Search results

  1. bigbadwolf

    Cartel control of tech worker wages and job opportunities

    I wait with bated breath for them to be administered a slap on the wrist.
  2. bigbadwolf

    Quantitative finance masters comparison UK

    I've heard good things about it but I believe it's an evening program spread over two years.
  3. bigbadwolf

    Cartel control of tech worker wages and job opportunities

    http://pando.com/2014/03/22/revealed-apple-and-googles-wage-fixing-cartel-involved-dozens-more-companies-over-one-million-employees/
  4. bigbadwolf

    Which path to pursue without a solid math background?

    It's designed to be a feeder program for their own M.Sc. -- i.e., if someone turns up wanting to enrol in their master's but has no math background except A level math, they'll be instructed to complete the diploma first. No ranking MFE program will accept it.
  5. bigbadwolf

    Which path to pursue without a solid math background?

    You won't get into ranking programs with this diploma.
  6. bigbadwolf

    Quantitative finance masters comparison UK

    Oxford, Imperial maybe, LSE, .... But if you're looking for placement and visa afterwards, it's rather dicey.
  7. bigbadwolf

    Quantitative finance masters comparison UK

    Most of the programs you've listed are worthless and the subsequent job prospects are zilch. Sorry for my words.
  8. bigbadwolf

    University of Illinois at Urbana Champaign MSFE vs. University of Minnesota MFM

    The figure for 65% actually sounds plausible -- but I wouldn't be surprised if it's even lower. Likewise the initial salary of $75,000 is believable. I don't wish to comment any more on U of M.
  9. bigbadwolf

    Michigan MFE Michigan MFE has been closed down

    Presumably not enough applicants?
  10. bigbadwolf

    University of Illinois at Urbana Champaign MSFE vs. University of Minnesota MFM

    I don't know what the fees currently are for these two programs. U of M just cross off your list immediately -- you're wasting your time and money, converting hope and cash into dust and ash. With regard to UIUC, ask for placement rates, try to get a handle on where their graduates are going...
  11. bigbadwolf

    Presentation: 11 Reasons Why I Will Never Hire You

    Though I have to say (with the utmost diffidence) that I have seen variants of this before (firm handshake, thank you note, finding out about the interviewer's company, suitably formal attire).
  12. bigbadwolf

    University of Illinois at Urbana Champaign MSFE vs. University of Minnesota MFM

    Something to keep in mind a propos the USA: you never get more than you pay for (though you may end up getting a great deal less in this nation of con men and hucksters). U of M is inexpensive for a reason: the program sucks. I doubt they can arrange decent internships or placements. Minneapolis...
  13. bigbadwolf

    Columbia MFE Columbia MFE Admission Discussion

    On an individual basis, personal preparation gives an edge; on a university basis, academic program and career services gives a batch an edge; but the poor level of placements as a whole is a function only of a moribund job market. Or as another poster pointed out a week back, the jobs that are...
  14. bigbadwolf

    Chances of getting into a top MSFE program

    Then just get it out of the way to remove any lingering doubts with an admissions committee.
  15. bigbadwolf

    Chances of getting into a top MSFE program

    If you're worried about the TOEFL, you shouldn't even waste your time applying to a leading MFE program. Your communication skills will be crucially important once you finish any MFE program.
  16. bigbadwolf

    Career advice for students not from top schools

    Agreed. Or go to a non-top school and turn hope and cash into dust and ash.
  17. bigbadwolf

    View of English MFE Programs

    Not a question of prestige. Oxford and Cambridge have cachet. The issues are 1) bias against non-US trained because of a feeling they're not trained for the US market and 2) lack of an alumni network. In addition, applying from abroad is always more difficult than applying from within a country...
  18. bigbadwolf

    No College but lots of Book Reading?

    Access to their lectures, yes, but AFAIK, you can't earn an online math degree from MIT. The situation is very different to the UK, where you could (can?) earn credits from the Open University and during the final year can transfer to a proper university. Or you could (can?) earn an OU degree...
  19. bigbadwolf

    No College but lots of Book Reading?

    Seems neither is offering an online math degree. Is anyone offering an online math degree in the US?
  20. bigbadwolf

    No College but lots of Book Reading?

    They're indispensable for learning how to think and talk like a mathematician. "Quant," on the other hand, is a "floating signifier" -- it doesn't have a time-invariant definition. The financial world is continuing to change -- and therefore so too are the job categories.
  21. bigbadwolf

    No College but lots of Book Reading?

    It isn't. Overpriced US "education" is one big con. You can cover calc 1,2,3, ODE, linear algebra, basic probability by yourself without any disadvantage. Where you will start stumbling is the upper-division theory-heavy courses like real analysis. At its best, formal education means a gifted...
  22. bigbadwolf

    No College but lots of Book Reading?

    Not enough by way of course offerings. In decades past they've had courses on Galois theory and differential geometry. You can learn it in an incomplete fashion -- but to do it properly you need the prof to test you and to point out the flaws and holes in your reasoning (as shown in your...
  23. bigbadwolf

    No College but lots of Book Reading?

    The hurdle is getting past HR -- their computers, their algorithms, and the dullards who work there. Also, even if you get past them and are hired, the next place you apply to will still look at your application askance -- it will be unconventional. People doing the hiring like to play it safe...
  24. bigbadwolf

    No College but lots of Book Reading?

