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/sci/ - Science & Math

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2203638 No.2203638 [Reply] [Original]

I already finished calculus I and II and linear algebra, what is the next math topic I should study for a career in finance and economics ?

>> No.2203667

that's all you would need. maybe differential equations.
actually fuck that.

all you need is shitloads of statistics.

>> No.2203694

>>2203638
Econometry
captcha: diftanceon undeate

>> No.2203722
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2203722

Get a degree or you cant do anything in finance.

>> No.2203752
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2203752

Coming from a guy who's finishing his master's degree in Finance:
The following must be known:
Advanced Econometrics
Probability and Stochastic Calculus
Numérical Finance (know the shit out of Matlab and Monte Carlo)
Derivatives 2, Financial Engineering, Structured Products.
Statistics for statisticians wanting to do statistics (very important one)
Econometrics for statisticians
Riskmetrics

(see a trend there?)
oh, and btw, good luck finding a job if you're not good with computers, something they obviously forgot to tell me when I enrolled with a Bsc in Economics, stupid me.
Hope you're an engineer.
Pic Related, what I feel like when reading Inefficient Markets.

>> No.2203762

>>2203752

lol not OP but sweet I just my major from engineering to BA with a specialty in finance, and I learned the shit out of matlab.

fuck yeah I knew it'd be useful

>> No.2203778
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2203778

>>2203762
Well you understood what was needed well before I did.
Now your only trouble will be to work enough, because fuck that ass load of work I get every day. The selection is fucking fierce, they want you to get discouraged. We were 150 starting the master, 80 after 3 months out of which 20 had average grade and higher, and finally we're only 35 in 2nd year.
Hope you have the will-power required, that's what can stop you now.

Pic is me , and you maybe some day, when I'll finish my degree

>> No.2203790
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2203790

Finally for the OP wondering, here's what I'm working on right now, to give you an idea.

>> No.2203808

>>2203790

motherfuck how long will that take?

like do you know how to do it, and it'll just take a while.

or do you have to look up a lot of shit to learn how to do it?

Not OP, but just curious

>> No.2203823
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2203823

>>2203808
Well that's the fun fact, the teacher gave this as a new topic. Consider the fact that we get about 4 new topics per week, and they are all this difficult. The learning curve is very steep. Personally, I work by guessing most of it, like "looks like he does this and this gives that" and I apply it again, then I find a meaning to it. But it's fucking crazy. I'll give you another insane example of what made me, and the 5 other students taking the course, vomit blood. Get ready and get a bucket nearby.

>> No.2203826

>>2203638
Differential Equations. You WILL need this sooner or later. If you go on for a masters/PhD, you will DEFINITELY need it.

>> No.2203831

>>2203823

wtf man wtf

how do you do that shit, i mean how do you learn that on your own.

I can't even comprehend that.

>> No.2203845
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2203845

I'm not gonna lie, there's no way, or maybe just a small probability, that I'd be able to get to an answer without seeing the solutions. Bear in mind that with the solutions, I took 4 hours to solve the first example I gave you.. So yeah, shit's hardcore where I'm at. And funny thing is, I know I do stuff that is WAY beyond the top colleges, and mine's like 7th in Europe, so it's rage inducing to see retards get awesome jobs when they didn't do a tenth of what I'm doing.

>> No.2203851

>>2203845

yeah i noticed that.. french start in your ss before..

Dude.. Is that really necessary? Like will you be writing formulas/programs like that from scratch to gauge investments and shit?

I mean why are they beating your ass over this :|

>> No.2203865

>>2203851
I'm from Switzerland, so I guess you understand we have a reputation in banking to preserve.. One of my teachers is managing a hedge fund, and he's a PhD in physics.. God the maths involved are so above me that I consider swallowing cyanide after each course. The teachers are so bad-ass, they use algorithmic trading arbitrage models that are so beyond any normal random banker that they make money of them, it's grotesque. I overheard two of them laughing the other day like "did you know that they still think we're doing ZCB with their money! haha what pathetic fools".
I have an interview with that guy for a job at his hedge fund. I shit you not when I'm preparing myself not to cry and be ridiculed when he'll quizz me.

