If you want to work in quant finance, don't do MFE/CQF. Get a degree in math, physics, CS or EE like ~90% of existing quants.https://twitter.com/paulg/status/1416002575862804482 …
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Replying to @SouadH9 @macrocephalopod
And most physicists, EE.. Etc aren't trained in stochastic analysis (well except those do who choose a theoretical physics path or those working in Fluid Mechanics/Turbulence theory)
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Replying to @SouadH9 @macrocephalopod
Tbh most mathematicians aren't either. In neither stochastic analysis, nor statistics (properly). Hence the constant battle about model parameter sensitivity etc
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Replying to @veronica_humble @SouadH9
A huuuuuuge part of quant finance nowadays (maybe > 50%) does not need stochastic calculus at all, or only needs the very basics.
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Replying to @macrocephalopod @veronica_humble
Most of PDEs pricers are stochastic calculus based. If you're not doing the math somebody already has done it already and programmed the solver you're currently using. However if you work in quant risk you cannot escape the math at all.
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Replying to @SouadH9 @veronica_humble
I'm talking about the part of quant finance that doesn't touch options at all. Electronic trading, market making, execution, stat arb, quant hedge funds, fixed income, risk (on delta one). That is probably > 50% of quant nowadays!
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Replying to @macrocephalopod @SouadH9
Basic statistics is helpful though :) I 'm constantly amazed how few people a) get the basic concepts on an intuitive /automatic level b) think that various probability/stats questions are easy and numerical intuition generally works
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Absolutely! Just not stochastic calculus specifically.
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