    Assuming you're serious, what's your math background right now? All the serious posters on this forum are autodidacts to varying extents -- they've learnt to read and study by themselves. But a formal structured academic program -- if done right -- does things one can't do by oneself. There's...
  25. bigbadwolf

    COMPARE Harvard CSE vs Columbia MFE vs MIT SM Operations Research

    True. Over the years there have been at least two threads on this forum (to my knowledge) discussing whether Columbia's copious offerings are not cheapening their "brand name." In your position I'd probably opt for MIT.
  26. bigbadwolf

    COMPARE Harvard CSE vs Columbia MFE vs MIT SM Operations Research

    Harvard is over-rated -- but that's what having a "brand name" means (i.e., a rep out of proportion to one's actual strength in teaching, research, or quality of degree).
  27. bigbadwolf

    Suicidal bankers

    http://www.theatlantic.com/business/archive/2014/02/the-woes-of-wall-street-why-young-bankers-are-so-miserable/283927/#ixzz2tyoF1TeF
  28. bigbadwolf

    Suicidal bankers

    This could be the subject of an extended discussion since I've been giving some thought to this. Finance has some tangential and tenuous connection to the real world (otherwise we may as well play the board game Monopoly). It's that real world -- peak oil and other disturbing things -- that's...
  29. bigbadwolf

    Suicidal bankers

    I think you're right. People are trying to equate these banker suicides to 1929, when (supposedly) many in Wall Street hurled themselves from ledges. In my opinion there will be another global financial implosion dwarfing that of 2008, and its epicentre will be the sagging USA. At that time we...
  30. bigbadwolf

    Suicidal bankers

    My question is: Is the figure really an anomaly? Or given that there are hundreds of thousands of people in finance, is the figure for suicides about usual? Are people trying to connect non-existent dots?
  31. bigbadwolf

    Suicidal bankers

    Is this the norm? http://intellihub.com/8th-international-banker-die-month-jumps-building-china/
  32. bigbadwolf

    Would the CFA strengthen my application?

    It's only for b-schools, depts of finance and (to a lesser degree) depts of economics. Otherwise your figures are correct.
  33. bigbadwolf

    PhD Math

    Foolish question.
  34. bigbadwolf

    Competitive advantage of HFT

    Article in the Atlantic Monthly.
  35. bigbadwolf

    The steampunk future

    Too much dumped on the market too fast. With regard to shale oil, the US might peak by the end of this year -- and the fall-off will probably be rapid. We're not going back to the era of the Flintstones. One doesn't have to be a doom-and-gloomer to take a hard-eyed look at the energy future...
  36. bigbadwolf

    The steampunk future

    They're being pursued because renewables like wind, solar, and hydro can't take up the increasing slack being produced by the declining super-fields. Shale is a mirage in any case. In addition, the renewables depend on some assistance from fossil fuels for building and maintenance. And other...
  37. bigbadwolf

    Lebesgue Integral and Measure Theory for an undergraduate?

    The grad programs, where there's a big disconnect with the undergrad programs and many of the students come from abroad. It's an uneasy welding together of a 19th century English undergrad humanistic education (hence the stupid course requirements of lit, history and other baloney for science...
  38. bigbadwolf

    Lebesgue Integral and Measure Theory for an undergraduate?

    In the US system they keep tediously repeating the same material again and again. The best math undergrad students have typically taken AP calc, and at the BC level rather than the AB level. So they're spared the first two semesters of calc. Vector calc is what they'll start with followed by a...
  39. bigbadwolf

    Lebesgue Integral and Measure Theory for an undergraduate?

    In England, 18. But the undergrads are coming with "A" levels in pure math and one extra math (applied math or further math). They're already competent at differential and integral calculus. If they're not taking analysis in their first year, definitely in their second. Universities like Oxford...
  40. bigbadwolf

    Lebesgue Integral and Measure Theory for an undergraduate?

    There's nothing inherently difficult about it. It's just another quirk of the US system that it's consigned to the graduate curriculum.
  41. bigbadwolf

    The steampunk future

    He probably doesn't -- but it seems to me it's beside the point. The point he's made more than once is how we'll get by when the huge infrastructure needed to manufacture and support the use of advanced electronics is not around (manufacturing facilities for chips, trans-Pacific supply chains...
  42. bigbadwolf

    The steampunk future

    Thought-provoking essay by the Archdruid.
  43. bigbadwolf

    MFE-MSFM Class of 2013

    The Technion is Israel's MIT. It may be that Israelis are not applying to these MFE programs for some reason but US admissions committees should surely know the reputation of the Technion.
  44. bigbadwolf

    Numerical Analysis

    A review of the book in BAMS: http://projecteuclid.org/download/pdf_1/euclid.bams/1183544086
  45. bigbadwolf

    Numerical Analysis

    Then you're missing H.H. Goldstine's A History of Numerical Analysis from the 16th through the 19th Century, published in 1977. Some used copies are floating around. The book should be acquired, stored in an armored vault and guarded with a shotgun. Easily worth its weight in silver, if not in gold.
  46. bigbadwolf

    QuantNet Best-selling Quant Books of 2013

    It's an abridged version of the superior 2-volume "Mathematics and Plausible Reasoning" by the same author.
  47. bigbadwolf

    SEC policy advisor: Trading is Art of War, not physics.

    "Help to Buy" sums up the whole of the British government's economic policy. My sister-in-law has just bought a poky little terraced house in Ealing for 400,000 pounds. You can't rent forever.
  48. bigbadwolf

    SEC policy advisor: Trading is Art of War, not physics.

    There was a historically informed article in LRB a couple of weeks back: http://www.lrb.co.uk/v36/n01/james-meek/where-will-we-live
  49. bigbadwolf

    SEC policy advisor: Trading is Art of War, not physics.

    British economic policy has only one goal: keep up house prices in London and the home counties.
  50. bigbadwolf

    SEC policy advisor: Trading is Art of War, not physics.

    You have to be earning a merchant banker's salary and bonus to afford even a terraced house in London.
  51. bigbadwolf

    High Asian test scores

    Interesting. http://educationrealist.wordpress.com/2013/10/08/asian-immigrants-and-what-no-one-mentions-aloud/
  52. bigbadwolf

    UIUC MFE: Tier 1 or Tier 2 ?

