Why do quants need to know programming?

Quote from Bond Trader:

good to see you back 99.
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thanks BondTrader. hehe. Excuse for the academic/quant ranting. hehe. Just trying to explain the job market of quants as it is.

So, are you still do prop trading or are you at an institutional desk now?


-t
 
Quote from garfangle:

Although I could understand that most prospective trading employees of a quantitative firm would be required to be both bright (aka Top university & math/sci Ph'D degree) and sharp (withstanding the stress), I do not know why they must also be able to code. Many posted jobs on sites such as hedgefundcenter.com for quantitative positions require that candidates be able to use programming languages such as C++.

However, I would think that while it would be nice to have the two abilities (math & programming), it should not be a barrier. Why could not a firm separate the two positions? Employ one person whose skill may be developing trading ideas and the other person be able to code those ideas into a software platform. What did quant employers do to recruit candidates before much of the current technology was available to the general public (aka pre-mid 1980s)?

Ciao.
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20 years ago this position may have been debatable: todays its not. Graduates fluent in advanced mathematics are expected to be able to program in at least one widely known language.

Another factor is the oversupply of talent: there are many highly trained people worldwide looking for these positions. The job market is out of balance and we can make very specific multi-skill requirements for these type of positions and still get 100's of quualified applicants: With a supply imbalance I dont need to take people with only one strong skill set and I can look for the strongest candidate ..... i.e. the best deal for the company.
 
Quote from CalTrader:



20 years ago this position may have been debatable: todays its not. Graduates fluent in advanced mathematics are expected to be able to program in at least one widely known language.

Another factor is the oversupply of talent: there are many highly trained people worldwide looking for these positions. The job market is out of balance and we can make very specific multi-skill requirements for these type of positions and still get 100's of quualified applicants: With a supply imbalance I dont need to take people with only one strong skill set and I can look for the strongest candidate ..... i.e. the best deal for the company.
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Ovrsupply asside there is recruiting going on...both coasts.
 
Hey Trader99. I was just wondering about a masters in financial engineering. I was thinking of going back to school for this at Berkeley or Carnegie Mellon. I know it is extremely competitive to even get into these programs but is it economically worth it? Is the sacrifice of time and energy worth anything?

And as an independant trader, can I learn any viable quantitative strategies at these institutions? Thanks for posting on this topic. It's an interesting look into the institutional side of things.
 
Quote from riskreward:

Hey Trader99. I was just wondering about a masters in financial engineering. I was thinking of going back to school for this at Berkeley or Carnegie Mellon. I know it is extremely competitive to even get into these programs but is it economically worth it? Is the sacrifice of time and energy worth anything?

And as an independant trader, can I learn any viable quantitative strategies at these institutions? Thanks for posting on this topic. It's an interesting look into the institutional side of things.
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riskreward,

MFE is a good degree. But what you do afterwrd depends on the job market. You'll get a decent salary and build quant models or decision support. Trading maybe..

good luck! the programs at Cal and CMU are very competitive!

trader99
 
I hate to interrupt this discussion, but who needs quants anyway? Why would you want an arrogant PhD to give you advice about things that they know nothing about? Let's kill all the quants ...:D
 
Quote from sle:

I hate to interrupt this discussion, but who needs quants anyway? Why would you want an arrogant PhD to give you advice about things that they know nothing about? Let's kill all the quants ...:D
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HAHA! You are funny! I'm an ex-quant though. I like trading more the pure academic meanderings of the quant world... haha
 
Same here (PhD and whole works) - but we (especially the ex-quants among us) know that math and trading are enemies...Let's comit suicide, then? :D
 
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