Wednesday, April 1, 2009

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This happens when a programmer / MBA works as a Quant

I have always held a point of view, that giving quant job in hands of programers, MBA's would be like inviting hell. They donot realize the perturbations and their outcomes when it comes to stochastic math. A recent article in gives a confessions of a programer who wrote a mortgage software which was later used in this sub prime crisis leading to "modern depression" yes the way he describes in the article it is very clear he was a part of it. Also in this article he describes how traders who get$2million in bonuses behaved like overgrown kindergartners , imagination sends chills down my spine about their largese .These days no one wants to be a quant, but infact banks and financial institutions need quant little reliable one who considers in to account the uncertainity of predictions and minimizes them to be in a safe zone a real mathematician who can help ,for further read i recommend reading this article

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