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/biz/ - Business & Finance

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7883 No.7883 [Reply] [Original]

I noticed a lot of people asking questions about personal finance but not getting anything but terrible answers. So feel free to ask me anything that may be troubling you finance-wise, or regarding the finance industry in general. I'm series 66 and series 7 licensed, CFP, M. Finance, managing around 40m in assets.

>> No.8438

What do you think about dark pools?

I'm a second year analytics/finance undergrad and just landed a summer internship at one. Do you think it will be good experience?

>> No.8517

>>8438
Some of the dark pool exchanges have better reputations than others. Personally I don't think they're unethical, and I know of several friends (also wealth managers) that use them to disguise their big trades. As far as I'm considered, they're often necessary with all the HFT and hedge fund sharks looking for blood looking to take advantage of incoming trades. The "light" exchanges like the NYSE are all sellouts giving special advantages to the HFTs/Hedge Funds, dark pools are a way for other institutional traders to fight back.

Either way I'm sure it'll be an interesting experience and a good resume builder.

>> No.8613

How do I make a lot of money doing very little work?

>> No.8635

>>8517
Awesome. Thanks for the heads up. Though it hasn't been a major concern, I was kind of worried that if dark pools for some reason get picked up and fucked by the media or something, having that on my resume could do me more harm than hurt. But I'm pretty excited about it, especially since it's my first internship (and I'm working abroad). I'd rather not say where I'm working, but out of curiosity, which ones have you heard have the best reputations?

>> No.8685

>>8635
The ones backed by major banks are the more reputable ones - BATS Exchange, Sigma X (Goldman), Barclays LX, Crossfinder (one of the originals, more reputable in the past than it is now)

>>8613
You'll probably have to sell your body and/or your dignity.

>> No.8728

>>7883
Hey

Im a 2nd year Finance/econ student. Ive been trading for 2 years. I know how to use Bloomberg quite well and am sitting for my FRM in May (Level 1). I will also be pursuing a Level 2, CFA 1-3 and a masters in finance/math.

I am interested in asset/portfolio management so I am tailoring my experience accordingly.

What do you think of my plan for the future? Any recommendations.

Also any tips on how to land internships.

>> No.8769

>>8685
>The ones backed by major banks
Oh yeah, I guess that makes sense haha.

Do you enjoy what you do? And if you could go back to school today (or even just go back in time to your schooling experience), do you wish you had studied anything different? I don't mean like a completely different career path, but more along the lines of specializing in something else finance related or having some specific skill.

>> No.8776

>>8728
If you want to get into portfolio management there are really 3 career paths - wealth management, asset pricing for an investment bank, or academia. Which one are you interested in?

>> No.8858

>>8776
I'd be willing to commit to any of those 3.

The issue is I am definentely getting a masters, so I could get a PhD right after.

Alternatively I could start working as well.
I'd prefer not to go into IB because I don't want to put in 100 hour weeks.

All 3 of those sound interesting and I think I am not far enough to pick one of those paths.

>> No.8865

>>8769
I originally wanted to be an equities trader. I actually worked at the investment banking division for my current firm as an associate for a while. I didn't enjoy it. I really like wealth management much better - I get to help people every day, I don't have to live in the hellhole known as New York City, and I make better money than I did back in IB.

I do wish I had taken more math classes back in school so I could get a PhD in economics someday.

>> No.8916

>>8858
I think your plan is good, in that case. A Master's in Finance will allow you to jump to a higher starting salary and position in the private sector plus work towards a PhD path as well.

Though keep in mind that undergrad finance and econ degrees are more of liberal arts majors, and MFin. and Finance/Econ Phd's are math-heavy research degrees. If your possible considering that route, I'd suggest taking as many math courses in undergrad as you can, plus econometrics.

>> No.8942
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8942

>>8865

Good luck with that, man. I took a bunch of math classes at Berkeley and then I made it halfway through an econ PhD at George Mason when I came down with a horrible Oregon Trail disease somehow and missed a ton of classes and then my fiancee wound up breaking up with me right before finals. I was unemployed for two years after that and I'm not sure how I didn't kill myself. Things are looking up for me again now, though.

>> No.8966

>>7883
Do you even HFT?

