I had another great conversation with Agus Sudjianto around machine learning models, LLMs, risk management, model validation, and building culture. Agus recently retired from Wells Fargo and is now enjoying a variety of side projects including working at H2O.ai, teaching model validation at UNC, and I believe a few other projects which may come to light within the next year.Website:https://www.FancyQuantNation.comSupport the channel:https://ko-fi.com/fancyquantQuant t-shirts, mugs, and hoodies:https://www.teespring.com/stores/fancy-quantConnect with me:https://www.linkedin.com/in/dimitri-biancohttps://twitter.com/DimitriBiancoTiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

Zach Creighton is a quantitative finance recruiter and founder of Hemans. Hemans is a premier staffing and search agency with specialization in the Financial Services Corporate Governance sector. Zach talks about his journey into the career of recruiting, misconceptions about recruiters, sourcing talent, and tips for those looking for jobs in the quantitative finance space.Zach's LinkedIn:https://www.linkedin.com/in/zachary-creighton-14b080a0/Hemans:https://www.hemanstalent.com/Tiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

I had a great time talking with Stan Uryasev and learning about his journey to quantitative finance. Stan is one of the authors of the original paper on Conditional Value at Risk (CVaR). CVaR is taught in almost every finance program and has had a large impact on the finance community. Stan is also a professor and endowed chair of Stony Brook's Quantitative Finance program which includes a Masters program and a PhD program. We will also discuss some mathematical art from his wife Oxana Uryasev about the Gabriel Horn.Stan's Website:http://uryasev.ams.stonybrook.edu/Tiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

From 2020 until today (7/21/24), the economy has really come into the main conversation especially with inflation as bad as it has been. I bring on economist and personal friend C.R. Olschwang to discuss what is currently happening as well as some general economics around labor, supply, demand, consumption, and business.Tiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

A fun interview with Alexander Unterrainer on KDB and building careers in quantitative finance in London. I have heard a little about KDB over the years but have never used it. Today I sit down with Alexander to learn a bit more about it and how he has built a career on it. He has also been blogging for over a year on how to program in KDB+ which is also known as KDB or q.KDB Learning Blog:DefconQhttps://www.defconq.tech/blog/Go-To%20KDB/Q%20Learning%20ResourcesConnect with Alexander on LinkedIn:https://www.linkedin.com/in/alexanderunterrainer/Book recommendation (affiliate link):"q for Mortals"https://amzn.to/3VsE8PDEpisode also found on YouTube:https://youtu.be/cQmKQaJFZFgTiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

Jonathon Emerick is an energy trader and quant who also has a YouTube channel (QuantPy). We discuss his journey coming from chemical engineering to quantitative finance which included a Masters of Financial Mathematics. Topics covered in our discussion range from energy markets to risk management to YouTube and day trading.Jonathon Emerick:https://www.linkedin.com/in/jonathon-emerick-407224119/https://www.youtube.com/@QuantPyTiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

Since I just turned 35 years old, I figured I would a podcast episode on the journey and the lessons I learned. It was a mixed bag of great years, some struggles, and now coming out the other side. Quantitative finance is a wild ride and never the same for any two professionals.Reflecting on 30 Years: The Journey to Becoming a Quanthttps://youtu.be/rGdfR66Dl4c?si=4A4hWtK8uP3KJQSBTiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

As many of you know I work in a high paying field and rub shoulders with many wealthy people. That being said, I didn't grow up around Wall Street or any other high powered field. I was an average American who took an interest in quantitative finance and ended up falling in love with statistics and economics. I tend to understand people from a variety of backgrounds because I wasn't sheltered in one group. This perspective has allowed me to understand some of the biggest issues America faces however it is very frustrating sitting in the middle. No one wants to be in the middle anymore as the rise of the internet has made it so easy to segregate people based off of race, religion, social status, wealth, politics, and many other random groups.We need to come together as a nation and embrace what makes America unique. The values of capitalism, family, freedom, and hard work seem to have become taboo as the new "acceptance of everyone" mentality continues. There is right and there is wrong but there is also a need for deeper discussions and debates on topics.Tiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