    In the USA as a general rule, you never get more than what you pay for -- which means you can end up getting less than what you pay for if you're unwary. The cheaper programs should have alarm bells going off in your head -- why are they cheaper? The people flogging the programs are keenly aware...
  53. bigbadwolf

    University of Hertfordshire -Proprietary Trading MSc

    Designed to lure in foreign students (locals won't be deceived). U of Hertfordshire used to be Hatfield Polytechnic until Major bumped up all the polys and made them unis.
  54. bigbadwolf

    Necessary to learn C#?

    Off on a tangent but we may need to re-learn these old skills again as our present era draws to a close. Some of those old skills will be calculating without computers: http://thearchdruidreport.blogspot.com/2014/01/seven-sustainable-technologies.html
  55. bigbadwolf

    Necessary to learn C#?

    An old friend of mine wrote this:
  56. bigbadwolf

    Data Structures in C

    No. CLRS is probably the book for that.
  57. bigbadwolf

    Data Structures in C

    Both Amazon and abebooks have copies for sale. Noel Kalicharan's Data Structures in C is another possibility but in my opinion not so good.
  58. bigbadwolf

    Data Structures in C

    Yes. The top book, the best book -- and one that probably no-one here knows about -- is Reema Thareja's Data Structures Using C, published by Oxford in India. First let me start with the bad points. 1) The paper used isn't great, 2) You have to check every page to see it's not missing (I...
  59. bigbadwolf

    High IQ problem

    I'm talking of enlisted men.
  60. bigbadwolf

    Data Structures in C

    So-so. Usable but verbose, not really that well-organised.
  61. bigbadwolf

    Apartment in Lower East Side

    There's definitely an argument to be made for a bijective correspondence. There's this dandy technique of fitting 13 people to 12 rooms in such a way that each has his own room, so perhaps the same can be done with four people and three rooms:
  62. bigbadwolf

    Apartment in Lower East Side

    It's become so over the years. Even sharing an apartment can be problematic -- turf wars over the common areas, who does the cleaning, bringing over guests, maintaining the place generally, getting the rent cheque mailed on time, etc.
  63. bigbadwolf

    MSc. Theoretical Physics or Computer Science

    If it's an MSc for those who already have a BSc in computing, then there will be courses in things like compiler design, computability theory, complexity theory, etc. -- none of which you really need in QF. If it's one of those conversion course MScs, then the programming courses might -- just...
  64. bigbadwolf

    MSc. Theoretical Physics or Computer Science

    From the stance of QF these courses are a monumental waste of time. I was going to say the same things Daniel Duffy is. What one interested in QF should be doing is mastering basic skills really well. Using sheaf cohomology isn't one of them. And just taking all these courses will merely addle...
  65. bigbadwolf

    Apartment in Lower East Side

    Off topic (OP, please excuse me), but the story goes that when Onassis was starting out as a young man, he used to rent out his bed for the time he wasn't using it.
  66. bigbadwolf

    Travails of the PhD

    The article is about humanities PhDs -- where to nick a phrase from Dante, it really is a case of "abandon hope, all ye who enter here." The situation is probably better for PhDs in the exact sciences -- but not much. There's a huge mismatch between supply and demand. And we should keep in mind...
  67. bigbadwolf

    Travails of the PhD

    Foreign PhD students in the US almost invariably have teaching assistantships and I think so do US students (at least in the sciences). But the academic job market is changing beyond all recognition -- few tenure-track openings and red-hot competition for the few that there are, teaching moving...
  68. bigbadwolf

    Travails of the PhD

    The PhDs being discussed here are those in the humanities but the points apply mutatis mutandis to those in the exact sciences as well. http://theprofessorisin.com/2014/01/13/who-is-us-thoughts-on-the-mla/
  69. bigbadwolf

    List of Wall Street themed movies

    Another review of The Wolf of Wall Street:
  70. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    Not to quibble but while I've argued they're well-written, I haven't said they're overly positive. Were I to engage in damage limitation, I couldn't write better reviews. Effective damage limitation means one has to acknowledge the points of the critics -- but then argue that they've been...
  71. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    Personally I'd put Rutgers and UCLA as 2nd tier and Minnesota as not even that. The situation has become like law schools, where the majority of schools are lying about placements and starting salaries. Not blaming anyone, mind: the incentive to tell the unvarnished truth is non-existent in this...
  72. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    Baruch, CMU, Cornell, Princeton, MIT, et cetera are all good. The only one I've spoken against is Minnesota. With regard to Toronto, I've just wondered at the spate of well-worded positive reviews that got posted in the wake of the OP's scathing review.
  73. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    The dividing line is somewhat arbitrary.
  74. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    They don't have the staff required for a serious program. And Minneapolis is a nothing place where quant jobs mostly don't exist. The real placement rates can't be what they say they are. The program -- I use the term loosely -- is designed to take the money of unwitting foreign students who...
  75. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    Don't know about the U of Washington but agree with you about the U of Minnesota, which for years I've been saying is a complete con.
  76. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    The posts written in favor of UoT's MMF are so well written I'm wondering if they're part of an orchestrated response to the OP as damage limitation.
  77. bigbadwolf

    Predicting the market?

