How do people with zero mathematical intelligence work in finance or investment services...

[Anonymous No.11639751]

...and keep a Straight face?
Its literally like being a doctor even though you failed every biology course you ever took.

[Anonymous No.11639775]

>>11639751
You add up the numbers and hope you're right. If someone calls you, explain you had missing information and will do better next time
>>wrote a bs 2 mm operating budget

[reluctant kneepad girl No.11639781]

people with good instincts can do better than math

>ask: how many times do you need to flip a coin to be sure it has a 60/40 chance of landing heads?

total mathematical retards may be able for answer this correctly just because they have good instincts

[Anonymous No.11639792]

>>11639781
the fuck?
it's always gonna be 50/50

[Anonymous No.11639799]

I suck at math but I'm good at trading. All of those formulas don't fucking matter.

[Anonymous No.11639919]

I majored in finincial math and had to take a few economics and finance courses. The amount of students in those classes that struggled with the most basic derivatives was astounding. And these were junior /senior level classes

[Anonymous No.11639964]

>>11639751
Probably because doing math isn't a part of the role or they'd get outed and they just have some underpaid nerd crunching the numbers.

[Anonymous No.11640112]

>>11639751
Because they have sell side analysts to back up everything they say. All they have to do is be able to explain numbers they can't calculate themselves and point to some graphs.

[Anonymous No.11640129]

>>11639919
Well said, even in my accounting courses which I took for fun (I was an economics & cs major), people struggled with basic mathematics. It was really sad because, this is at a top 5 accounting school in the world.

[Anonymous No.11640146]

>>11640129
US? This whole mentality of "it's ok to suck at math because we all suck at it" is really fucking shitty. Even the teachers in like elementary to highschool say this shit.

[Anonymous No.11640147]

>>11639751
dont they have formulas and programs that you just put numbers into?

[Anonymous No.11640158]

>>11639751
Because they are salesmen. They aren't there to do math or work in finance. They are there to sell you things you now think you need because one of their analysts made a pretty graph about their great fee structure.

[Anonymous No.11640160]

>>11639792

[Anonymous No.11640169]

>>11640129
Nice LARP. I'm a CPA and accounting requires very little math skill. From a bookkeeping perspective, it's just arithmetic and some algebra. Big 4-tier accounting involves mostly the application of rules and judgment.

[Anonymous No.11640345]

>>11639799
This is actually interesting to note. I think a similar analogy could be a Jet Fighter Pilot, to a Jet Fighter Engineer. The engineer knows the ins and outs of the vehicle, but that doesn't mean they'd have any clue how to operate themselves and the vehicle in a Dogfight. The pilot has some understanding, but is unlikely to know as much as an engineer (not always the case, especially when it comes to space travel). But they have the ability to actually use the vehicle, for a certain purpose.

Someone who knows how to price and hedge with a derivative, does not necessarily know how to trade them effectively.

I'm currently going through this video: https://www.youtube.com/watch?v=eHGvZVfuffg&t=339s

of an Order Book based trader just going through massive swings in his profit/loss, and managing large sizes, while he co-ordinates himself around a Spread trade that takes place between German and Italian bonds.

It's impressive to see what people are capable of.

I think there will eventually come a realization that instead of trying to "replace" people with algorithmic trading methods, people will look to enhance those who show innate ability.

[Anonymous No.11640556]

>>11639751
You retarded OP?
Sales has nothing to do with mathematics.
The math says you're going to lose money if you invest now. But your job is to con clients into investing 91% of their savings.

[Anonymous No.11640607]

If nerds are so smart why did long term capital management get BTFO

More like short term capital destruction lmao

[Anonymous No.11640958]

the only thing you need math on is engineering because shit will literally blow up if your math is wrong. just fake your math in everything else.

[Anonymous No.11640986]

>>11639751
Its basically a sales job, not to mention computers do all the work

[Anonymous No.11640996]

I am a very fucking good investor. I am also shit at maths. Whether it's stocks or crypto, I've literally never lost money thanks to my tungsten hands. You don't need math, you need business sense. It's a personality trait. Having good taste and knowing what can succeed and what can't isn't something you learn in school. Just like studying business won't make you a good businessperson, I would make you a good manager.

[Anonymous No.11641064]

>>11640147
Yeah it's called excel which is what every person in finance uses no one pushes numbers on paper anymore this OP is just a boomer faggot

[Anonymous No.11641074]

>>11640160
He's right though

[Anonymous No.11641186]

>>11639751
They end up like Nick Leeson

[Anonymous No.11641583]

>>11640607
High leverage + black swan events in Russia/Asia

[Anonymous No.11641631]

>>11639781
Ehh literally infinite times if you want to be 100% sure.

[Anonymous No.11641654]

>>11639751
They're either hired due to nepotism or their looks, and are just dead weight who spend their time in meetings or just taking credit for the work of the productive few.

[Anonymous No.11641661]

>>11639792
>>11641186
He didn't say it was a fair coin. The answer is you'd need to flip the coin an infinite number of times. A better qustion would be something like
> how many times would you need to flip a coin to be 95% sure the probability of heads is between 60% and 65%.