Should you have friends at work?Of course! You need a network around you. You need people to talk to who can relate to you. It makes work easier as you understand your colleagues better, it helps find work in the future, and it makes it enjoyable to go to work.That being said, I rarely ever hang out with my colleagues outside of work. However I do grab lunch with past colleagues and my Santander friends did all text and call congratulating me on my new daughter.Website:https://www.FancyQuantNation.comSupport:https://ko-fi.com/fancyquantQuant t-shirts, mugs, and hoodies:https://www.teespring.com/stores/fancy-quantConnect with me:https://www.linkedin.com/in/dimitri-biancohttps://twitter.com/DimitriBiancoSupport the show

A subscriber asked how I paid for my masters degree as they are very expensive. The short answer on how I paid for it was working part-time and taking out government loans. For my undergrad my parent's paid the first 1.5 years and then I got married and was poor so the school covered my tuition. I also worked two part-time jobs during my undergrad to pay for rent, books, food, and other necessities. I would recommend students really focus on their school work when possible however if you can't afford school, you need to work.Tiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

A subscriber asked how I manage my family, working as a quant, two YouTube channels, and a fair amount of hobbies including my homestead. There are really four tips that allow me to manage my schedule. It is also important to realize I do not succeed at everything. Social media makes it look like everything is running smooth with minimal stress however my life can be very stressful however I find the rewards from juggling so many thing worth the effort. So here are me four tips:1) Repetition2) Paper Planner3) Advanced Prioritization4) PerspectiveSupport the show

An industry professional asked me why is it so hard to get changes made within a company. They had made some suggestions for improving model validation however they were told there were resource constraints. Resource constraints are very real however this often includes company politics. For example, even if your team can make changes that will improve efficiency, save money, and great better outcomes it will disrupt other teams. As a manager or department head you now have to convince other departs to make the changes which will cost them and money. This impacts company and team performance in the short-run which impacts their bonuses. It is also important to realize that many projects and changes will fail. Failures cost more time and money which is also a consideration.As advice, ask yourself, am I willing to lose my job over this change? If the answer is yes, then push for the change really hard. If the change is needed but not critical you might consider just waiting and asking later down the road. Resources could change or people could move jobs making the request easier.Tiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

In quantitative finance I hear a lot of students say, "I love money" implying that will make them good at quant finance. It is a very shallow statement and one that shows the student hasn't thought much about that statement. The students that do truly love money for the sake of money are shallow people that won't make it in quant finance. Now that being said, I think many students making the statement either find economics interesting which covers how money transfers value, stores value, and how people create value. And or they love what money can do for them. Money can buy you things such as experiences, assets, or even provide financial freedom which is why people save or invest for retirement.So before you tell someone you love money, think twice. Communicating why you would be a good fit for finance or quant finance has nothing to do with loving money. Those that excel at quant finance do so because they love stats, math, and understanding how the world works.Support the show

The biggest lie in quant finance is that you can do everything required at the highest level of a model. This includes data engineering, model development (quant research), implementation (quant dev), and be the end user (often a trader or operations team). This full stack quant does exist however they are never the best at everything and they often work in a very specific niche. Examples of a niche could be, auto loans, equity HFT, commodities, securitization, or etc. The systems, languages, math, stats, financial theory, and business uses are all different.I would encourage people to focus on one main area (data engineer, quant, quant dev, or business user) and dig as deep as possible. There are a lot of topics inside of each of these and it is easier to jump around business types than to try and cover too many areas with non-overlapping skills. Support the show

For this Thanksgiving season I would like to express my gratitude for my dad. My dad was a traveling salesman and the reason my mom was able to be a stay at home mom. The one skill that I am most grateful for is my work ethic. I learned to work along side my dad as a kid growing up. The example my dad set helped engrain in my the need and desire to work. I spent a lot of my childhood working on our house, cleaning cars, or traveling across the country for my dad's job.Support the show