    I'm not saying your stance is devoid of merit but why would you want a place as a professional in finance if that is your outlook? The unspoken assumption of finance professionals is that there are underlying patterns.
  78. bigbadwolf

    List of Wall Street themed movies

    A review of the film in the New Yorker.
  79. bigbadwolf

    List of Wall Street themed movies

    I know there's a film thread here somewhere but I can't seem to find it. Here's a review of the recent The Wolf of Wall Street, written by a daughter of some mini-me Gordon Gekko.
  80. bigbadwolf

    Forecasts for 2013

    Dmitry's forecast for 2014:
  81. bigbadwolf

    Mathematics for quantitative finance (Reitano)

    Pure math never tells the physics and engineering people they've been wrong -- in practice it always invents justifications for what they've invented and used on an ad-hoc basis. The Dirac delta function and the subsequent theory of distributions is a prime example. Feynman's condescending...
  82. bigbadwolf

    how many words do I need?

    Not arguing for its own sake but a good essay is one which an admissions officer first skims with a glazed and bored eye (it really is tedious going through hundreds of mechanically produced essays written with the same faux enthusiasm and tired cliches), then realises there's something...
  83. bigbadwolf

    No more school books? No more notepads? Finally! $1,000??

    Bad analogy. Newspapers are ephemeral. If you ever get on the London Tube, the carriages are awash with copies of the Sun and Daily Mail. The same charge of ephemerality can be leveled against the garbage written by Tom Friedman and Dan Brown. Good books are forever, or at least for decades and...
  84. bigbadwolf

    No more school books? No more notepads? Finally! $1,000??

    And before them 5 1/4 inch floppies. None of this modern recording technology lasts. On the other hand, the school algebra book by Hall and Knight, which I used to teach my son (and which I grew up on myself) was published in 1899.
  85. bigbadwolf

    how many words do I need?

    Silly question. What have you got to say? Say it, then trim the excess, tighten the structure, improve the flow and logic. Look at models of elegance and terseness like Bacon's essays.
  86. bigbadwolf

    No more school books? No more notepads? Finally! $1,000??

    The more primitive the technology, the more resilient it is. A century from now, if humans are still around, books will be there. I doubt any of this new-fangled technology will survive.
  87. bigbadwolf

    Mathematics for quantitative finance (Reitano)

    Didn't say it is badly written -- it seems to be written in the same slick style of pure math books -- definition-lemma-theorem-corollary. It's stupidly written. That style and that content is just the thing you don't need. Any time you hear terms like "sigma algebra," "Banach space," and so on...
  88. bigbadwolf

    Mathematics for quantitative finance (Reitano)

    Avoid the book. It is stupidly written. Get hold of books like Dan Stefanica's Primer for the Math of Financial Engineering, Luenberger's Investment Science, and Wilmott's Intro to Quant Finance.
  89. bigbadwolf

    Self-Study Outline

    There is another more controversial way of solving it. A state legislature (Indiana? Illinois?) attempted in the late 19th century to legislate the value of pi as 3. Suppose they had also legislated the value of e as 2. The question would then be to determine whether 2^3 was greater than 3^2.
  90. bigbadwolf

    Self-Study Outline

    It can be done more easily the way I'm suggesting, where pi/e and ln pi have to be compared. Just take the two corresponding functions x/e and ln x. Note that both coincide in value at x = e. Observe that the derivative of x/e is 1/e and derivative of ln x (for x > e) is 1/x; observe that for x>...
  91. bigbadwolf

    The late, great American WASP

    Interesting article in the WSJ (and I'm surprised they published it):
  92. bigbadwolf

    Self-Study Outline

    Well, if someone has really mastered "A" level math and further math, he or she should be able to do this or sketch a line of reasoning. The interviewers are trying to distinguish the sheep from the goats.
  93. bigbadwolf

    Self-Study Outline

    Going off-topic but this question has been asked at Oxford entrance interviews for undergrads. I "solved" it in a couple of minutes: take natural log on both sides and compare pi and e.ln pi. pi can be rewritten as e.(pi/e), which means we're essentially comparing pi/e and ln pi. A simple calc...
  94. bigbadwolf

    Self-Study Outline

    The process should be enjoyed, not just getting to the destination post-haste, breathlessly, and with only superficial mastery. I'd recommend a careful reading of Herrigel's Zen in the Art of Archery for starters, a book I read eons ago when the world was young. A synoposis can be found here:
  95. bigbadwolf

    Self-Study Outline

    Less haste, more speed. Aim to go slowly. Go for the older books which are now out of print and which have been erased from collective consciousness. For coding, start with C. Again, look for the older books that are now mostly out of print.
  96. bigbadwolf

    Why Americans don't study engineering

    The Chinese are falling behind the Americans: http://www.theonion.com/articles/report-chinese-thirdgraders-falling-behind-us-high,31464/
  97. bigbadwolf

    White collar Hunger Games

    Interesting article in yesterday's Guardian on work and pay conditions for retail bank employees in Britain:
  98. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    Mechanics is one of the high points of Western civilisation, the ur-science par excellence. It grieves me to see it handled in mercenary fashion at American universities. But I digress: the point is the way in which serious subjects -- including stochastic calculus and coding -- are handled in...
  99. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    What you mean is the book was assigned as reference and you had a week (or three lectures) devoted to Lagrangian dynamics, and the same one week for each of Hamiltonian dynamics, Hamilton-Jacobi theory, rigid body dynamics and so on.
  100. bigbadwolf

    Why Americans don't study engineering

    It was a nod to the counterculture of the era, which was sick and tired of bourgeois hypocrisy and double standards. Of course there has to be middle-class security and affluence to be had for the taking before you opt to "rebel" against it. That era is gone and today's insecure and indebted...
  101. bigbadwolf