>> No.8967

>>8942
That's terrible, glad you're doing better now though. Are you going back to finish your doctorate?

>> No.8989

>>8966
I'm not a hedge fund manager, I can't mess around with my clients' money like that.

>> No.9013

>>8989
WHY SERIES 66 AND 7 INSTEAD OF 63 AND 7?

>> No.9044

>>8916

I am descent in math, was actually considering doing a math minor as well. Will load up on as much knowledge as I can. The FRM helps with learning some of the math.

So any tips on landing an internship? I want some experience before I go to do my masters so I am well rounded. What would you recommend for someone pursuing my general career path.

>> No.9047

>>8865
>I do wish I had taken more math classes back in school
Kind of related: My advisors, family friends in business, and professors have long since convinced me to pursue as deep of a computer science background as possible between my business studies (basically I'm going after a CS minor) because of the potential to be able to do first hand complex analysis and trading algorithm design. No matter what, I'm probably going to finish out the degree since I need the elective credits and generally enjoy cs, but is this "advanced" handle on computers a pipe dream of academia, or could this experience actually be a useful career skill?

>> No.9053

>>9013
What do you mean? Everyone in my firm does the 66, it encompasses the 63 as well. I'm not sure what that has to do with hedge funds.

>> No.9145

>>8967

Nah, I need to pay off the loans I've got, first, and I want to just go ahead with my career. After spending ten years in college I realized I was learning more on my own, anyway, and finishing my PhD would just mean becoming an assistant professor at some cow college teaching undergrads about Keynesianism for $30k a year. If I do well in the financial advice business I'll be making way more than that and actually helping people.

>> No.9161

>>9053
$40MM in AUM is small potatoes. I worked at a $40-$50MM fund in NY, and they barely had money to do anything. I was getting paid shit there. $45k a year to be an EA to the PM who was a PhD (MD). They told me they'd raise it to $95k + bonus after 3 months of working there, but at the end of the 3 months they let me go since they weren't raising capital fast enough. Right before fucking Thanksgiving.

>> No.9165

>>9044
Really, anything you can get is good. If you can get an internship with the Fed that's the best, it looks great to both universities and private sector employers. Otherwise any banking or real estate (usually more abundant) internship will be fine. Some firms have "training programs" where they'll compensate you and it looks great in your resume. I believe Jones Lang Lasalle just started one such program, plus all the major IBs have them. As for getting one, unfortunately I can't help you with that. I just spammed resumes everywhere or used connections to get every job I've had.

>>9047
Well there's really 2 tiers of usefullness when it comes to computer skills in the finance world. One is a general knowledge of stuff like VBA, Matlab + other stat programs, and maybe a little bit of C++. After that nothing is useful until you're at a Master's or PhD level of knowledge. But yeah, to be terribly honest an undergrad knowledge of CS won't get you to a point where you can design trading algos or anything.

>> No.9176

I plan on saving 5k and trading penny stocks
I understand the market is filled with nothing but (almost laughable)scams and gamblers, I plan on shorting pumped up stocks before they're dumped
Thoughts?

How much drugs do you and your coworkers do? What's the culture like?

>> No.9178

1) How do you get involved in Finance?
2) Do you enjoy your work? Long hours? difficult family life? Good money?
3) What is your advise for a current Business management student in college?
I feel lost. I go through the classes, and bullshit thinking I want a good career, but I don't know which path to take. I honestly am not a huge fan of mathematics, but then again, I've never really applied myself to it. Whenever I have I do fantastic? What would you recommend I do? I also work part time and am taking financial aid, and loans for school. (currently CC but transferring to state school in fall)

>> No.9230

>>9145
>I realized I was learning more on my own
keep learning by yourself

>> No.9256

>>9165
Huh. Well, fortunately I've got VBA, C++, and some stats stuff on lock, so I guess that's cool. I'm glad to at least hear the reality about that "second tier," though.

Thanks for all the advice, man. It's hard to find a situation in real life to ask off the wall questions like these, so this was cool. Have a good one.

>> No.9266

>>9145
>cow college teaching undergrads about Keynesianism for $30k a year
literally lol'd, interesting way of putting it. Sometimes I've had the same thoughts, a few of my friends who went on to get a doctorate aren't doing anything interesting, they're certainly not doing any kind of paradigm-changing research. Just teaching undergrads and writing papers that get read by a dozen people.

