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You're absolutely right, Sir Connor, but that begs the question... What defines a "qualified" quant? A qualified pilot learned how to fly a plane. A qualified doctor went through medical school. However, how do you define someone who's "qualified" to do well in the markets? Doesn't that beg the question that if there *were* a formulaic way to be qualified to be assigned these high-risk high-reward responsibilities that wouldn't everyone be making a profit who could get their hands on these "qualified" individuals? Which also leads me to another question...if the model of the "pure" quant otherwise becomes a professor in a highly quantitative field, why is it that the big firms go and specifically HIRE PhDs to do research? Why can't they outsource their research to respectable quant finance colleges or individuals? What if the big firms would put quant professors in their pocket and have their research be done by the professors as their research field? I know here at Lehigh, we have one "technical" quant (mix of genius/programming), who happens to be my favorite professor, and one "pure" quant--the professor that teaches stochastic calculus (which I didn't get to sit in on! Rargh!). What keeps places like the big quant funds from saying "we'd like you to investigate into such and such a field"?
You're absolutely right, Sir Connor, but that begs the question...
What defines a "qualified" quant? A qualified pilot learned how to fly a plane. A qualified doctor went through medical school. However, how do you define someone who's "qualified" to do well in the markets?
Doesn't that beg the question that if there *were* a formulaic way to be qualified to be assigned these high-risk high-reward responsibilities that wouldn't everyone be making a profit who could get their hands on these "qualified" individuals?
Which also leads me to another question...if the model of the "pure" quant otherwise becomes a professor in a highly quantitative field, why is it that the big firms go and specifically HIRE PhDs to do research? Why can't they outsource their research to respectable quant finance colleges or individuals? What if the big firms would put quant professors in their pocket and have their research be done by the professors as their research field? I know here at Lehigh, we have one "technical" quant (mix of genius/programming), who happens to be my favorite professor, and one "pure" quant--the professor that teaches stochastic calculus (which I didn't get to sit in on! Rargh!). What keeps places like the big quant funds from saying "we'd like you to investigate into such and such a field"?
