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
点赞 0
评论 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

CentOS 下 MySQL 5.6 tar包安装

前世今生, 在上篇文章中,我使用的是编译安装,我也知道编译安装是最好的。 但是有时,make好慢,耽误使用。。 有没有更快的方式啊,在这里介绍一种比较快的方式,那就是直接用tar包安装。 ...

杨春炼 ⋅ 2016/08/06 ⋅ 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

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 ⋅ 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

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 ⋅ 8

Celery的一些社区资源-English

Community Links Tweet Celery Best Practices Author: Deni Bertovic | Content type: Article Understanding the new messaging frameworks with virtual backends [Kombu] Author: Superc......

openthings ⋅ 2015/05/29 ⋅ 0

插入记录时单引号的处理

由于Content, Title中可能包含单引号,直接使用sql的insert命令会报错,对此有两种处理方法,一种将单引号替换成两个单引号,第2种方法是使用存储过程。 表myBBS的格式定义如下: CREATE TAB...

晨曦之光 ⋅ 2012/03/09 ⋅ 0

CDS option简介,翠花与老张的那些事儿

在期权刚刚推出的时候,铺天盖地的都是期权;这几天CDS刚刚落地,又漫山遍野的都是CDS。人们总是喜欢谈论热闹的东西,但今天不妨我们有点前瞻性,看看写在CDS上的期权,就是CDS option,也叫...

Yupeng ⋅ 2016/10/03 ⋅ 0

9 本不错的免费 Java 书籍

本文旨在介绍一些最好的、能够帮助程序员全面掌握Java语言的书籍。这里介绍的书籍能够帮助不同水平的程序员学习丰富多彩的Java语言。所有这些书都可以免费下载。 为了迎合所有人的胃口,我们...

xyxzfj ⋅ 2013/02/25 ⋅ 12

没有更多内容

加载失败,请刷新页面

加载更多

下一页

数据结构与算法之双向链表

一、双向链表 1.双向链表的结点结构 typedef struct DualNode{ ElemType data; struct DualNode *prior; // 前驱结点 struct DualNode *next; // 后继结点}DualNode, *DuL...

aibinxiao ⋅ 23分钟前 ⋅ 0

五大最核心的大数据技术

大数据技术有5个核心部分,数据采集、数据存储、数据清洗、数据挖掘、数据可视化。关于这5个部分,有哪些核心技术?这些技术有哪些潜在价值?看完今天的文章就知道了。 大数据学习群:7165810...

董黎明 ⋅ 25分钟前 ⋅ 0

PhpStorm 头部注释、类注释和函数注释的设置

首先,PhpStorm中文件、类、函数等注释的设置在:setting-》Editor-》FIle and Code Template-》Includes下设置即可,其中方法的默认是这样的: /**${PARAM_DOC}#if (${TYPE_HINT} != "v...

nsns ⋅ 25分钟前 ⋅ 0

spring.net AOP

http://www.springframework.net/doc-latest/reference/html/aop-quickstart.html https://www.cnblogs.com/wujy/archive/2013/04/06/3003120.html...

whoisliang ⋅ 30分钟前 ⋅ 0

【HAVENT原创】创建 Dockerfile 生成新的镜像,并发布到 DockerHub

注意:Win7 与 Win10 的版本存在差异,Win7 版本使用 Docker Quickstart Terminal 进入控制台,Win10下面直接用管理员权限打开控制台或者 PowerShell 即可;另外 Win7 下面只能访问 C盘,/ap...

HAVENT ⋅ 30分钟前 ⋅ 0

pom.xml出现web.xml is missing ...解决方案

提示信息应该能看懂。也就是缺少了web.xml文件,<failOnMissingWebXml>被设置成true了。 搜索了一下,Stack Overflow上的答案解决了问题,分享一下。 目前被顶次数最多的回答原文如下: This...

源哥L ⋅ 31分钟前 ⋅ 0

js时间戳与日期格式之间相互转换

1. 将时间戳转换成日期格式 1 2 3 4 5 6 7 8 9 10 11 12 13 14 // 简单的一句代码 var date = new Date(时间戳); //获取一个时间对象 /** 1. 下面是获取时间日期的方法,需要什么样的格式自己...

Jack088 ⋅ 36分钟前 ⋅ 0

web添加log4j

添加xml配置log4j.properties # Global logging configuration---root日志设置#log4j.rootLogger=info,dailyRollingFile,stdoutlog4j.rootLogger=debug,stdout,dailyRollingFile---......

黄柳淞 ⋅ 37分钟前 ⋅ 0

如何解决生产环境宕机问题

写在前面:该篇宕机问题的排查难度远比上一篇(记一次解决线上OOM的心路历程)大的太多,上一篇中内存泄漏的问题是有迹可循的,本次的宕机在业务日志上没有任何征兆,另外本文有许多值得深挖...

寰宇01 ⋅ 49分钟前 ⋅ 0

Redis查漏补缺:最易错过的技术要点大扫盲

作者介绍 孤独烟,中国平安研发工程师,目前负责规则云平台架构设计以及需求研发工作。毕业后一直从事Java开发工作,在Web开发、架构设计上有多年的实战经验。在MySQL性能优化、JVM调优、分布...

kim_o ⋅ 50分钟前 ⋅ 0

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