>>9161
That sucks badly man, what firm were you at? $40M in AUM isn't a lot here (GA), but I wouldn't call it "small potatoes", nor is my compensation that poor. I hope you found another firm that treats you better, I've never heard of someone who got pink slip'd who had more than 10MM down here.

>> No.9341

Do you browse 4chan at work?

>> No.9347

>>9176
That's a bad idea. The market can stay irrelevant far longer than you can stay solvent. You can start shorting a penny stock trading at $1, then it could jump back up to $10 before crashing back down to $.01. You'll get killed by margin calls from you brokerage and be forced to liquidate more of your positions, and the whole thing will fall apart quickly.

I don't do any drugs. I work as a wealth manager, not an investment banker. I did a stint as an investment banker at MS and I didn't see any drugs either, mostly just nerds working long hours.

>>9178
1. Always enjoyed the field, did my UG in econ/finance, then a master's in finance
2. I don't have a family but a lot of my colleagues definitely struggle with work/life balance, cheating is frequent here. Long hours but good money for those who "make it", wealth management is very much a meritocracy.
3. I don't really know much about the field of management, but what are you most interested in? Math isn't important for most jobs in business.

>> No.9379

>>9266

You can literally make more of an impact on academic economics as a prolific blog commenter than as a low-level professor now. The university system may have once been a fertile intellectual environment but it isn't anymore.

>> No.9390
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9390

>>9341
Occasionally

>> No.9403

>>9347
Did you do your masters before you got a job or did your employer pay for it? Like, isn't it hard to get a job if you have a masters already (or is that just with careers that are required to pay you more, like teachers)?

>> No.9421

>>9390
Do you have time to watch anime? What are your favorites?

>> No.9433

>>9347
That's the problem I suppose. Material isn't difficult I just have no drive to bother memorizing all the bullshit rules and laws etc. I do plan on having a family, already have a sweetheart who's doing alot at the moment. I want to live well. Maybe a little above well. I enjoy managing people and resources. I enjoy working with my hands when I can, but I also know that it's more of a hobby then work. I don't know man. I'm sorry I'm being so vague, I'm just literally lost at this moment in my life. I'm still in the "what the hell am I going to do" phase.

>> No.9441

>>9266
I would like to share the name, but I can't because I was the only EA to have ever worked there. They decided that an EA role wasn't needed at the company and I got the axe. If I say the name, I'll ruin my chances of them giving me a good reference. And I still haven't found work... been out of work since November

>> No.9444

>>9403
Nah, I paid for it out of pocket.

It won't hurt your career prospects at all. In the business world a Master's-level degree generally means you'll get hired with a position and salary above the standard starting position (e.g., you'll start as an associate instead of an analyst at an investment bank).

>> No.9451

>>9390
what's your personality type? all of the firms i've visited seem to be dominated by "bros" that happen to be intelligent/well-schooled enough for the job. specifically with ib, is it possible to be a "quiet guy" and still be successful?

>> No.9484

>>7883
financial advice for some age 21 ?

>> No.9499

>>9484
someone*

>> No.9521

>>9421
I watch quite a bit, probably 5-10 hours a week. Favorite shows include Monster, Kaiji, SAO (inb4 /a/ hate), Clannad, One Outs, Master Keaton.

>>9433
Honestly? If you don't have any particular interests at this point it may be better to pursue something concrete that will guarantee you a good job. Accounting or MIS are good fields that let you ensure a middle-class life while also giving you the potential to move way up.

>>9441
I'm sorry to hear that man, I'll mention you in my prayers tonight.

>> No.9534

>>7883
What is your opinion on the influence of artificial intelligence in the areas of finance. I am incredibly interested in this field, so much so, i feel the need to drop out and just read up on creating high-level business analytics/decision theory agents.

>> No.9537

>>9451
Not him but possible: yes, likely: no. IB is a jungle where people like to talk loud and be noticed i think the most difficult thing would you getting hired. After that it is all about who works more and brings more results.