    Why Americans don't study engineering

    I agree. Only a liberal arts graduate would think it's possible. To these types all higher math is just "calculus" (something that terrorises them). One topic which some of us were discussing in desultory fashion is that STEM types don't get laid. Something to do with their single-minded focus...
  102. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    No problem with that: it's the same in math, the same in physics. The difference is that while, say, in grad school in math or physics, the students have seen the material before in more elementary fashion. The grad algebra course (or the grad mechanics course) assumes you've already taken an...
  103. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    I agree. Ah, now there's the rub. All these things are being force-fed at an undigestible rate. They're being covered superficially. Too much too fast, and usually too superficially to be used with dexterity. Statistical theory by itself can be -- and is -- a master's degree in itself. Same...
  104. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    The rankings are based on the "information" the programs supply. Since telling the truth often runs counter to the interests of those behind the programs (i.e., making money), they don't. I'd not be surprised if even some of the student reviews are not authentic. Information on placement rates...
  105. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    Another bum program exposed.
  106. bigbadwolf

    Avoid this U of Toronto MMF program: SCAM

    There are other such programs, at least one of which is on Quantnet's list of top 25 programs. Postscript: So is Toronto, I just noticed. So much for rankings.
  107. bigbadwolf

    Why Americans don't study engineering

    Dubliners is a bunch of short stories, and designed to give a flavor of Dublin. Portrait is a Bildungsroman written by an Irishman (just as Of Human Bondage is a Bildungsroman written by an Englishman). Ulysses and Finnegan's Wake just seem like abstruse and empty literary virtuosity -- "See how...
  108. bigbadwolf

    Why Americans don't study engineering

    I managed Portrait of the Artist as a Young Man. I managed Dubliners. I threw up my hands with Ulysses and Finnegan's Wake. "History is bunk" (Henry Ford), and cited many times in Huxley's Brave New World.
  109. bigbadwolf

    Why Americans don't study engineering

    Article by Ted Rall.
  110. bigbadwolf

    The Python that ate your job

    Amusing essay: http://www.oftwominds.com/blogdec13/Python-ate-job12-13.html
  111. bigbadwolf

    MOOCs

    I agree with your logic. I don't see much of a difference between 300-student classes and MOOCs. They can probably each teach basic courses (such as calc and college algebra) equally poorly. For more advanced courses I think there may be a problem -- more interaction is an ideal, particularly...
  112. bigbadwolf

    MOOCs

    Au contraire, mon ami: the long-term intention is to have MOOCs replace traditional courses. That's the idea. And while Coursera, Udacity, etc., are free right now, the idea is that eventually they'll charge for their offerings. Though thinking about this a bit more, you are technically correct...
  113. bigbadwolf

    MOOCs

    Standardised low-quality junk food for the mind. Would you like a coke with your order, sir? Would you like to biggie size it?
  114. bigbadwolf

    COMPARE UIUC MFE vs U of CHICAGO MSFM

    That's how they get tenure. But they get corralled into teaching, which is often something they're no good at. And leaving aside a handful of places (Berkeley, Princeton, Chicago, and maybe three or four others), the math department's raison d'etre is teaching "calculus to morons." In this...
  115. bigbadwolf

    COMPARE UIUC MFE vs U of CHICAGO MSFM

    I don't understand the "hence" part. There are different kinds of thinking involved in math and quant finance -- unless it's very applied math like numerical analysis and optimisation. The math is the precise definition-lemma-theorem-corollary style; the quant finance is heuristic and focused...
  116. bigbadwolf

    COMPARE UIUC MFE vs U of CHICAGO MSFM

    Meaningless criterion. Quant math isn't research math. Carnegie-Mellon isn't on the radar screen with regard to its math department but has one of the strongest MFE programs around. Same for Baruch. Conversely, universities with strong math departments can (and frequently do) have shitty MFE...
  117. bigbadwolf

    High IQ problem

    It's not normally distributed -- but then it's meant only to sift out only the most promising. You do have a valid point that practice and innate ability are key, as in most everything else (which is why an IQ score by itself doesn't mean much except as an abstract potential).
  118. bigbadwolf

    High IQ problem

    Judit is the genius. A combination of innate ability and systematic training (the father is a genius of a teacher). We were having a discussion of this on a chess forum a couple of years back: my contention was that Hungarian Jews are the brightest ethnic group in the world (John von Neumann is...
  119. bigbadwolf

    High IQ problem

    I was thinking more of the math subject GRE (for admission to grad school in math), where of course you have to know your stuff -- but you have to be mentally agile as well. Or substitute something else if you wish -- like the Putnam or the Cambridge Part III exams.
  120. bigbadwolf

    High IQ problem

    You do but flatter me. I'm not in that league. But I have mixed with people vastly more capable than myself and I know there's an inherent difference. No they can't. As with any of the IQ tests, scores at the SAT/ACT/GRE can be improved by practice up to a certain limit. One can approach that...
  121. bigbadwolf

    High IQ problem

    The universities do it for them (in terms of taking people with high SATs, ACTs and GREs). And a quant/coding interview serves as an ersatz IQ test: the brainteasers and other problems posed test agility of mind and speed of response.
  122. bigbadwolf

    High IQ problem

    I don't think there's an agreed-on definition of "intelligence" -- so the IQ can't be a bad measure of it since it's undefined, vague, and fuzzy. The IQ is what you get when you take a particular test. Does it matter? It seems to matter to the US army, which has a cutoff of 85: they found it's...
  123. bigbadwolf

    High IQ problem

    If the others are quants, their IQs will probably be in the same range as well. My theory is that below a certain threshold (IQ 125?, IQ 130?), abstract thought isn't possible and only comes into its own after 140, or maybe 150.
  124. bigbadwolf

    Help on personal statement

    Difficult to do in a language that's not your mother tongue. Try to get hold of a native English speaker, convey your ideas to him, and then have him or her put it in faultless English.
  125. bigbadwolf

    Help on personal statement

    A cursory glance only reveals one spelling mistake but a plethora of grammar and usage mistakes. That's not the root problem, which is that you're not a native English speaker and your limited command is neither fluent nor idiomatic. Other than that, your personal statement is cliched and unfocused.
  126. bigbadwolf

    Need some advice for buying stochastic calculus textbook (Math student).

