Risk. My fellow students have a rocking life5. The Upward Turn - Hey so what if I am in risk, my colleagues have better personality and my wife and kids get to see more of me6. Reconstruction and working through - Ok, I am going be try become a Senior VP in Risk and I will contribute to the world not blowing up. I will develop a spine and stand up to those damn traders7. Acceptance and Hope - I totally internalize the fact that I am in senior management in risk. I can look forward to a comfortable retirement and my Kids will appreciate how I can contribute to their lives. Hopefully my old-age should give me something to cheer about.Forgive me if as a core IT fella I find it hard to empathize with quants weeping about their bonuses. Or salaries.
 
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Cuchulainn
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March 30th, 2012, 10:55 am

What about Irving Kahn?
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frenchX
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March 30th, 2012, 10:58 am

QuoteOriginally posted by: AnomanderisQuoteOriginally posted by: capafan2QuoteOriginally posted by: AnomanderisI dunno what you guys are angry about honestly. You're part of the 1% mostly.Or at least almost there...There was a promise of 1%. The rage is because the promises did not happen. Seven Stages of Grief-1. Shock and Denial - My bonus sucks. I am sure everyone else's rocks. I hate life but at-least there is hope for next year and the year after that.2. Pain and Guilt - I still cannot get over my bad bonus. I must work harder. I do not work enough3. Anger and Bargaining - I must be an fool. I need to get an MBA4. Depression, reflection and loneliness - I did an MBA but only managed to get into Risk. My fellow students have a rocking life5. The Upward Turn - Hey so what if I am in risk, my colleagues have better personality and my wife and kids get to see more of me6. Reconstruction and working through - Ok, I am going be try become a Senior VP in Risk and I will contribute to the world not blowing up. I will develop a spine and stand up to those damn traders7. Acceptance and Hope - I totally internalize the fact that I am in senior management in risk. I can look forward to a comfortable retirement and my Kids will appreciate how I can contribute to their lives. Hopefully my old-age should give me something to cheer about.Forgive me if as a core IT fella I find it hard to empathize with quants weeping about their bonuses. Or salaries.+1 for me as well. In the industry, as an engineer the word BONUS is not a common vocabulary. I won't cry about someone who makes 80k$ per year.I remember a Bloomberg article saying that the mean salary in JP Morgan in Wall Street for employees working in finance (so not the toilet cleaner) was around 300k$. That's TOO huge. By the way I don't believe that "life happiness"="job salary" but that's my philosophy.
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CrashedMint
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March 30th, 2012, 11:25 am

QuoteOriginally posted by: CuchulainnWhat about Irving Kahn?Same argument applies.These people - no matter if your 100+ yrs old uncle, or this trader, or some old scientist - are exceptional. They are probably exceptionally smart, and exceptionally lucky. It's simply a social reality that the older you get the harder it is to find entry level employment.
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Cuchulainn
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March 30th, 2012, 11:29 am

QuoteOriginally posted by: CrashedMintQuoteOriginally posted by: CuchulainnWhat about Irving Kahn?Same argument applies.These people - no matter if your 100+ yrs old uncle, or this trader, or some old scientist - are exceptional. They are probably exceptionally smart, and exceptionally lucky. It's simply a social reality that the older you get the harder it is to find entry level employment.Don't worry, there will be LOTS of work in a few years. Model is outdated 70's Rheinland. It's all changing.
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CrazyClimber
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March 30th, 2012, 7:41 pm

QuoteOriginally posted by: CrashedMintWell, no not really of course. There are probably even lots of examples where some 40 year old guy decided to do something brand new and succeeded, but whenever I read posts of guys in their late 30s finishing their degrees I can't stop but feel really sad. I might be because I moonlighted at a place once and a lot of the lab assistants there were between 35 and 40 and "about to defend soon". They seemed so sad, it's hard to put it in words.Oh, come on, this is a bit harsh. If they are 35 to 40 and never finish it would be sad, but if they actually finish, then it can't be that sad. Compare to an auto mechanic or other laborer that hits 40 and has aching joints and a bad back. There are much worse situations to be in than getting a PhD at 40. It may be more sad to think about the people that wanted to get a PhD in their 30's but never went for it and now regret it.Most people going for a PhD don't do it for the money, they do it because they like studying the subject. If that's viewed as a shortcoming, then so be it. But I'll determine my sadness on a case by case basis.
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