>> No.9574

>>9451
The lower level of IB (associates and below) is nerds. The upper level is more of the bro-type with good connections and good social skills. Its certainly possible for nerds to do well though. I believe the CEO of Enron was a huge nerd, and he was considered the most successful businessman in America until the whole fraud thing.

Personally, I'm a fairly quite guy. Suffered from social anxiety when I was younger. After a while though, you get more adept at working professional social situations, especially as you get older.


>>9484
You're going to have to be more specific than debt. Are you in school? Working? Taking out debt?

>> No.9594

>>9484

Give us some more details on your situation. Debt, income, goals? The first thing you need to worry about is making sure your cashflow is in the black.

>> No.9611

>>9534
Dunno man, I've looked into machine learning but most of that stuff is waaay over my head. Don't drop out though, with anything quant-related in finance I'm sure there's a bunch of PhD mathematicians working on it who have much more capital than you do.

>> No.9618

>>9347
They pretty much never get that high, and I won't be betting the ranch on every trade

I'm thinking standard CFA/financial advisor/stock broket
Have you read the forbes article on McKyle Clyburn? That kind of thing. Brokers with big swinging dicks and even bigger nostrils

>> No.9654

>>9574
I have no debt and 4k in my bank account. Work for $10/hr

I did 2 years of college and quit going after losing financial aid. I plan to go back.

I mean how should a young person invest their money? Obviously I need to get a better job first.

>> No.9685

>>9618
If you know what you're doing then go for it. Can't make big money without taking big risks, right? Just know when to quit.

I've heard of the Sky Capital guy. I'll say this - his kind of personality is dying out in high finance. The finance world is become more standardized, more regulated, and the era of the dick-swinging bigshot trader is coming to an end.

>> No.9767

I plan on getting my undergrad in mathematics (basically want to get as close to quantitative analysis as an undergrad can), minor in finance. Then go for my MBA in finance
How original am I?

>> No.9769

>>9654
Until you hit about $10k there's not much of a need to start investing, though there's nothing wrong with getting a head start.

In terms of investing:
1. Put as much money as possible into 401(k)s, get as much employer-matching as possible too. Completely max out any of these plans or any other retirement plans available to you.

2. Open an online brokerage - TD Ameritrade, Scottrade, Fidelity, TradeKing, etc. Put the rest of your money in there. Since you're young, there's nothing wrong with playing around with your money a bit. However, keep MOST of it in safe EQUITIES (not bonds, not crytocurrencies, not gold, not commodities). If you don't know much about the stock market I suggest looking into exchange traded funds (ETFs), who trade on the market like stocks but diversify for you.

>> No.9831

>>9685
That's saddening

>> No.9835

>>9767
If you're end goal is quant, the MBA in finance isn't the best way to get there. Also you won't be able to even get into a good MBA program without significant work experience.

I suggest:
1. Undergrad to Master's in Financial Engineering or Financial Mathematics

2. Undergrad to PhD in CS or Math

3. Undergrad to Master's in Economics/Finance/Math/Stats to PhD in Finance

In order from lowest to highest starting salary

>> No.9836

>>9769

Yeah, this is good advice. If you're young and in a low tax bracket right now, the Roth IRA is a great thing to put money into as well. Tax-free growth on your investments for 40 years is a big fucking deal.

You definitely should keep some cash on hand to cover emergencies and short-term savings for major purchases, though. If you only have $4k you probably want to keep it all fairly liquid just in case you wind up needing it.

>> No.9851
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9851

Father quit his job, (53 yr old).
Looking to invest 85k..

Where should I direct him? I worried about the infinite debt ceiling until march 15~.
Should we wait until after said date to invest?
What/how should we invest?

Much appreciation and thanks..
-anon

>> No.9916

>>9851
I believe the debt ceiling crisis has already ended, the Republicans caved and the bill passed yesterday. Don't wait until then to invest.

Where is the money now? Is it already in an retirement account or do you just have it in cash in a bank?

>> No.9932

>>9769
what happens when you hit $10k?

>> No.9948

>>9916
Yes but the bill is bad news in the long run, correct?

it's bank cash..

>> No.9959

>>9932
Nothing in particular. Like the other guy said its good to have some money liquid lying around though. Plus until you have around $10k, the transactions and time costs for investing usually end up outweighing the actual returns from investing.

