I agree its a good toy if u just want to hack basic ideas but it quickly becomes limited when you want to get over the basics.. all the packages are basic.
proprietary modeling is impossible unless u want to write up ur own code which is far better done in other languages..
the packages u mention are pretty much econ101 and hardly anyone uses that bullshit in reality.
much of pros use R, S, Matlab etc. to hack ideas but implementation is done in C++ usually. so sure if u want to test stuff quick it can be useful. but if u want to push boundaries actually theoretically test models (one reason i asked about GARCH) than u need something that allows u to do anything u like.
what trader has been successful with R? none that i know. most prop traders in banks actually prefer EXCEL more than anything else.. on the hedge find side there is alot of demand for statiticians with S/R skills but only to analyse large data banks and develop models.
I once read a very good book on data mining and knowledge datbases which made it clear the problems we face today with analysing data and implementing such applications. (highly recommend)
http://www.amazon.com/Advances-Knowledge-Discovery-Data-Mining/dp/0262560976
I PERSONALLY love delphi and think it's the best language out there for doing anything (esp. requiring database).
many of the people I meet develop their own models (not off the shelf garbage ie. CAPM, garch1.1. etc..) so I don't think these basic R packages are useful at all. what's more valuable is if u understand theory e.g. OLS and want to implement ur own way of optimising/testing a model..
R is certainly useful but my view is you'll soon want to experiment/explore ur data more and you might think maybe u had invested ur time in using something else.
btw it might take less time coding Blackscholes in R (who the fuck uses BS these days anyways) But it would actually take far less time coding it in C++/# and directly socket trading it..
the reason i feel u fear OOP language is u probably lack the theoretical foundations of what u want to examine.. there is no point in hittin buttons to return some time series result if u don't truly understand what the software is doing with the data. by coding stuff urself u will learn far more.
in any case do explore it. such quant traders know more than 1 language anyways and use a variety of tools..
proprietary modeling is impossible unless u want to write up ur own code which is far better done in other languages..
the packages u mention are pretty much econ101 and hardly anyone uses that bullshit in reality.
much of pros use R, S, Matlab etc. to hack ideas but implementation is done in C++ usually. so sure if u want to test stuff quick it can be useful. but if u want to push boundaries actually theoretically test models (one reason i asked about GARCH) than u need something that allows u to do anything u like.
what trader has been successful with R? none that i know. most prop traders in banks actually prefer EXCEL more than anything else.. on the hedge find side there is alot of demand for statiticians with S/R skills but only to analyse large data banks and develop models.
I once read a very good book on data mining and knowledge datbases which made it clear the problems we face today with analysing data and implementing such applications. (highly recommend)
http://www.amazon.com/Advances-Knowledge-Discovery-Data-Mining/dp/0262560976
I PERSONALLY love delphi and think it's the best language out there for doing anything (esp. requiring database).
many of the people I meet develop their own models (not off the shelf garbage ie. CAPM, garch1.1. etc..) so I don't think these basic R packages are useful at all. what's more valuable is if u understand theory e.g. OLS and want to implement ur own way of optimising/testing a model..
R is certainly useful but my view is you'll soon want to experiment/explore ur data more and you might think maybe u had invested ur time in using something else.
btw it might take less time coding Blackscholes in R (who the fuck uses BS these days anyways) But it would actually take far less time coding it in C++/# and directly socket trading it..
the reason i feel u fear OOP language is u probably lack the theoretical foundations of what u want to examine.. there is no point in hittin buttons to return some time series result if u don't truly understand what the software is doing with the data. by coding stuff urself u will learn far more.
in any case do explore it. such quant traders know more than 1 language anyways and use a variety of tools..