your information is not correct for Shanghai. Shanghai's policy is to allow all the kids below 10th grade to join local school regardless their hukou status. Beijin probably has more restrictive policy. For people not living in China, Shanghai is a city with population of 23 million. This is larger than population of a lot of countries. If Shanghai's system is good enough to get this kind of result, I think on state level, US should also be able to achieve better performance. From local news, There are 6374 students from 155 school who took the test among population of over 90,000 15-year old.
I thumbed through the book but not impressed. The author probably has used excel as best as any one can in doing the task he intends. But for most of people, the effort to acquire the skill by reading the book is not well-spent, since one can probably learn other tools which really intended for scientific analysis.
For statistic packages, R probably is much better, though I would prefer SAS. Try a huge data set (200MB, and put it in excel, your system will crawl before excel crashes, but in SAS, it will be really fast, and provide much more statistics. How much faith do you have in Excel's statistical function anyway? I don't.
As for differential Equations, I would try matlab, if I really doing NA, I will choose netlib's packge anytime over Excel.
One can know Excel really well, and bend it to do all kinds of job, but in the end, it can only do that much. you probably can use bash to write a trading system, but why bother?
Re:More technical introduction to Quant analysis?
on
My Life as a Quant
·
· Score: 1
Hull's book is very empirical, it contains a lot of details of how markets work. Not a very sound theory book.
Wilmott has several versions of books on QF. He pretends to be Feynman, it is always laughable. Most of his approach is based on PDE, not martingale method (SDE). But it is very good intro book.
I guess many physicists would like Baxter and Rennie's book. It is written in a style of your fellow graduate student giving you two hour "how it is done" lecture. Fast and straight to the point, not much detail and proof. But very effective for solving problems. (mostly it is about SDE and girsanov theorem.) nicely done.
An advance book would be Duffie's Dynamic asset pricing, it is very pretentious book, the guy pretends to be a mathematician. The book is very dense and concise. If you know the stuff, you would marvel at the author's presentation. (He only used half page to describe Probability space.) In my opinion, it is more like a book length review than a textbook, not recommended for beginner.
My favorite is Bjork's " Arbitrage Theory in Continuous Time". It has right balance of math and intuition. A great book for a learner.
On implementation side, there are a free C++ quantlib you can check out, also a book by Duffy about using C++ in pricing financial instrument.
Your story about peoplesoft is amazingly like mine at my university. We had a telephone clas registration system (backend with mainframe), and webct for course grade and material. It is not pretty but working. Then, the university "upgrade" to the peoplesoft. Most of people are locked out of the system because peoplesoft has limited capacity to accept many clients at the same time. Students are given timeslot (Yes!) so that they can get onto the registration system. They also has funny numerical ID, no one can remember. Registra now are occupied with handling out ID. This is biggest IT upgrade flop I saw up close.
I have heard several similar stories at other campuses. I have to give credit to our UITS, the system now finnally worked. But why the hassle?
There is no need to prove the superiority of Firefox. The only thing you need to do is to link terrorism with IE, paint IE as creation by godless entity, while Firefox is used by US government and US army in the fight against terrorists, protect US against evil, if necessary put a cross on the head of the fox, Now 51 million people will use firefox.
Re:While Sunss marketing improved they still rock
on
Merrill Lynch Rips Sun
·
· Score: 1
My feeling about SUN is that they need a strategic change. It is obvious that Intel+linux is cutting their profit margin. Market envoirment has changed, while SUN is still touting it technology prowess. I have no doubt about its technology capabilities. But as a business, it has to convince its customer the value proposition. From I read from newspaper, SUN's attitude towards Linux is half-hearted at best. The deal with SCO and semi-FUD campaign about indemity of linux just show that SUN upper-management is still in the denial and delay mode.
It seems possible that one can create better compression scheme for text. If you fix both ends of a word, order the middle letters, then there are sequences appears more frequent than in nature writing. The trick is to unscramble the word based on the context. The scheme probably will introduce some errors.
I tried the x server on both Win95 and WINNT, They are OK, KDE can also be run(WINNT), but very slow. crash often if you run KDE applications. I don't know why. I mainly use it for X-tunnelling with SSH to connect with my linux machine. NO annoying 30 minutes limit by X-win pro. Very nice port.
