SERVING THE QUANTITATIVE FINANCE COMMUNITY

 
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Arhs99
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Joined: March 10th, 2012, 11:53 pm

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April 29th, 2012, 11:51 pm

Hi allI apologise in advance for the long message that will follow but I feel my situation is maybe less ordinary (don't they all feel the same?) and needs some more words to paint the picture. I studied for a PhD in Chemsitry and worked in pharma. I am not a believer of having one career in a lifetime especially when the rewards (not only financial but mainly this) are thin. I was, between a lot of other things, involved with online poker, quickly got over with the addiction/degenerate side of things (i.e. I ran goot) and eventually developed to a profitable player and still I am. I haven't become a millionaire but I've managed to turn my bank balance to positive numbers and then I thought it's a good idea to invest my savings on my own instead of paying another idiot (fund manager) to lose my money. I thought I can look into trading and maybe beat the learning curve by avoiding the marketing junk that promises riches to the fish since I saw all that in poker before. I opened a forex account but I never traded with any significant money since I realised that I cannot make any money. However my research led me here and I actually found it fascinating in the meantime reading about the markets, microstructure, price discovery and then martingales, stochastic calculus etc but also Economics (I forgot to mention that I enjoy making money as much as finding out how things work - the science of economics seems to be essential to understand how and why the world goes round)So I keep playing poker and working part-time in pharma research (more as a hobby now and for the social aspect) and studying Finance and not having a life and I'm thinking about the possibility of investing in a Msc course (Cass is one I am looking) and dare I suggest looking for a job in the industry. I don't want to fool myself so I know I cannot be an expert in quant finance and I don't even have an idea about C++ but my plan is to get credentials to get my foot in the industry or failing this to know a bit more so I can trade my own money. (Of course I'll never invest money+time for this course if I have non realistic chances of a career) Do you think I'm completely out of touch with reality? Any suggestions? Many thanksPS: Oh I forgot to say I'm 40 nnow.
 
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MattF
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April 30th, 2012, 7:52 am

How can you make money in the current poker environment post Black-Friday? Pimping rakeback like a boss? I'm in the UK so can still play on Stars but the volume has vanished in the turbo SnGs I used to play. I think you'll find it extremely difficult to get a job in the Finance industry now, even if you do the MSc to be honest. Of course you're intellectually capable of it but who's going to give you a job on graduation? It's possible but doesn't seem a good risk/return given the current state of the quant finance job market.
 
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rmax
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Joined: December 8th, 2005, 9:31 am

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April 30th, 2012, 8:44 am

QuoteOriginally posted by: Arhs99Hi allI apologise in advance for the long message that will follow but I feel my situation is maybe less ordinary (don't they all feel the same?) and needs some more words to paint the picture. I studied for a PhD in Chemsitry and worked in pharma. I am not a believer of having one career in a lifetime especially when the rewards (not only financial but mainly this) are thin. I was, between a lot of other things, involved with online poker, quickly got over with the addiction/degenerate side of things (i.e. I ran goot) and eventually developed to a profitable player and still I am. I haven't become a millionaire but I've managed to turn my bank balance to positive numbers and then I thought it's a good idea to invest my savings on my own instead of paying another idiot (fund manager) to lose my money. I thought I can look into trading and maybe beat the learning curve by avoiding the marketing junk that promises riches to the fish since I saw all that in poker before. I opened a forex account but I never traded with any significant money since I realised that I cannot make any money. However my research led me here and I actually found it fascinating in the meantime reading about the markets, microstructure, price discovery and then martingales, stochastic calculus etc but also Economics (I forgot to mention that I enjoy making money as much as finding out how things work - the science of economics seems to be essential to understand how and why the world goes round)So I keep playing poker and working part-time in pharma research (more as a hobby now and for the social aspect) and studying Finance and not having a life and I'm thinking about the possibility of investing in a Msc course (Cass is one I am looking) and dare I suggest looking for a job in the industry. I don't want to fool myself so I know I cannot be an expert in quant finance and I don't even have an idea about C++ but my plan is to get credentials to get my foot in the industry or failing this to know a bit more so I can trade my own money. (Of course I'll never invest money+time for this course if I have non realistic chances of a career) Do you think I'm completely out of touch with reality? Any suggestions? Many thanksPS: Oh I forgot to say I'm 40 nnow.Think you might find it a challange begining at the bottom again with a number of 23 yo whizz kids. I know a guy who went from a senior position in BO to trading and found the transition difficult. He stuck it out for a few years made $$$ and then went back to BO.
 