>> No.9967

>>9835
End goal is IB. I was under the impression many people go directly from undergrad to business school, then get recruited from there

>> No.9978

>>9948
What do you mean by "bank cash"?

>> No.10030

>>9967
Nah that's very rare, top MBA programs almost never take kids straight from undergrad. If you're looking to go straight from school to IB, and you don't go to a top undergrad school IBs recruit from, you should do a Master's in Finance right afterwards. IBs will take you on as an associate after you graduate.

>> No.10078

>>9978
by bank cash I mean it's in a bank. There's a bit in outside surplus but only looking at that 85k at the moment.

Investing worries me at the moment- but you know more than me.

>debt ceiling infinite (march)
>banker deaths

>> No.10107

>>7883
I just inherited about 200k. I have a job that pays 50k a year + benefits. I have no significant debt. What should I do with it?

>> No.10116

>>8613
Sell drugs

>> No.10145

>>10107

Keep working and buying used trucks

200 g's ain't shit these days

>> No.10150

>>10078
I wouldn't worry about the debt ceiling honestly, but if you're really concerned you can avoid US stocks altogether.

As for where you should put the money? For someone in your situation (unemployed, early 50s, decent amount of savings), I'd recommend around 30% in fixed-income securities and 70% in equities, mostly blue-chip stocks. If you don't have a financial advisor or anyone who manages your finance, consider putting the money into an online brokerage like TD Ameritrade, eTrade, Tradeking, Fidelity, etc. Then buy large, well-known, blue-chip stocks and ETFs. Since you're wary of the US debt ceiling you could focus more on international stocks. PIE is one reputable ETF that invests only in emerging markets (i.e., not the US) stocks.

http://finance.yahoo.com/q?s=PIE&ql=1

>> No.10152

>>10107

If you guys have a big chunk of change like that, you should probably talk to somebody in real life about it and work out a financial plan.

Do you have any long-term goals you want to fund? Retirement, a major purchase, education, etc?

>> No.10172

>>7883
I make $1003 a month, and my bachelors degree is paid for completely(Military benefits)

What should I do with this money? My parents live down the street from my school so itd be dumb not to live here. Right now I'm just saving for a car, whilst buying little things.

pls gib advice on how to use money. I want to invest, but i only have 1000 in savings so far.

>> No.10181

>>10107
Assuming your young (<40), there's no reason you can't invest that money 100% into equities (after taking care of all estate tax issues, of course). Open a brokerage and invest a lot of it into small-cap and international stocks, there's no reason why that $200k can't be $10m by the time you retire.

>> No.10201

>>10172
Please see >>9769

For now just keep saving up, $1000 invested won't return you more than $50-$200 a year so its better to just keep it in a bank until you get more.

>> No.10210

>>10150

I agree with this - emerging markets are, well, emerging. Although 2014 will probably be a decent year in US equities as well, according to my company.

>> No.10215

Max my 401k, or split it 50/50 with cryptocurrency?

The latter has made me far more money than the former consistently for the last 2 years so i suppose it's a rhetorical question.

how about a non-rhetorical one

When can i buy bitcoins with a roth IRA or similar?

>> No.10228

>>10152
Im seeing a financial adviser soon as I would never take anything on here seriously. I have no need of it and have no idea what to do with it honestly. I just want it to go away and make me the most money it can without ever having to think about it.

>> No.10246

>>10150
Thank you much. If it is in retirement over bank.. what difference would it make? I just found out IT IS retirement.. not bank.

>> No.10262

>>7883
I'm looking for advice on life and finances.

I work in a credit union. I'm 26. I didn't major in anything business-related needless to say. Can I parlay this into anything? I'm entry-level. I've worked at a shit ton of other places, nothing glamorous.

I'm 40k in debt because of undergrad. Originally had a full-ride at a small school in Ohio, but had to transfer. Anyway, I currently live in Austin. Is Austin at all important in the world of business outside of its association with tech? Tech's booming here.

Everyone rants and raves about petroleum and petroleum engineering around here and fracking (sp?).

Otherwise, I'm confused. Should I ditch the private sector because I'm out of my element anyway and just hop on the debt train to grad. school for teaching and/or some career that will lend itself to 10 years of low wages in the public sector and loan forgiveness?