    In that case, also take a look at Sean Dineen's Probability Theory in Finance.
  127. bigbadwolf

    Need some advice for buying stochastic calculus textbook (Math student).

    Haven't seen Chung and Williams. Karatzas and Shreve and Revuz and Yor are standard monographs on stochastic analysis but turgid to read. Karatzas and Shreve is maybe a bit easier than Revuz and Yor. If you're talking from the viewpoint of finance, these books are going way too far and way too...
  128. bigbadwolf

    Advice needed. Thanks.

    I agree. 'Course this takes time. The slender exposure to the B-S PDE and the Crank-Nicolson method (and maybe other finite difference methods) is neither here nor there.
  129. bigbadwolf

    Advice needed. Thanks.

    Don't know about high level -- maybe if you're looking at Sobolev spaces and techniques from Hilbert space theory. But it does need time. I think typical MFE programs have one course on the Black-Scholes PDE, with a bare minimum of numerical methods to solve it. The same is true for stochastic...
  130. bigbadwolf

    Ph.d math finance in UK or USA

    *Snort of derision* -- to earn the PhD in the UK in three years, you have to hit the ground running. I've known many doctoral students whose grant money ran out after three years but who were still years away from producing a doctoral dissertation that would pass muster. If you're planning to do...
  131. bigbadwolf

    Coding behind the ACA website

    My guess is that the bozos at the helm of the company are a bunch of empty suits who don't know the first thing about coding. And they are liaising with a bunch of empty suits in the US government who also know nothing about coding. All the talk about working "24/7" to rectify the mistakes is so...
  132. bigbadwolf

    Coding behind the ACA website

    http://www.washingtonpost.com/politics/health-care-web-sites-lead-contractor-employs-executives-from-troubled-it-company/2013/11/15/6e107e2e-487a-11e3-a196-3544a03c2351_story_3.html
  133. bigbadwolf

    Wall Street isn't worth it

    There was a reason the US went off it: in the late '60s the current account deficits the country was incurring, and its loss of competitive position, convinced foreign holders of dollars that the currency might not hold its value. So they started cashing in dollars for gold. US gold reserves...
  134. bigbadwolf

    financial engineering programme

    Never heard of it but I'm impressed with the wording on their site. Looks like their MFE is almost free: http://master.epfl.ch/financialissues But hey, that's Europe and not the venal skin-you-alive USA.
  135. bigbadwolf

    Wall Street isn't worth it

    Persuasive essay in Jacobin.
  136. bigbadwolf

    "Prestige" of University where gained PhD

    This is patently not what I mean. What is the knowledge base and skill set every coder should have, regardless of what he works on? We have some idea of this in math -- hence the PhD qualifying exams. A PhD student who hasn't got real and complex analysis, algebra, and topology under his belt...
  137. bigbadwolf

    "Prestige" of University where gained PhD

    These are good and valid points. But the problem as I see it is that no-one has explicitly defined what coding competency is. In contrast, it can be defined for large chunks of math and for physics. If someone would bother to define it, then a road map could be constructed to get there. Just...
  138. bigbadwolf

    "Prestige" of University where gained PhD

    Neither beneficial nor detrimental -- just irrelevant. An acquaintance of mine completed a B.A. and part III in math from Cambridge, then completed a PhD in geometric topology from Liverpool. He just never cited his PhD when working in the City. The world of Donaldson and Witten is a world...
  139. bigbadwolf

    How to get a non-quant up to speed?

    But today those senior managers need to understand the world of coding -- they need to have done coding at some point in their careers.
  140. bigbadwolf

    How to get a non-quant up to speed?

    How minimal? Specify. A personal mentor with genuine insight. And some insightful books. No matter how you specify "minimal," it's going to take time, effort, good books, and at least one good teacher. Kahn, MOOCs, TED won't do the trick -- unless you already know what you're looking for. Even...
  141. bigbadwolf

    Request for good book on Intermediate level Probability

    How could you take two undergrad courses on probability with neither of them being calc-based? An intro probability course at the undergrad level is always calc-based. And the Ruppert book is not difficult, as the previous poster pointed out.
  142. bigbadwolf

    Boston MSMFT Boston University Mathematical Finance PhD

    True; that's the Faustian Pact between universities and PhD students. But from the way you describe your program it seems to have been hurriedly cobbled together.
  143. bigbadwolf

    Boston MSMFT Boston University Mathematical Finance PhD

    *Sigh* -- sounds like another third-rate p.o.s. program cynically and quickly set up on a shoestring budget to make a bit of quick dosh.
  144. bigbadwolf

    Data structures vs Stochastic processes

    It's pointers you want to learn to use with dexterity -- that's where C and C++ derive their power from. When you use "self-referential structures" in C/C++ to build linked lists, stacks, queues, trees, and so on, you have to use pointers with dexterity. That's a skill you want. You won't pick...
  145. bigbadwolf

    Data structures vs Stochastic processes

    Then I'd toss a coin. If it was C/C++ based, I'd go for the structures and algos course. There are many C++ courses around but they're not going into any great depth and most of the "deep" books I see on C and C++ were written several years ago (i.e., they suggest going into depth in C/C++ is...
  146. bigbadwolf

    Data structures vs Stochastic processes

    What's the language for the structures and algos course?
  147. bigbadwolf

    Winter is coming

    Winter is coming
  148. bigbadwolf

    which school do you think will accept me?