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farmer
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Joined: December 16th, 2002, 7:09 am

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April 30th, 2012, 9:20 am

I disagree, I think this is the right kind of guy.
 
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Anthis
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April 30th, 2012, 10:04 am

Arh, take it easy pal, its called mid-life crisis. Start worrying if you see yourself after 16 yo chicks. At your age, 19 or 18 and a half at worst, should be the minimum age.
 
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daveangel
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Joined: October 20th, 2003, 4:05 pm

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April 30th, 2012, 10:08 am

QuoteI don't want to fool myself so I know I cannot be an expert in quant finance and I don't even have an idea about C++ but my plan is to get credentials to get my foot in the industry or failing this to know a bit more so I can trade my own money. (Of course I'll never invest money+time for this course if I have non realistic chances of a career) Do you think I'm completely out of touch with reality? Any suggestions? not sure if its quant finance you enjoy or finance... if its the latter you should consider asset management rather than working for a bank which to be honest is a dead end anyway given Volker etc. Perhaps you can try a place like Bridgewater that may employ for your intellect and not your experience
Last edited by daveangel on April 29th, 2012, 10:00 pm, edited 1 time in total.
knowledge comes, wisdom lingers
 
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quantmeh
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April 30th, 2012, 4:13 pm

QuoteOriginally posted by: AnthisArh, take it easy pal, its called mid-life crisis. it's good, it may prevent retirement age devastation
 
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ashkar
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Joined: October 17th, 2011, 9:25 am

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May 1st, 2012, 12:35 pm

QuoteOriginally posted by: Arhs99Hi allI apologise in advance for the long message that will follow but I feel my situation is maybe less ordinary (don't they all feel the same?) and needs some more words to paint the picture. I studied for a PhD in Chemsitry and worked in pharma. I am not a believer of having one career in a lifetime especially when the rewards (not only financial but mainly this) are thin. I was, between a lot of other things, involved with online poker, quickly got over with the addiction/degenerate side of things (i.e. I ran goot) and eventually developed to a profitable player and still I am. I haven't become a millionaire but I've managed to turn my bank balance to positive numbers and then I thought it's a good idea to invest my savings on my own instead of paying another idiot (fund manager) to lose my money. I thought I can look into trading and maybe beat the learning curve by avoiding the marketing junk that promises riches to the fish since I saw all that in poker before. I opened a forex account but I never traded with any significant money since I realised that I cannot make any money. However my research led me here and I actually found it fascinating in the meantime reading about the markets, microstructure, price discovery and then martingales, stochastic calculus etc but also Economics (I forgot to mention that I enjoy making money as much as finding out how things work - the science of economics seems to be essential to understand how and why the world goes round)So I keep playing poker and working part-time in pharma research (more as a hobby now and for the social aspect) and studying Finance and not having a life and I'm thinking about the possibility of investing in a Msc course (Cass is one I am looking) and dare I suggest looking for a job in the industry. I don't want to fool myself so I know I cannot be an expert in quant finance and I don't even have an idea about C++ but my plan is to get credentials to get my foot in the industry or failing this to know a bit more so I can trade my own money. (Of course I'll never invest money+time for this course if I have non realistic chances of a career) Do you think I'm completely out of touch with reality? Any suggestions? Many thanksPS: Oh I forgot to say I'm 40 nnow.Its like you've just finished watching some wall street movie.
 
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prfj
Posts: 19
Joined: December 11th, 2011, 10:36 am

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May 1st, 2012, 2:32 pm

QuoteOriginally posted by: daveangelQuoteI don't want to fool myself so I know I cannot be an expert in quant finance and I don't even have an idea about C++ but my plan is to get credentials to get my foot in the industry or failing this to know a bit more so I can trade my own money. (Of course I'll never invest money+time for this course if I have non realistic chances of a career) Do you think I'm completely out of touch with reality? Any suggestions? not sure if its quant finance you enjoy or finance... if its the latter you should consider asset management rather than working for a bank which to be honest is a dead end anyway given Volker etc. Perhaps you can try a place like Bridgewater that may employ for your intellect and not your experienceAre there more places like Bridgewater? wow
 
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frolloos
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Joined: September 27th, 2007, 5:29 pm
Location: Netherlands