PS I'm medication dependent due to some health problems that curtail my ability to work like business majors work, e.g. I cannot work 16 hours for Deloitte (sp?) like some friends of mine wound up doing. I don't want to break down and wind up disability, which I basically qualify for because my health is literal garbage.

I recognize I will never be rich, and that I could fail and wind up in some pretty unsavory and unhappy positions. What kind of advice could you offer me? Thanks.

>> No.10264

>>10215
>The latter has made me far more money than the former consistently for the last 2 years so i suppose it's a rhetorical question.
Don't think that past returns are a predictor of future returns in finance. Just about every stock in the S&P 500 has gone up by 1000%+ since their IPO (otherwise they wouldn't be in the S&P 500), but that doesn't mean I expect the S&P 500 to return 1000% next year.

>When can i buy bitcoins with a roth IRA or similar?
You can't buy currencies or commodities in an IRA except through an ETF. A Bitcoin ETF is in the works but it could take years to get past the SEC.

>> No.10271

>>10172
$1003 per month is poverty-tier, not a level you should be thinking about investments at.

>> No.10279

>>10181
>small-cap
what is that?

>> No.10293

>>10246
What kind of retirement account is it? 401(k), IRA, HR10, etc.? Some retirement accounts will penalize you for early withdrawal, and if that's the case, it would be bad to move money out of the account unless you really needed it.

>> No.10314

>>10201
What happen if you live in a country where the currency is losing value?
How do you increase your money or save without losing value until you reach the 10k gap?

>> No.10338

>>10293
403B enuinty (spelling).

i really appreciate your help anon. You might be changing another anons life. thanks again

>> No.10368

>>10279
Stocks with a market cap (market capitalization) under $2 billion. If you go onto Yahoo Finance and look up a stock, there's a section for "market capitalization". In other words, they're stocks that represent smaller companies, not huge blue-chip ones like Apple or Exxon. Traditionally small-cap stocks are more volatile (fluctuate more in price) but have higher returns than large-cap stocks. If you're young, the volatility won't matter too much (it'll smooth out over the years) but the higher returns will be a huge benefit.

>>10262
Honestly, this isn't my area of expertise but I would say you need to find a career that will get you excellent benefits in case your health deteriorates, plus has loan forgiveness. The teaching idea sounds really good to me, though I don't know much about the field personally.

The credit union job and working in Austin alone won't move you further in the business world, unfortunately.

By the way - there's no shame in getting disability coverage, several of my clients are receiving forms of government assistance as well. If you legitimately need it, you should apply for it, at least until you can pay off your debt.

>> No.10415

>>10338
A 403(b)? Would you happen to be a minister by any chance?

403(b)'s are tax-deferred plans, meaning you don't pay any taxes on any profits you make until you withdraw the money. So don't withdraw the money until you need it. That being said, you should still be able to choose how to invest your money within the 403(b) account. If its all in cash, purchase stocks with it but DO NOT move anything out of the account until you actually need the money.

>> No.10426

>>10368
Wow thanks for the speedy and informative response!

>>10262 here

Considering one of the medications I take is 2k a month alone, I think you're onto something. Plus, health-related bills are the #1 reason for bankruptcy, which is not what I want.

Teaching sounds like a good idea. Thanks again.

>> No.10431

>>10271
i guess your right. I have 0 expenses. so its all open money.

I dont know. I'm just impatient ;-;

at least my degree is Engineering. I plan on being self employed and running businesses. so hopefully that goes well

>> No.10435

>>10314
You should be making money much faster than you're losing to deflation. What country do you live in?

>> No.10443

>>10431
>my degree is Engineering. I plan on being self employed and running businesses
Do you even know the first thing about running a business?

>> No.10453

How did andrew Carnegie invest his paycheck back in the day? now you need several thousand. but he bought some with his first paycheck working for a train conductor

>> No.10459

>>10431
engineering isn't exactly the best field to start a business in if you've just graduated

you need a lot of starting capital

>> No.10473

>>10435
What do then?

>> No.10484

>>10453
He mortgaged his dad's house to get funds for investing, and I'm not even kidding.

>> No.10494

>>10443
well not self employed immediately, i plan to get a job somewhere, rake in some money for a few years then go solo after I have a marketable idea.

