Please take a look at this lengthy article from today's Financial Times. The article concerns the quantitative financial model building taking place in the engineering faculty at University College London. I find it a little odd that this is taking place in the engineering faculty but not surprised that it is happening.
Years ago I wish I had followed the thought that I had in which I believed that mathematicians, physicists and other scientists and engineers had a lot to offer the accounting and economics profession. I have been proven right and in this article there is a telling insight into what I believed but did not know.
"Mirghaemi was hired by BNP Paribas last summer. A few months later, her boss – a trader for 37 years – mentioned that he could never work out the simultaneous price and position of a trade. On the spot, Mirghaemi wrote down a cosine formula from physics useful for measuring electromagnetic waves. “He was just looking at it,” she said. Mirghaemi emphasised her respect for her seniors at the bank but she said that she felt different. “I think I come from the new generation,” she said, “looking at the finance, the economic, the engineering, the computing altogether.”"
The article can be found here and forgive me if you have to subscribe to read it: http://www.ft.com/cms/s/2/0664cd92-6277-11e1-872e-00144feabdc0.html#axzz1o3Mb7dBx
Duncan Williamson
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