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by BrentRitterbeck
4766 days ago
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What about those that go into risk management at a big Wall Street firm because they view this as the best use of their background? Would you rather have someone who didn't understand the mathematical intricacies of fixed income managing the risk of an entity capable of bringing an economy to a halt, or would you prefer that job to be taken by someone who knew what they were doing? |
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I am more worried about talented quants building/inventing new financial products which lead to further instability and //cause// risk.
From what I hear from friends who work in the field, they don't have much control over company policy and direction. At the risk of sounding provocative, I will say that quants are glorified code monkeys. The fact that they are really smart will not allow them to influence decisions. If it is not clearly illegal and it makes profits, it will be done halt or no halt.
The way I see it, the less "advances" in the financial sector there are, the better.