What job is becoming more and more in demand? QUANTS. What’s a Quant?
Think, BIG MONEY. Think SCIENCE. Think MATHEMATICS. Think STATISTICS. Think BROKERAGE FIRMS. Think HEDGE FUNDS. Think STOCKS, BONDS, COLLATERALIZED DEBT. Think FORECASTING the marketplace. THINK BIG BANKS. Now…put all that together into one word to describe the title of one job…You got it. THE QUANT.
Many months ago I brought this job to your attention in my Nugget titled, “…the Supreme Ultimate Job…” Well, this job is getting hotter and hotter. Is this job for you? Are you preparing your kids to move into such a job? Educational training for this job is HARD CORE as you will soon read.
Today in BLOOMBERG they explained the reasons why UBS has been hiring QUANTS, especially FEMALE QUANTS.(End Note #1)
In a nutshell, a QUANT is a moniker for a job title that describes a brilliant employee who uses QUANTITATIVE tools, such as mathematics, physics, etc., and combines those tools into mathematical models to help explain and to help forecast financial events. On average, those QUANT tools, QUANT outputs, reportedly far out-perform traditional tools which were, and continue to be, used to select and manage financial portfolios and individual financial instruments.
And, yes. Those disturbing algorithms that drive “High frequency” trading, (HFT), are examples of how productive QUANTS can be. In the financial markets, those algos that drive HFT and that so disadvantage individual day traders are indeed examples of models derived by smart QUANTS. Such talent is usually oriented by big firms to where their outputs can generate the highest profitability for their firms. Where there is high risk there is usually high profitability. So, you can imagine the pressure on QUANTS and their models to perform well. With job pressures comes great compensation.
WARNING: before messing around with your hard-earned savings, be sure to consult with a trained, certified, finanical planner or analyst. QUANTS, and their work, may be associated with riskier investments decisions. So, be sure to ask about the role QUANTS may play in your bank or brokerage as it affects YOUR portfolio.
- “There’s a Simple Reason Why UBS is Hiring So Many Quants” By Joeffrey Voegel. Bloomberg Markets. Sept 9, 2016. http://www.bloomberg.com/news/articles/2016-09-09/ubs-wealth-management-s-haefele-joins-battle-to-recruit-quants