Does it bug anyone else that they aren't a Quant?
I find it truly fascinating. Quants found ways to implement basic calculus concepts (integrals, differentials, stochastics), that I thought were extremely boring in my classroom, created mathematical models, and it has turned into a billion dollar industry. I remember spending weeks learning the Black-Scholes model, and basic Standard deviation to become a profitable options trader to make weekly income -- began to wish I majored in something math heavy as opposed to finance. (although I am happy where I'm at).
I still can't wrap my head around why quants even work for firms. If I had that brain-power I would develop my own algorithm via applied statistics and back test it. Maybe even sell that for a firm, and let them take it off you for millions. It's very funny, and sad at the same time. The average Joe thinks he has the edge by using trading-methods but meanwhile, quants are making hundreds of thousands of dollars for their firm by basic arbitrage, and scalping the bid-ask spread.
Nope.
I guess you're happy where you're at, can't hate on that!
Second this motion. I interviewed with many smaller Quant Trading Funds and interned for one over the summer before taking a job in REPE. The culture amongst quant-dominated firms fucking SUCKS. It's a bunch of school-shooter types who figured out a way to make money in the markets without ever interacting with anyone in person. Glad as hell I ended up where I did.
You act like anyone can become a Quant. Does the average person have perfect math SAT scores or can learn computational probability and stochastic processes? No. So not anyone can become a quant. If you're a math genius, maybe.
i have a friend (math major - Caltech) who is happened to working for a quant fund, hell he's already on the buy-side and made a lot of money. If i had the chance to choose again, probably i'm gonna follow his path (since i'm on his par's quantitative skill during high school years - and he got a medal in the national math olympiad), instead of trying to break into IB then hope to transfer to buy side one day.
I think you're associating quants with the end all be all to business acumen, which besides a few select couldn't be further from reality. Quants are good with numbers (hence the latin root: quant), but firms are much more than dealing with numbers. In fact, firms are more about people and relationships than they are about anything else. For a firm to grow you need clients, investors, employees, and strategic partnerships. Inside those relationships exist squabbles, complications, jealousy, politics, negotiations, sometimes lying and deceit. When I run into a quant in the break room, more often than not the interaction involves the quant nearly pissing himself having come in contact with another human being and ends with him muttering something unintelligible before scampering to his computer terminal.
Given the select few who are socially intelligible, there is no magic math behind their algorithms. Yes they can develop very impressive algorithms, but they all attempt to predict the market to a certain extent. The problem is that the market is so fluid that even if you spent your lifetime developing an algorithm that predicted the market perfectly, it would only last for a brief moment. Either 1.) The irrationality of other unintelligent investors blows up your system (which is most often the case), or 2.) You blow your own system up by investing in it. By executing on a minute pattern in the market, you have thus subjected that pattern to immense change affecting its predictability.
Not to mention the judgement errors associated with investing... almost equally as important as the data you have, is the person making decisions. Long story short, there are no perfect solutions, just knowledgable guesses.
I am jealous of all these quant people. They are so good with math, and can get a job this days fairly easily due to their intellect. All my friends who are engineers are getting such good internships, and will make a lot after college. I don't want to be failure. I should've taken a stab at these math-heavy majors.
The point is that even had you majored in math, you still wouldn't be able to get a job as a quant. Quants are only taken from the select few of the math majors, so it would remain up to your natural talent as to how realistic that career path would be.
Tldr: Just be yourself.
I wake up every morning and my first thought is "WTF WHY AM I NOT A QUANT! IT'S SUCH BULLSHIT!!!!!"
I definitely admire their ability in mathematics. Yet, the few "quants" I've met have the social skills and awkwardness of preteens. Not someone you'd want to grab a beer with. They're even worse with attractive women... Talk about analysis paralysis. I'm sure there are exceptions though and they'll probably get the last laugh if they figure out the panty dropping algorithm. In a word, NAH
This man said panty dropping algorithm 😭😭😭
IMO it just sounds like your just a money crazed kid. There are so many lucrative positions out there that will pay you a very similar salary or even the same. Quit complaining, put in your time and get to that level
not a quant but this is kind of exaggerated and derogatory
Not as much as watching Blacked and wishing I was black!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! UGHHHHHHHHHHH
Seriously tho wtf is this thread
No, I’m not smart enough nor care enough about math to try and go down that path.
www.nuclearphynance.com
Cringed at “phynance”
Used to love this place - pretty dead now. A lot of threads still have a goldmine of information in them. Was always hoping we'd see a quant tab on WSO since its so different than the other main groups represented WallStreetOasis.com any thoughts on this?
No, it doesn't bother me that i've had sex before
I still can't wrap my head around why quants even work for firms.
What makes you think Quants have good business acumen?
lol if you were good enough to be a quant you would be a quant. It's really a self-selecting process. Quants are the top 1% of people who are both interested and good at mathematics. You didn't pursue a quantitative major because you probably weren't smart enough/passionate enough. If you think you can cut it/want to be a quant you can still go to grad school.
I have a good number of childhood friends who became quants and these guys have been math competition champs since they were in middle school.
What am I missing here? They are generally very smart but realistically probably the lowest paid guys on my team in most years.
If you wanna be a quant go be a quant, why are you posting on an Internet forum full of high schoolers and college students?
But like others have said, being a math whiz isn’t the key to success in business. I’ve heard more billionaires say I don’t know shit about calculus than I can count
I don’t understand this website sometimes
Literally not once
TBH not really.
I did both my bachelor and master in mathematical finance and while I do consider myself to be fairly smart, I'm nowhere smart enough to be a quant. Besides that quants often "just" end up computing numbers and don't have to critically think about them and understand what they mean, or at least that's what I hear from some of my Uni friends who went into quant roles.
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