>> No.2203873

>>2203865

holy shit :|

sounds hardcore.

Wtf are these people.

>> No.2203881

>>2203845
I don't think that problem is that hard. I never even studied that and i could probably figure that out in 30 minutes or so, max.

also, with finance, you can do shit loads of math, but at the end of the day EVERYTHING you do is based on historical data, and if something changes all you math is useless.

>> No.2203884

>>2203881
Well, I'm willing to bet that without the solution, you won't find it, even if you look for a long time, unless you are a visionary in statistics, because yes, that problem requires statistics.
As one of my colleagues told me, at his exams he was asked to "prove that his mother was a dude".

>> No.2203883

>>2203881
matter of fact, I could be wrong but i think this >>2203845 is actually just a standard calc 3 problem.

>> No.2203885

Maths fag here.

I laugh at your stupid Mathematics. You guys are worse than Engineers. Atleast, they know they are shit at Maths.

>> No.2203887

Physics here. Got any books you recommend, Finance guy?

>> No.2203898

>>2203885
solve it >>2203845

>> No.2203899

>>2203885
I have 2 friends that have finished their Master's degree in Theoretical Maths at EPFL , which is one of the hardest degrees to get, alongside theoretical physics, and they agreed that what I did was hardcore as well. The only difference with your degree, is that of the 30 that enter it, the 30 have their degree, whereas in Finance they just weed us out like hell, with only 20% tops finishing, and this adds a new dimension of stress that you lack.
For the physics guy, I have no idea, but you can read some fun stories here
http://www.scribd.com/doc/7372641/Heard-on-the-Street-Quantitative-Questions-From-Wall-Street-Interv
iews

>> No.2203906

>>2203899
>Timothy Falcon Crack

lol, what a name.

>> No.2203908

same poster as >>2203881
im a finance major. I wanted to major in math for a while, and then i realized real math with proofs sucked, and then i was going to major in a program called "Applied and Computational Mathematical Sciences" because i know that computer simulations are the future, but i didn't get in because of my shitty GPA, so I did finance instead. I figured, as a mediocre pure math major, the only jobs I would be able to do would be teaching, but I could be a superior finance major, and get good jobs. not sure if it was the right decision.

if i did it again, i would study either computer simulations, nanotechnology, or biology.

>> No.2203916

>>2203899

i'm a second year PhD student in category theory. I have friends who are doing PhDs in financial maths. The Maths they are doing is a joke and fucking easy.

>> No.2203917

>>2203908
Yes it is, I'd say. If I'd be able to turn back the hands of time, I'd go with either bachelor in maths or computer science, or even applied maths (which would be the best) and then switch to my master of finance. Shit would be so cash.

>> No.2203920

>>2203916
I don't know enough to say whether their maths are easy so I won't comment on that. I always thought PhD in theoretical maths is the most insane you could do, but I may be wrong. My friends told me they could work some days before the exam and pass with a high grade, which is impossible in finance. I personally engulf ritalin like candy to keep up.

>> No.2203930

>>2203920

Nah finance is stupid. The Maths, to me is like baby Maths. Pure Maths is the only hard Maths, the rest is retarded stuff like theoretical Maths.

But, trust me the people doing theoretical Maths and saying finance maths was hardcore are idiots. Take it from a person in second year doing category theory, which isn't even that insane compared to algebraic geometry.

>> No.2203938

Did any of you study Error Functions?

>> No.2203944

>>2203930
>retarded stuff like theoretical Maths.

>Theoretical mathematics

Theoretical Physics is essentially Mathematics with axioms corresponding to reality. What would Theoretical Math be?

>> No.2203955

if this financial math is so easy why the fuck aren't you assholes making tons of money?

>> No.2203956

>>2203944

Good point. Math isn't based on the scientific method, so none of it can be theoretical.

>> No.2203961

>>2203845
>>2203752

OP here, thanks for the advice.

>> No.2203965

>>2203930
>theoretical maths
I don't think you know shit about math

>> No.2203971

>>2203955

Is not all about math, there is an important qualitative analysis part.
I heard Hedge funds in wall street were reducing quant participation in their strategy by 20% because of their poor performance.