I am currently taking the CQF, distance option.The course is ABOLUTELY EXCELLENT! OUTSTANDING! REMARKABLE!Course Structure:Dr. Wilmott did a great job structuring this course. In 8 modules (6 modules for the next July 2003 Class), we cover in depth an amazing number of concepts. As expected from Dr. Wilmott, the emphasis is on the intuitive understanding of the field of Quantitative Finance and its models. The modular structure is an excellent idea since it makes us go through related concepts by increasing order of complexity/refinement. When we see the Black Scholes PDE, we really see it in depth within 1 module: we do not get pieces here an there split between various different courses, as is traditionally done in Universities. The pace of the course is fast and in just 3 ½ months, we have already achieved a lot. I need to emphasize again that Dr. Wilmott does not try to cram concepts in our head, but want to help us understand how Quantitative Finance really works, what are the strength and weaknesses of the various approaches, where the models really break down and what can be done (or not!) to fix them. All the concepts are outlined by very concrete examples that we get to implement on Excel and VBA. Therefore, the course is as conceptual as it is practical: not only do you understand what to do, when to do it, but also how to do it. Every week we have exercises to do. They are designed to expand on the course by going in more detail into key concepts and get us more familiar. The exercises themselves are a very good learning experience. At the end of each module, you have a 3-hour take home exam. Personally, I do not think one exam a month is too much. It keeps up with the pace of the course. Dr. Riaz Ahmad designs the exercises and the examination and also gives us pre- and post-exam lectures. He is very knowledgeable and is a good teacher as well. The backbone of the course follows mostly Dr. Wilmott’s “Paul Wilmott Introduces Quantitative Finance” but also adds a lot of extras, especially thanks to the quality of the lecturing team.Lecturing Team:Dr. Wilmott has taught most of the classes. Dr. Wilmott is, of course, an exceptional lecturer. He has the rare gift of making any concept or model seem intuitively obvious. Now I understand why the Financial Times called him a “Cult Derivatives Lecturer”. Personally I would just call him a “Cult and Extremely Gifted Teacher”. We also had lectures by Dr. Staunton (co-author of “Advanced Financial Modelling Using Excel and VBA”, Dr. Ahn (probabilistic theory), Dr. Epstein (one of Dr. Wilmott’s former students, and now working as a Quant) and Espen Gaarder Haug (a.k.a “The Collector”… need I say more). I really enjoyed their lectures. For an example of what we saw in class with Espen Gaarder Haug, read the “Know Your Weapon” articles in the upcoming issues of Wilmott Mag. Distance Technology:If you plan to take the distance version of the course, here is what you need to know. Essentially, you watch the presentation as it occurs on the Internet using the Webex Technology. Simultaneously, you listen to the presentation on the phone, which enables to ask question during the course. Essentially, it is just like being in class (except for the occasional pub outings you get to go to when attending the course in London… I should definitively ask the 7 City team to webex those as well!!!). One adavantage of this is also that all the lectures are recorded so that you can review a lecture through the net from the comfort of your home. Even the notes written on the board by the lecturer can be printed a few days after the course.If you previously had bad experiences with Webex (as I did), don’t worry! The 7 City Team gets it to work with an extraordinary consistency. The credit goes to Jonathan Shaw who is doing a Gung Ho job to make sure we have as pleasant an course experience as the London delegates (except for the Pub outings mentioned above!…
) Out of around 21 lectures and sessions so far, only one had to be rerun due to Webex-related problems and it was rerun just for the 4 distance learners within two days of the original lecture. So the technology is not a problem: Jonathan makes it work7 City Team:I have already talked about Jonathan. He is not the only perfectionist within the 7 City Team. I also deal frequently with Paul Shaw, Commercial Director for 7 City, who oversees the course. The only thing I can say is that the course is wonderfully managed by very nice people. Jonathan and Paul’s professionalism, dedication and efficiency are extraordinary. It seems they are always there, week days, week nights, weekends, to ensure that the course runs smoothly. Do they ever take any rest? I doubt. Honestly, I have never seen such a degree of professionalism before. This is a very pleasant experience and very different from what we generally get in North-America. To Conclude:· A must do for anyone interested in or passionate about Quantitative Finance.· Outstanding lecturing team. Outstanding support from the 7 City Team. · Reliable distance technology (Thanks Jonathan!).·The course explains the heart of the theory and simultaneously converse the concrete implementation of taught concepts. · The course is as conceptual as it is practical: not only do you understand what to do, when to do it, but also how to do it. · You get more than knowledge… you get a real understanding of the field.· If Dr. Wilmott and 7 City team up again for a “CQF II” or another course, they can count on receiving my application!·Negative points: 0