Econometrics/Quant Econ Major for Buy-Side out of Undergrad?
Considering this major. Currently deciding between this and Stats. Would be minoring in CS as well. Would love to hear your thoughts!
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Would recommend statistics over economics, even if it's quant/econometrics focused. My areas of study are a mish-mash of the stuff you mentioned, and pure statistics is infinitely more useful. There is some overlap, but the application is different.
Thanks for the input. If you don't mind me asking, what type of fund are you with currently? I am more interested in fundamental value based investing than quant based research and am wondering if stats would be applicable to value/fundamental as much as to quant approaches? Also, would one have an edge in the industry with that particular skill set/knowledge? Thanks!
D
Fundamental equity, though haven't started FT yet. My area of academic study also includes the fundamental stuff, and that's really my bread and butter. The stats is just on the side, and is nice to know to be able to parse data sets. Nothing systematic/algorithmic.
I'm of the opinion that stats background is an incredibly worthy investment for even the fundamental space. Its usefulness will diminish as big data becomes more commoditized (some types of data in retail are already commoditized). Some value funds won't touch stats or data science at all, but they're likely losing an opportunity to extract alpha. Most data is not very useful, but there are likely still pockets of data out there that can aid you in putting together a thesis.
Blending the traditional stuff with data science isn't really novel anymore, and I'd imagine it's already standard for the sectors in which that data is most commoditized (as a function of how easily that information is aggregated/how important it is). If it doesn't constitute an edge, I see it, at the very least, as a requisite to keep pace with the market. There could be other applications that haven't been dreamt up yet as well.
+1 SB thanks a lot for the input!
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