[Anonymous No.11641684]

>>11639792
>>11641186
He didn't say it was a fair coin. The answer is you'd need to flip the coin an infinite number of times. A better qustion would be something like
> how many heads would you need out of 1000 flips to be 95% sure the probability of heads is between 60% and 65%.

[Anonymous No.11642188]

>he still thinks finance and investing is about predicting trends and not insider trading off your connections and friendships

lmao the guys at the top are all half retarded and still make 1000x more than you because of the info they get at their weekly poker game or round of golf

[Anonymous No.11642887]

>>11639781
Actually this is a question math nerds could figure out themselves

While people like you had to learn how probability works, and be told the nature of coinflipping. Your lack of math ability came from your parents, so you should
stop insulting humanity and be happy to be just as poor as they were.

[Anonymous No.11642903]

>>11639792
Dont worry anon, the guy is math illiterate and thinks the things he had to learn from someone else are things a typical math uber cant figure out in 2
Seconds using only their head.

[Anonymous No.11642929]

>>11639751
bachelors in engineering is unironically the minimum level of mathematics to deal with reality coherently
everyone else is a tradesman

[Anonymous No.11642963]

>>11640160

[Anonymous No.11642979]

>>11640129
It is sad anon.
Too many people earn way more than they deserve.
All these jock frat boy investors think they deserve a huge salary bc they work hard, as if they were entitled to be rich just because they percieved themselves as working harder than everyone else.
Its like the janitor in a hospital making more than the doctors because he busts his ass for
12 hours a Day.
In reality the janitor
Doesnt make much, but he is humble and appreciates his earnings, while all these spoiled frat boy investors think their effort/time is worth shitloads of money because they wore a suit everyday while they barely passed business school.

[Anonymous No.11643025]

>>11640169
>larp
Hmm.. a little threatened are we?
All non innovative endeavors
Race to the bottom.
For you to think memorizing a procedure you could teach to a bonobo chimpanzee entitles you to a huge salary is hilarious. Go get hired in india to do the exact same thing you do now. Then youll get a Realistic sense of how little value you have to civilization...

[Anonymous No.11643044]

>>11642979
Do you believe those in science/maths/engineering don't get the recognition/remuneration they deserve? (compared to those in finance)

I ask this because I personally am quite saddened by how many people from STEM fields get drawn into finance, because of the money. I actually believe this is going to have negative repercussions, if too many people get involved with Speculation, rather than Innovation.

It's one of the reasons I hate Quantitative Finance.

[Anonymous No.11643045]

>>11640958
Do you fake being a
Heterosexual too?

[Anonymous No.11643076]

>>11640996
>t. has one good year as rookie investor and thinks hes accomplished.

If you dont understand math youre missing out on alot of valuable info that wont be missed by math ubers. In other
Words you will realize the diff between luck and talent when your luck runs out.

[Anonymous No.11643095]

>>11641064
Have fun getting steamrolled by people using math to make money that you cant understand.

[Anonymous No.11643101]

>>11642979
Reddit: the post

[Anonymous No.11643105]

>>11643095
>>11643044
friendly autist, do me

[Anonymous No.11643114]

>>11642188
You dont need insider information these days. The internet knows
All.

[Anonymous No.11643173]

>>11643044
Apple engineers make 100k a year.
Investors make
Shitloads more.
Its a big coalition of the banking system.
The overhead of a 10 trillion dollar bank should be no more than 1 billion a year to pay a few brilliant money managers and the computer programmers and encryptioners so that the bank app can run seamlessly on peoples
Smartphones.
Yet current banks employ tens of thousands of useless faggots who take away from what should be interest added to customers bank accounts.
Its obscene how many people on this planet think they should be paid while not producing anything of value to society.

[Anonymous No.11643202]

>>11643173
>Yet current banks employ tens of thousands of useless faggots who take away from what should be interest added to customers bank accounts.

I wouldn't call all those people useless. Who's going to assess all those loan applications? Who's going to help clients whoa ren't really comfortable with technology, and who want to do shit like open new accounts?

You shouldn't be so bitter, anon.

[Anonymous No.11643338]

>>11643202
I guess it's pretty stupid of me to say "don't be bitter", and yet myself go and dictate how the world should work.

But just part of negative repercussions I was talking about aren't just in terms of Innovation, but stuff to do with education.

https://www.youtube.com/watch?v=gjVDqfUhXOY

at around 14:43, James Simons (the Renaissance Technologies guy) touches on how there could potentially be a sort of Brain Drain from teachers in maths education, due to increased demand of those skill sets in other fields.

It's a hard situation to solve. And I guess I shouldn't be so hypocritical.

[Anonymous No.11643434]

>>11639792
Learn The Law of Large Numbers.


Also - look into how casinos work top kek

[Anonymous No.11643530]

>>11643434
Ain't no coin flipping machine in a casino

[Anonymous No.11643923]

>>11639751
My financial advisor is a retard but super hot, she just shills TD's latest managed funds when I meet with her but I put my money where I want. I can tell she is super successful. Guys will buy anything off a hot chick.