    Juris Doctor (law degree).
  149. bigbadwolf

    career change

    It doesn't get discussed on forums like this but the job market of ten years back isn't going to return. And even if it did there are so many quant graduates out there .... There is an interesting question about how long the world of finance itself is going to last before it implodes -- the...
  150. bigbadwolf

    Coding behind the ACA website

    http://www.theguardian.com/world/2013/oct/24/obama-contractors-obamacare-website-errors-software That's because none of these political shitheads, with room temperature IQs, knows the first thing about coding and computer systems.
  151. bigbadwolf

    Coding behind the ACA website

    The software failure is to my mind symptomatic of a broader incompetence of the US government as a whole. For instance I've recently approached the FDA a number of times on behalf of an overseas friend of mine interested in exporting his product to the USA. I can't get a single straight or...
  152. bigbadwolf

    Coding behind the ACA website

    Interesting article on the ACA fiasco.
  153. bigbadwolf

    Necessary to learn C#?

    Only if you already know how to code in a real language ( C or C++). You won't learn to code in C# and at some point you have to learn how to code.
  154. bigbadwolf

    Question about Real Analysis & Functional Analysis

    Got 'em both. Good books. I also like Peter Duren's Invitation to Classical Analysis.
  155. bigbadwolf

    Question about Real Analysis & Functional Analysis

    But how to go about learning it? I looked at the links Polter gave and read the first two (on the teaching of real analysis). I know virtually every book listed there. What's being discussed is not what to teach -- on which there seems to be a consensus -- but rather the most effective way of...
  156. bigbadwolf

    Is PhD in pure math worth it?

    I don't think any active research mathematician does what he does for fame, and the odds of gaining such fame are staggeringly unfavorable. Other than the fame part, the level of ability among the best mathematicians is such that no merely ambitious mortal can hope to compete with them in...
  157. bigbadwolf

    Is PhD in pure math worth it?

    At some stage an area of math has a tendency to become a glass bead game. The structure of post-war academia has encouraged this abstract and self-serving navel-gazing. This era is coming to an end. Courant foresaw this. Terence Tao has some insightful things to say on what makes good math. My...
  158. bigbadwolf

    Is PhD in pure math worth it?

    There seem to be differing points of view. One is that of Hadamard, who thinks that intuitions should be translated into definitions, and then theorems will come out of them. On the other, people like (maybe) Ulam and Feynman, who were more at home with an intuitive and ad hoc style of thinking...
  159. bigbadwolf

    Is PhD in pure math worth it?

    The math that's needed might be developed on an ad hoc basis. Something analogous to the Dirac delta function, which was initially created by physicists. Later on mathematicians developed the structure and machinery of the theory of distributions which legitimises/makes sense of such an ad hoc...
  160. bigbadwolf

    Is PhD in pure math worth it?

    The existence/uniqueness part was an aberration of 20th century math. Most of that math (aka "pure") probably won't survive. As Courant put it sixty or seventy years ago, the only math that will survive will be the math connected to physics, biology, etc. -- applied/applicable math. The pure...
  161. bigbadwolf

    Work bitch

    Pretty good essay. Never heard of this writer before.
  162. bigbadwolf

    Is PhD in pure math worth it?

    And each of these -- real, complex, algebra, topology, Riemannian geometry -- will typically be year-long first-year graduate courses. And the grad students will usually have taken lighter versions of these as undergrads (e.g., Churchill for complex, Herstein for algebra). In the strong...
  163. bigbadwolf

    Is PhD in pure math worth it?

    A decent math PhD takes some of your life force out of you. And PhD students are competing with one another because the jobs aren't there; it's literally a gladiatorial contest. This, incidentally, is also why quant recruitment is taking place among those holding PhDs: there's a large pool of...
  164. bigbadwolf

    About to finish a bachelor of finance – waste of time starting a BSc in Math or CS?

    No. I just think it's a bad first language. The ones I prefer are Scheme, Lisp, Python, and C. You can read more negative things about Java here and here. It is heavy for an undergrad program but if done properly it means one can hit the ground running in a graduate program. The good MFE...
  165. bigbadwolf

    About to finish a bachelor of finance – waste of time starting a BSc in Math or CS?

    NTNU is Norway's main science and engineering university. Oslo has a nice but small math department. Either will do for learning some serious math. I think there are four other universities in Norway but I know nothing about them. With regard to math, the dictum of "less haste, more speed" holds...
  166. bigbadwolf

    About to finish a bachelor of finance – waste of time starting a BSc in Math or CS?

    Are you at Oslo or at NTSU in Trondheim? And isn't your higher ed free so it's just a question of time and not of money?
  167. bigbadwolf

    Putin's strategic thinking

    http://www.karlremarks.com/2013/09/the-incredible-story-of-how-putin-used.html#sthash.nm386EDW.gbpl
  168. bigbadwolf

    Be wary

    Same as the law schools.
  169. bigbadwolf

    FE oriented C++ book for a beginner

    The authors claim no C++ prereq is required and glancing at the contents of the book I believe them: they'll teach you the necessary parts as you go along. If you want something to accompany the book try Allain's recent Jumping into C++.
  170. bigbadwolf

    BoA intern dies

    No, not cramming. They just keep piling on the assignments and tests, which means fear and stress keep increasing. After a certain stage it becomes completely counter-productive. Much of the study material needs time, paced effort, and leisurely thought to assimilate properly -- just the things...
  171. bigbadwolf

    BoA intern dies

    Well he, er, just sort of died, you know. In the old days: http://slumberwise.com/science/your-ancestors-didnt-sleep-like-you/
  172. bigbadwolf

    BoA intern dies

    Mainland Europe is civilised. I've just come back from a vacation in Norway -- I doubt anyone even puts in an honest 8 hours there. But no-one has any stress there, no dysfunctionality. All the stress and anxiety begin the moment I'm back in the USA.
  173. bigbadwolf

    BoA intern dies

    It seems putting in long hours -- irrespective of output -- has become a fetish, an end in itself. I bought a copy of Jonathan Crary's recent book, 24/7, a few weeks back. Here's a review of it in New Statesman: And another (more intellectually demanding) review here:
  174. bigbadwolf

    BoA intern dies

    That's the thing -- what's the f***ing use of having them put in such long hours when productivity declines precipitously after a certain number of hours? The only thing one can do is automatic and mechanical things like operate the photocopier, make some coffee, etc.
  175. bigbadwolf

    BoA intern dies

    Story in The Independent:
  176. bigbadwolf

    Beginner Java book for soon to be NYU MSMF student

    Both Gaddis and Horton are good. Either will do the trick for the purposes of computational finance. Sedgewick and Wayne also have a book on the subject, but it's more oriented towards algorithm analysis.
  177. bigbadwolf

    best way to bone up on academic math creds?

