文档章节

What are the steps to becoming a quant? author: David Pethick

ludlows
 ludlows
发布于 2014/10/07 22:55
字数 664
阅读 9
收藏 0
Wow, this takes me back...

I had finished my Ph.D. (Atmospheric Physics) and landed my dream job. I looked around and realised that I had little in common with all of my new colleagues and quit science within a year. That's when I first heard the term "Quantitative Analyst". I didn't really understand what the job was, but a bunch of people seemed to want to talk to me and some of them were even willing to put me on a plane to come and see them. I eventually landed in the energy industry in Houston and had a great time over the next few years working with really smart people and making good money.

I'll try and answer some of your questions, but strongly recommend you have a read of this book. It has lots of different stories about how people entered the profession and it demonstrates there are lots of paths other than doing an Masters in Financial Engineering (or whatever they are calling it now-a-days).


Quant Types

* The math geek - you can throw anything at him and he will understand the math and build you a model in R or S-plus or some other obscure statistics analysis tool set that only he knows how to use.

* The hacker - loves finding patterns in data, lives and breathes correlations and tells his friends he is a prop trader. In reality, he sits next to a trader who ignores everything he says except the stuff that confirms the trader's pre-existing biases.

* The coder - takes the models built by the math geek and the hacker and turns them into tools used by different parts of the business. If he takes a wrong turn, ends up working in Risk Management (not that there is anything wrong with that...)

* The structurer - one of the most fun quant jobs. Working with the origination (sales) guys, structuring different packages of derivatives to create a new instrument. I spent most of my time as a quant doing this.


Education

If you don't have a Ph.D., then expect to have a lot of doors shut in your face. It's not impossible to get a gig as a quant without a Ph.D., just harder. This is just the inherent bias in the industry - I got one, so why should I hire anyone who didn't...

This is particularly true if you you don't have any experience. An alternative path is to develop a complementary skill (such as coding) and gradually shift into a front-office role by making yourself useful.

Skills

I won't talk in any detail about the hard skills, as they should be obvious. Math, coding and concise writing skills are all pretty darn important.

For most quants, the soft skills are where you will earn your money. Influence is key. Building a great pricing model is one thing, convincing a trader to use it to identify nice spread trades is completely another. If you think out of sample testing and running a shadow book is the way to achieve that then you have a lot to learn.

Attitude is critical. If you can't speak in a way that makes people listen, you are going to struggle. If you can't answer a yes or no question in a binary fashion, you are going to struggle. If you start sentences with the phrase "My hypothesis is..." you are going to struggle. This is a tough world full of people who believe they are smarter than every other person in the room. Equivocation is not the way to earn their respect.

It also helps to have a healthy attitude towards money. A trading floor is a great place to learn that relative wealth is a far more significant driver of your day-to-day happiness than absolute wealth. Learn to ignore the money or risk spending 364 days of every year being miserable and 1 day being relieved or furious.

Best of luck.

Dave P.

© 著作权归作者所有

共有 人打赏支持
ludlows
粉丝 0
博文 15
码字总数 4195
作品 0
海淀
程序员
所谓的quant是什么

翻译引用自 On Becoming a Quant by Mark Joshi,很经典的文章 quant是做什么的 quant的工作就是设计并实现金融的数学模型(主要采用计算机编程),包括衍生物定价,风险估价或预测市场行为等...

u012234115
2017/03/29
0
0
P quant与Q quant

一、Q Quant——衍生品定价 量化衍生品定价由Bachelier于1900年提出,他在其学位论文中首次将最基本同时也是极具影响力的随机过程——布朗运动,应用于期权的定价。但这一理论一直没有引起关...

JDquant
2017/08/23
0
0
CentOS 下 MySQL 5.7 编译安装

MySQL5.7主要特性: 1—更好的性能:对于多核CPU、固态硬盘、锁有着更好的优化,每秒100W QPS已不再是MySQL的追求,下个版本能否上200W QPS才是吾等用户更关心的 2—更好的InnoDB存储引擎 3—...

杨春炼
2016/07/18
197
2
x264源代码简单分析:宏块编码(Encode)部分

===================================================== H.264源代码分析文章列表: 【编码 - x264】 x264源代码简单分析:概述 x264源代码简单分析:x264命令行工具(x264.exe) x264源代码...

leixiaohua1020
2015/05/24
0
0
8 本免费的 Ruby 图书

1. Ruby Best Practices Website http://blog.rubybestpractices.com/ Author Gregory Brown Format PDF, HTML Pages 328 2. Programming Ruby - The Pragmatic Programmer's Guide Website ......

oschina
2013/01/07
5.7K
8

没有更多内容

加载失败,请刷新页面

加载更多

下一页

es6

在实际开发中,我们有时需要知道对象的所有属性,原生js给我们提供了一个很好的方法:Object.keys(),该方法返回一个数组 传入对象,返回属性名 var obj = {'a':'123','b':'345'};console.l...

不负好时光
19分钟前
0
0
叮!您收到一份超值Java基础入门资料!

摘要:Java语言有什么特点?如何最大效率的学习?深浅拷贝到底有何区别?阿里巴巴高级开发工程师为大家带来Java系统解读,带你掌握Java技术要领,突破重点难点,入门面向对象编程,以详细示例...

全部原谅
21分钟前
0
0
web.xml容器加载顺序

容器对于web.xml的加载过程是context-param >> listener >> fileter >> servlet

Aeroever
23分钟前
1
0
Docker容器日志查看与清理

1. 问题 docker容器日志导致主机磁盘空间满了。docker logs -f container_name噼里啪啦一大堆,很占用空间,不用的日志可以清理掉了。 2. 解决方法 2.1 找出Docker容器日志 在linux上,容器日...

muzi1994
24分钟前
0
0
J2Cache 和普通缓存框架有何不同,它解决了什么问题?

不少人看到 J2Cache 第一眼时,会认为这就是一个普普通通的缓存框架,和例如 Ehcache、Caffeine 、Spring Cache 之类的项目没什么区别,无非是造了一个新的轮子而已。事实上完全不是一回事!...

红薯
27分钟前
484
14

没有更多内容

加载失败,请刷新页面

加载更多

下一页

返回顶部
顶部