As Thanksgiving is this week I wanted to reflect on my gratitude for my mom. My mom was a stay at home mom and was lucky enough to be able to stay home and spend a lot of time with me as a child. Many of the life lessons around manners, religion, and domestic skills such as cooking and cleaning all came from my mom. My mom's attitude towards education is also what kept me somewhat engaged as a child with school even though I did not like attending when I was a kid. Having kids of my own has also helped me realize the amount of time, effort, and pain it takes to raise kids. For these reasons I am very grateful for my mom and the effort she put into me.Support the show

Understanding performance reviews is challenging especially if you have not worked at a variety of firms. There will always be a human judgement portion which is not a hard science. That being said, reviews should be very specific to each position. When I moved from an individual contributor to a manager role, I was not happen that my annual review was average. Over the last 5 years I had always performed above average. What I didn't understand was that I was now being judged and reviewed as a manager. Did I build better models or conduct better validations than most of the team? Yes. Was I more productive? Yes! Did my employees improve on their performance? No. It was my job to perform individual contributor work well however it was now also my job to get my employees to increase their performance. As a team were were average. Managers are judged by team performance just as much as individual performance.My best advice is to really look inward and figure out what you need to work on. This is always hard as we view ourselves differently than managers but this will help you become a better employee and person.Support the show

Many things make legends who they are. It seems the commonality is the ability to perform at a very high level over an extended period of time. Looking at Fischer Black, Peter Carr, Rick Rubin, George Box, Gilbert Strang, and John Nash it is interesting to see so many difference between them yet they have all had significant contributions to their area of expertise. Soft skills seem to play some part of this title of being a legend. There are many people who made one contribution but seem to have faded and forgotten.For quants it seems one must contribute academic ideas as well as have some sort of unique difference that helps others. Peter Carr's legacy seems to be amplified by his generosity of time and ability to teach. I would argue the success of making money contributes very little to being a quant. Investors and traders are very different than quants.Rick Rubin Interview (Joe Rogan):https://open.spotify.com/episode/5oDyN0CFjEwClqjZxJQf9OGilbert Strang Interview (Lex Fridman):https://youtu.be/lEZPfmGCEk0?si=G5K6HpS4LkftujChMIT Course - Gilbert Strang:https://youtu.be/ZK3O402wf1c?si=m8QWrXTeVWVi086GTiny Expeditions - A Podcast about Genetics, DNA and InheritanceExplore the exciting world of genetics in an easy-to-understand way with Tiny Expeditions.Listen on: Apple Podcasts   SpotifySupport the show

As grad school programs and undergrad programs are starting up it is important to get the most out of the time you are there. School seems like it goes slow however by the time you graduate and have been working a few years it seems like long ago.1) Network with a wide range of students.2)  Do informational interviews with alumni and industry practitioners to learn what specialty you want to work in after graduation.3) Lean In! It is very challenging to balance the social aspects of grad school with the educational aspects. Focus more on learning and networking instead of optimizing your grades. Realize you will be graduating soon and will not have the same amount of time to really focus on your education. Support the show

As a book review I give "Operation Paperclip" 5/5 stars! I'm not typically a big fan of popular paperback books (non textbooks).The dilemma in the books shows a brief insight into some of the horrible killings and crimes as well as the potential or perceived need for the science to end WWII with Japan as well as fend of Russia (cold war). Determining who was of value was challenging and many of the crimes were swept under the rug. As someone who practices science it is understandable that we need break throughs especially when war is involved. However on the other hand the true Nazis needed to be held accountable.Science funding fell off in the US and it seems to be negatively impacting progress in both the public and private sectors.I meant Eric Weinstein not Bret Weinstein however they both have a similar stance. Eric states more of the details of the lack of funding historically.My Life as a Quant:https://amzn.to/3Kn3h9R (my affiliate link)Eric Weinstein:https://open.spotify.com/episode/7MDxyrrhD7gC7XMRwB0ulvBret Weinstein:https://youtu.be/pRCzZp1J0v0Website:https://www.FancyQuantNation.comSupport:https://ko-fi.com/fancyquantQuant t-shirts, mugs, and hoodies:https://www.teespring.com/stores/fancy-quantConnect with me:https://www.linkedin.com/in/dimitri-biancohttps://twitter.com/DimitriBiancoSupport the show