I *feel* like i'll always be employable with engineering experience. so if a plan fails i dont think itll be the end of the world.

maybe i'm too optimistic

>> No.10508

>>10484
wow. Thats kinda disappointing, really

>> No.10511

>>10473
What do about what?

>> No.10526

>>10415
hospital project manager.. no ministers here.

Thank you

any stock recommendations?

>> No.10560

How do you make as much money as possible with as little resources or skill used?

>> No.10564

>>10511
To save 10k in money in financial tools

>> No.10578

How do I get into quantitative finance/computational finance? I'm a CS major rn and love it. I had to take this semester off for financial reasons so I was thinking of learning stuff. What should I get better at? I am doing math and some programming courses

>> No.10582

>>10526
Sorry, I can't give out specific stock recommendations for fear of liability issues. But like I said earlier, it may be better to purchase ETFs and let them pick the stocks for you. If you choose to hold only stocks instead of ETFs then make sure you get at least 20 in your portfolio for diversification purposes.

>> No.10601

Do you have recommendations on "safe" Canadian investments? Not looking to make a million dollars, but also not looking to have my money just sit around in a bank.

>> No.10604

Why does everyone have a hardon for investment banking?

I've heard people (read: the realest niggas) really want to go into private equity and venture capital.

>> No.10635

>>10560
If you mean through investing, there's no way to get high returns without taking on high risk. If you just mean business in general, I'd guess prostitution.

>>10564
You gotta make $10k in wages first then start investing afterwards. See this post: >>9769

>>10578
You need higher level math (ODE, probability theory, PDE, real analysis), econometrics, stats, stats programming (R/Matlab/Stata). You'll also need at least one Master's level degree to get a job as a quant (Masters in Fin Engineering or Fin Math is the best), PhD would be even better.

>> No.10661

>>10635
>You gotta make $10k in wages first then start investing afterwards
How?
If the inflation don't let me

>> No.10667

>>10601
Is there a reason it has to be Canadian? Most Canadian companies trade through US exchanges and I'm guessing most Canadian investors purchase US stocks and other US equities.

>>10604
Personally I think IB/PE/VC are all terrible fields. But PE and VC pay out the big bucks, moreso than IB. However, investment banking is necessary as an entry to private equity or VC - especially for kids straight out of undergrad.

>> No.10673

>>10635
>I'd guess prostitution.
What if I'm a fuggly man?

>If you mean through investing, there's no way to get high returns without taking on high risk.
I don't like investing in the stock market. It's expensive and risky.
If I feel like gambling some time I might think about it.

>> No.10685

>>10526

Not OP, so no problems answering. Get an account with Fidelity, Schwab, or something similar. Put ~60% of the cash into an S&P 500 index fund or ETF. Put the remaining ~40 of the cash into a bond fund (NOT a tax-free bond fund as this is a retirement account). Don't mess with trying to buy individual stocks with only $85K to play with -- it's a recipe for disaster.

>> No.10678
File: 496 KB, 500x375, 8.gif [View same] [iqdb] [saucenao] [google]
10678

>>10582
Thank you.

-anon

>> No.10681

>>10667
It has to be Canadian because I'm Canadian, unless this is wrong. I just noticed your comment about ETFs being safe while being diverse. Is this still true for Canada?

>> No.10692

>>10661
I don't get what you're saying man, if you make $30k a year you're not going to lose more than $300 a year to deflation at most. There's no country where deflation is so bad that it'll prevent you from savings up $10k.

>> No.10700

>>10426

Former teacher moving into being a financial adviser here. Teaching is easy as fuck and the benefits are great, but there's no serious potential for making a lot of money, obviously. It sounds like you need to be conservative though, so it'd probably be a really good move for you financially. What'd you major in? What would you want to get your credential in?

>> No.10725

>>10681
Nope, I'm not 100% positive but I believe Canadian investors can buy US securities if they wish.

There's a good (US-traded) ETF that only invests in Canada though - EWC, its the Canada iShares ETF. Though you can buy whatever ETF you want, not just the Canadian one. SPY is a well-known one, it just matches the returns of the S&P 500. PIE is one for emerging markets.

>> No.10739

>>10700
Eh, I majored in English and classics.