    The existential anguish of having to make a decision is yours and it's easy for people like me to offer advice -- not my money, not my time. This caveat out of the way, what you've got on your side are your tender years -- you're still in your mid-20s. You have room to make risky decisions that...
  178. bigbadwolf

    best way to bone up on academic math creds?

    Opinions vary. The one who has to decide is you. One point I want to add is that second-tier programs don't do a good job of teaching either (that's part of what makes them second-tier). These programs are offered and taken in a spirit of cynicism: the universities offering them want to make a...
  179. bigbadwolf

    best way to bone up on academic math creds?

    After completing a second-tier program I doubt you will get a job better than the one you have already -- and as you say, you will have accumulated some serious and non-dischargeable debt.
  180. bigbadwolf

    Boston MSMFT BU Employment Report

    Yes, and this will continue for reasons I don't want to go into on this forum. As long as there are takers, they will charge as much as they can get away with. When there aren't enough takers to break even, the programs will probably close rather than reduce the fees.
  181. bigbadwolf

    COMPARE Columbia vs Minnesota

    On what basis are you calling Minnesota "very solid?" Do you know the details of the program and their placement stats?
  182. bigbadwolf

    "Bifo" Berardi

    Fascinating interview with "Bifo" Berardi that might resonate with some quants. http://ced.berkeley.edu/bpj/2012/09/reactivating-the-social-body-in-insurrectionary-times-a-dialogue-with-franco-bifo-berardi/
  183. bigbadwolf

    The joys of living in England

    They must surely be Brits, and probably take a perverse pride in not knowing a word of the local lingo ("I say, old chap, can't you understand a word of English?"). Used to see them in Spain all the time.
  184. bigbadwolf

    The joys of living in England

    It is the same in Norway -- but the English they speak is stilted and formal and of course they don't speak it among themselves but only with utlending (foreigners) and as an andrespråk (second language) or even fremmedspråk (foreign language). If you really want to deal with them, it has to be...
  185. bigbadwolf

    The joys of living in England

    Well, dunno about that; I can believe it for Poland, though. If you said that unemployment is higher in France or that there's more labor demand in certain categories in London, it might also make sense.
  186. bigbadwolf

    The joys of living in England

    It's useful to know at least one other European language -- probably German or something close (like Dutch). France now seems to be joining Club Med so the romance languages (French, Spanish, Italian) are for losers. Pax Germanica is here to stay so may as well learn the language of the conquerors.
  187. bigbadwolf

    In london, how difficult for a Warwick financial math PhD to find a quant job

    http://www.google.com/imgres?imgurl=http://www.gettyimagesgallery.com/Images/Thumbnails/1422/142263.jpg&imgrefurl=http://www.gettyimagesgallery.com/picture-library/image.aspx?id%3D5209&h=395&w=522&sz=41&tbnid=zWNpYvf6Q4IReM:&tbnh=91&tbnw=120&zoom=1&usg=__IEKWYBIdYhbq83-cZUmyukDHIhc=&docid=fxNnTvi...
  188. bigbadwolf

    UCLA C++ Course

    Interesting that they're using the Deitel text.
  189. bigbadwolf

    Job prospects for MFE

    Don't think any member of the House of Windsor is employable. Mostly they function as high-ranking salesmen for Britain's aerospace and armaments industry. Doubt any of them have the brains to code. They do get automatic admission into Oxbridge, though.
  190. bigbadwolf

    PhD: does school brand matter?

    The jobs are fewer and the pool of contenders larger. And one reason why the college-industrial complex is under stress: tuition continues to increase in real terms but the graduates of an increasing number of schools cannot find jobs. The link between academic credentials and subsequent...
  191. bigbadwolf

    PhD: does school brand matter?

    Was it ever different?
  192. bigbadwolf

    College-Industrial Scam

    That's what they do in the SF short story, The Marching Morons.
  193. bigbadwolf

    College-Industrial Scam

    There's no "we." But I suppose if those of us here on this forum were to offer constructive criticism, one key point would be that high school and college freshman curricula and texts aren't what they used to be. Take a look at today's "college algebra" texts, for example. They're shockingly...
  194. bigbadwolf

    College-Industrial Scam

    http://rense.com/general96/seriouscourses.html
  195. bigbadwolf

    Things You Need to Know to Follow the Financial News

    Try Peter Passell's How to Read The Financial Pages -- but it is basic.
  196. bigbadwolf

    How does raising interest rates help curb inflation?

    Who'd ever have thought it, eh? Not really. The CPI is as rigged as the unemployment figure. The dollar is losing purchasing power faster than the US government lets on with its rigged figures. By this logic the hyperinflation of the Weimar Republic should also have been good for "economic...
  197. bigbadwolf

    MOOCs

    http://printculture.com/the-future-of-the-university-a-vision/
  198. bigbadwolf

    College-Industrial Scam

    C# has had it for years but this is not what I'm talking about -- I mean the formal lambda calculus and things like the Y combinator used to define recursion.
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