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May 1st, 2012, 6:50 pm

QuoteOriginally posted by: Arhs99Hi allI apologise in advance for the long message that will follow but I feel my situation is maybe less ordinary (don't they all feel the same?) and needs some more words to paint the picture. I studied for a PhD in Chemsitry and worked in pharma. I am not a believer of having one career in a lifetime especially when the rewards (not only financial but mainly this) are thin. I was, between a lot of other things, involved with online poker, quickly got over with the addiction/degenerate side of things (i.e. I ran goot) and eventually developed to a profitable player and still I am. I haven't become a millionaire but I've managed to turn my bank balance to positive numbers and then I thought it's a good idea to invest my savings on my own instead of paying another idiot (fund manager) to lose my money. I thought I can look into trading and maybe beat the learning curve by avoiding the marketing junk that promises riches to the fish since I saw all that in poker before. I opened a forex account but I never traded with any significant money since I realised that I cannot make any money. However my research led me here and I actually found it fascinating in the meantime reading about the markets, microstructure, price discovery and then martingales, stochastic calculus etc but also Economics (I forgot to mention that I enjoy making money as much as finding out how things work - the science of economics seems to be essential to understand how and why the world goes round)So I keep playing poker and working part-time in pharma research (more as a hobby now and for the social aspect) and studying Finance and not having a life and I'm thinking about the possibility of investing in a Msc course (Cass is one I am looking) and dare I suggest looking for a job in the industry. I don't want to fool myself so I know I cannot be an expert in quant finance and I don't even have an idea about C++ but my plan is to get credentials to get my foot in the industry or failing this to know a bit more so I can trade my own money. (Of course I'll never invest money+time for this course if I have non realistic chances of a career) Do you think I'm completely out of touch with reality? Any suggestions? Many thanksPS: Oh I forgot to say I'm 40 nnow.i started working in finance (buy-side) only 5 yrs ago, when i was 34, and i only have a master's degree. so i'd say you still have a chance with your chem phd. sell-side will be very tough at your age though + current environment, but fund managers and insurers might be interested in your skills.
 
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Arhs99
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Posts: 2
Joined: March 10th, 2012, 11:53 pm

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May 1st, 2012, 6:51 pm

Hey guysThank you for your replies. I am impressed and I really appreciate everyone's input."Midlife" (sadly) yes but "crisis" maybe not, at least as far as my "new career shot taking" is concerned. Because this is all about it. There is no pressure, or any delusion (hopefully). Like a good gambler, I'll estimate the odds, the reward, the cost at risk, ROR and make a cool decision without tilt, hope, belief ...Yeah sure if only it was that easy in life! Anyway I'll keep it cool and next step I'll talk with Cass and then make a decision. If positive, I'll keep you posted.Thanks againPS: @MattF: I play cash games only in a smaller UK site with average ratio fish:regs (most regs there play very unbalanced). Not many games and RB is almost nil but for me it's OK, I 4-table max (the old age lol). pm me if you want details
Last edited by Arhs99 on April 30th, 2012, 10:00 pm, edited 1 time in total.
 
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ArthurDent
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May 4th, 2012, 3:42 am

QuoteOriginally posted by: Arhs99the science of economics seems to be essential to understand how and why the world goes roundThe science of economics is as much required for the world to function as the science of astrology is required for sun to go around the earth.stay in pharma. stay out of school at 40.
 
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ArthurDent
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May 4th, 2012, 3:43 am

QuoteOriginally posted by: prfjAre there more places like Bridgewater? wowprfj- what is wow about bridgewater? the delusional founder and his 100 page opus on how to run a cult?i wonder what color koolade their cafeteria serves...
 
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daveangel
Posts: 17031
Joined: October 20th, 2003, 4:05 pm

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May 4th, 2012, 6:41 am

Quote i wonder what color koolade their cafeteria serves... green
knowledge comes, wisdom lingers
 
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prfj
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Joined: December 11th, 2011, 10:36 am

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May 4th, 2012, 10:48 am

QuoteOriginally posted by: ArthurDentQuoteOriginally posted by: prfjAre there more places like Bridgewater? wowprfj- what is wow about bridgewater? the delusional founder and his 100 page opus on how to run a cult?i wonder what color koolade their cafeteria serves...For some reason I love these awkward places compared to the straight-jacket factories. Especially when the fund is making billions.
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