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    (Original post by BarryBeTrippin)

    LMAO Is that a joke?

    Who designs insurance packages and derivative instruments?

    Who practices statistical arbitrage? etc...
    It's not a joke. Banks don't care how 'complex' your work is, they care about who makes them money. And the fact is a banking VP balancing leading deal teams with procuring new leads, is much more valuable to a bank than a quant who, is effectively, a trader's assistant.

    Sure, quants make a lot in quant hedge funds where their skills are applied to make money, but in a bank, the revenue generators are king.
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    (Original post by leavingthecity)
    Ignore this user in all discussions of Finance and Careers. His contribution is usually nonsense.
    He does sound like a massive troll actually.
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    Yes

    /endthread
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    (Original post by Princepieman)
    He does sound like a massive troll actually.
    And his aspiration is to be an African dictator. And head JP Morgans operations in Africa.


    Okkkkkkkkkkkkkk
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    (Original post by leavingthecity)
    And his aspiration is to be an African dictator. And head JP Morgans operations in Africa.


    Okkkkkkkkkkkkkk
    LOOOOOOOOOOOOOL

    Ok, I'm fully done. Not listening to him anymore if that's his aspiration, delusions of grandeur anyone?

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    (Original post by Princepieman)
    It's not a joke. Banks don't care how 'complex' your work is, they care about who makes them money. And the fact is a banking VP balancing leading deal teams with procuring new leads, is much more valuable to a bank than a quant who, is effectively, a trader's assistant.

    Sure, quants make a lot in quant hedge funds where their skills are applied to make money, but in a bank, the revenue generators are king.
    Keep believing that lol.

    Quants make the most money for banks, full stop.

    Early 2000s quants made billions for banks designing sub prime mortgage packages for example.

    Even for things as simple as model building for optimal mergers in IB etc

    If I'm honest I don't understand why a bank would waste its time hiring a non stats/maths/physics candidate.

    The candidate will be weaker, and less useful.
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    (Original post by Princepieman)
    LOOOOOOOOOOOOOL

    Ok, I'm fully done. Not listening to him anymore if that's his aspiration, delusions of grandeur anyone?

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    You know, it was this type of arrogant boy that made me decide to go into finance. I wanted to prove their ignorance and was curious to see the reality vs the crap they were spouting.
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    (Original post by debs20153)
    I know its possible however it is EXTREMELY diffucult to do
    It's not - it's easy!

    (Original post by Princepieman)
    LOOOOOOOOOOOOOL

    Ok, I'm fully done. Not listening to him anymore if that's his aspiration, delusions of grandeur anyone?
    I was thinking more like delusions of sexiness. Oh wait, did I say delusions? I meant facts!
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    (Original post by Princepieman)
    It's not a joke. Banks don't care how 'complex' your work is, they care about who makes them money. And the fact is a banking VP balancing leading deal teams with procuring new leads, is much more valuable to a bank than a quant who, is effectively, a trader's assistant.

    Sure, quants make a lot in quant hedge funds where their skills are applied to make money, but in a bank, the revenue generators are king.
    A top quant job is with Renaissance or Jane street though, where salaries are generous.
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    (Original post by throwawaycon)
    A top quant job is with Renaissance or Jane street though, where salaries are generous.
    Definitely. Jane street and co are where quants thrive/see the most upside, it's unfortunately not the case for quants working in banks.

    Good point!

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    this thread is downright pitiful, to put it nicely
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    (Original post by gr8wizard10)
    this thread is downright pitiful, to put it nicely
    Yep

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    (Original post by King Scorchy)
    It's not - it's easy!



    I was thinking more like delusions of sexiness. Oh wait, did I say delusions? I meant facts!
    If it was so easy, you would have done it by now.
    There are many opportunities for businesses but with high risk since 80% fail within the first 18 months.
    You're making ridiculous points with no evidence to back yourself up.


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    (Original post by djibbo)
    If it was so easy, you would have done it by now.
    There are many opportunities for businesses but with high risk since 80% fail within the first 18 months.
    You're making ridiculous points with no evidence to back yourself up.
    See, that's what stops people from achieving massive things.

    You could say the same about guitar. 80% fail within the first 18 months. The rest pick that flippin' guitar back up and become masters. What percentage of people that learn to play guitar actually follow it through and end up as virtuosos? Not many, because the longer they go, the more likely they are to give up (due to a whole multitude of reasons).

    You can apply the same reasoning to making billions. The longer you go, the more you know how to do it, but the longer the period of time (or the harder the effort), the less the amount of people that go all the way.

    People are generally weak and lazy - seriously.

    If you want billions, you can have it.

    As for my billions, I'm 25 now. I started on this when I was 24 - so I have only just started out.

    So it's as if you're asking me why I'm not a virtuoso at guitar yet when I only started last year. And saying that, it doesn't mean that everyone masters something in the same time. Most people would only devote, say, one hour a day (or a few hours) learning to play guitar. And they would have many days where they didn't even play! So what would happen if one person decided to practice guitar, 14 hours a day, 7 days a week?

    That person would become a master fast. And you can apply similar reasoning to making billions.
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    (Original post by King Scorchy)
    See, that's what stops people from achieving massive things.

    You could say the same about guitar. 80% fail within the first 18 months. The rest pick that flippin' guitar back up and become masters. What percentage of people that learn to play guitar actually follow it through and end up as virtuosos? Not many, because the longer they go, the more likely they are to give up (due to a whole multitude of reasons).

    You can apply the same reasoning to making billions. The longer you go, the more you know how to do it, but the longer the period of time (or the harder the effort), the less the amount of people that go all the way.

    People are generally weak and lazy - seriously.

    If you want billions, you can have it.

    As for my billions, I'm 25 now. I started on this when I was 24 - so I have only just started out.

    So it's as if you're asking me why I'm not a virtuoso at guitar yet when I only started last year. And saying that, it doesn't mean that everyone masters something in the same time. Most people would only devote, say, one hour a day (or a few hours) learning to play guitar. And they would have many days where they didn't even play! So what would happen if one person decided to practice guitar, 14 hours a day, 7 days a week?

    That person would become a master fast. And you can apply similar reasoning to making billions.
    Come back in 30 years and tell us again when you have some credibility.

    Bye.
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    (Original post by leavingthecity)
    Come back in 30 years and tell us again when you have some credibility.

    Bye.
    I don't need to, it's a fact.

    Just like you don't need to become a rocket scientist to know how to do it.
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    (Original post by King Scorchy)
    I don't need to, it's a fact.

    Just like you don't need to become a rocket scientist to know how to do it.
    Obvious troll.
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    (Original post by leavingthecity)
    Obvious troll.
    Nope, there's a science to making money, just like with everything else.
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    (Original post by King Scorchy)
    Nope, there's a science to making money, just like with everything else.
    There's a massive social aspect too.

    Sorry, explain rocket science to us all?????
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    (Original post by leavingthecity)
    There's a massive social aspect too.

    Sorry, explain rocket science to us all?????
    All I'm saying is that if you try, you can make billions of pounds.

    And it's not difficult either.

    The same goes for lots of things. If you wanted to become a rocket scientist, all you need to do is learn how to do it. Same with making billions.
 
 
 
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