I'm considering getting a temporary credential in Texas and moving from there. I'd probably teach anything English related, or Latin. Otherwise, I might consider graduate level education for an M. Ed. Anything to get out of what I'm doing now, which is kind of deadend in the long run.

>> No.10767

>>10692

>thinking deflation makes you lose money
>not realizing there are some countries where inflation is totally out of control

Try purchasing hard assets, equities, capital goods, and foreign currency that won't lose its value to inflation. I'd stay away from Dunning-Krugerrands (cryptocurrencies) until they stop being so crazy volatile though.

>> No.10785

>>10767
If he was talking about inflation instead of deflation, it would be easier for him to save up $10k (in nominal terms), not harder. Unless I'm misunderstanding the whole question.

>> No.10802

>>10725
Interesting, thank you. Are there any other sites/institutions that I can deal with if I'm interested in ETFs? I'm completely inexperienced when it comes to investing.

>> No.10804

>>10785
How's that?

>> No.10807

>>10739

English is a great subject, man. My ex-girlfriend taught 8th-grade English and I subbed for her a few times. It's easy, easy work, the pay is good enough to live comfortably on, and you get a ton of time off. Just make sure you get into a good district that's not full of 'disadvantaged urban youths' and you'll be good.

>> No.10809

>>10785

Nah, the other guy is being a smartass.

>>10767
>Try purchasing hard assets, equities, capital goods, and foreign currency that won't lose its value to inflation.

The guy you're replying to can't even put $10K together to get started. Your advice is good, but not too relevant to his position.

>> No.10824

>>10685
thank you.

>> No.10825

>>10807
Sounds perfect!

Thanks for the advice. I'll avoid the urban youths.

>> No.10838

>>10802
If you put your money into an major brokerage, they'll let you buy all sorts of ETFs. The big ETF companies are Spider (SPDR), iShares, and Vanguard. If you google those names followed by "ETF" you'll find a list of everything they offer. For example, XLT is an ETF for the technology sector, EGPT is an ETF for the Egyptian stock market, HYG is an ETF for junk bonds, etc.

>> No.10865

Hey guys, OP here. I appreciate all the questions but I'm heading to bed now and won't be answering any more. I wish moot didn't remove the option to delete threads.

>> No.10871

>>10838
What sorts of things should I keep in mind or avoid when getting started with ETFs?

>> No.10883

>>10865
Goodnight, thanks for the advice. I'm going to look into what you told me.

>> No.10893

>>10871
OK I'll answer one more - the biggest thing is to check their past performance and their fees. I like to use Morningstar.com for that. If you search for a ticker and click the "performance" tab, you can see a history of their recent performance. There's a lot of terrible funds (avoid anything with "bull" and "bear" in their name, also anything with "2x" or "3x") so make sure to see how they did in past years before you buy anything!

>> No.10887

>>10865
Goodnight, OP.

Thank you again.

>> No.10905

>>10824

No problem. If you're looking for bond funds, BJBHX is good (a bit higher risk, but reasonable returns). TGLMX and DLTNX (they're similar to each other, so don't buy both) are also interesting. Just keep in mind that the $ is already in a tax-advantaged account, so you want to steer clear of tax-free bonds/bond funds as you'll be sacrificing return (and getting nothing in exchange for it).

>> No.10913

>>10809

When they had crazy inflation in Argentina in the late 90s people were using toaster ovens as currency. You can buy small-scale capital equipment for fairly cheap, it'll keep its value, and you can actually use it to make money, potentially. You can buy a small equity position in SOMETHING for a couple of grand and that won't get wiped out by inflation. And a handful of coins or a small stack of US dollars would also protect his value, right?

If inflation's eating like 30% or more of his capital's value every year he doesn't have much in the way of other options, right?

>> No.10964

>>10913

I suppose so. I would guess that in his position he'd be best off buying a hard currency (US$, Euro, Swiss Franc, Yen) or gold, depending on what's easiest available to him. It's hard to be any more specific as he was really vague with his questions.

>> No.11202

My friend and I want to invest together and we need a vehicle to do this through. What's our best option?

>> No.11236

>>11202
A Toyota Prius

>> No.11258

>>11202
Bitcoin