Bnetd's developers certainly do wonders with those reverse engineering hack. The only drawback I can see is their limited ambition. Why not implement an open protocol to offer a platform so that all the rest of the game developers can write networked games? It's certainly true that Blizzard has the advantage of popular games. But I doubt that those developers have enough resource to keep up with all the strange packets designed by Blizzard intentionally or unintentionally. I also doubt that other game companies will sit idly to let Blizzard grab all the share. Blizzard's lawsuit won't bear the results they expect. It is unthinkable that a gamer will sign up for a service just be able to play one or several games designed by Blizzard.
The idea is wonderful, but a little bit naive, To achieve an objective, it is essential to consider the cost of the method.
To collect the open information, process them, make decision on what is important, what is not, involves enormous cost (in term of money and time), This is what economists call transaction cost. If those effort is costless, all the firms will collect all the consumers info, do the direct marketing. You will continue to put your effort into certain endeavor if it yields more results than you put in. otherwise, you will put your effort into other method with better prospective to get more out of your effort.
What at issue is not that CIA, FBI have less information, but how to do with all the collected information, and act on them. The recent report of 7 out 19 hijackers being noticed before 9.11 is the case for the point.
I think you missed one critical point of the article. The IOS envisioned by the authors is very much like a market system. In a market system, you provide a service and get paid, and you don't know about the purpose of the service, considering the hotel lending rooms to 9.11 terrorists. In this case, the owner certainly did a bad thing, but he did hundreds good things in other times. The anynomous nature of market system is non-discrimate.
One thing the article didn't pay too much attention is the central servers, who manages them? how is it funded? Without is, it is like a market without the banking industry.
Anyway the article is great. It is nice to see that economicists can contribute to IT now.
I wish that open source systems will be adopted because their inherent qualites, not because government mandate. It will be ironic, that the free source movement which aims to defend liberty has to win a upper hand with the help of government regulation?
Slashdot Mirror
your information is not correct for Shanghai. Shanghai's policy is to allow all the kids below 10th grade to join local school regardless their hukou status. Beijin probably has more restrictive policy. For people not living in China, Shanghai is a city with population of 23 million. This is larger than population of a lot of countries. If Shanghai's system is good enough to get this kind of result, I think on state level, US should also be able to achieve better performance.
From local news, There are 6374 students from 155 school who took the test among population of over 90,000 15-year old.
I thumbed through the book but not impressed.
The author probably has used excel as best as any one can in doing the task he intends. But for most of people, the effort to acquire the skill by reading the book is not well-spent, since one can probably learn other tools which really intended for scientific analysis.
For statistic packages, R probably is much better, though I would prefer SAS. Try a huge data set (200MB, and put it in excel, your system will crawl before excel crashes, but in SAS, it will be really fast, and provide much more statistics. How much faith do you have in Excel's statistical function anyway?
I don't.
As for differential Equations, I would try matlab, if I really doing NA, I will choose netlib's packge anytime over Excel.
One can know Excel really well, and bend it to do all kinds of job, but in the end, it can only do that much. you probably can use bash to write a trading system, but why bother?
Hull's book is very empirical, it contains a lot of details of how markets work. Not a very sound theory book.
Wilmott has several versions of books on QF. He pretends to be Feynman, it is always laughable. Most of his approach is based on PDE, not martingale method (SDE). But it is very good intro book.
I guess many physicists would like Baxter and Rennie's book. It is written in a style of your fellow graduate student giving you two hour "how it is done" lecture. Fast and straight to the point, not much detail and proof. But very effective for solving problems. (mostly it is about SDE and girsanov theorem.) nicely done.
An advance book would be Duffie's Dynamic asset pricing, it is very pretentious book, the guy pretends to be a mathematician. The book is very dense and concise. If you know the stuff, you would marvel at the author's presentation. (He only used half page to describe Probability space.) In my opinion, it is more like a book length review than a textbook, not recommended for beginner.
My favorite is Bjork's "
Arbitrage Theory in Continuous Time". It has right balance of math and intuition. A great book for a learner.
On implementation side, there are a free C++ quantlib you can check out, also a book by Duffy about using C++ in pricing financial instrument.
Your story about peoplesoft is amazingly like mine at my university. We had a telephone clas registration system (backend with mainframe), and webct for course grade and material. It is not pretty but working. Then, the university "upgrade" to the peoplesoft. Most of people are locked out of the system because peoplesoft has limited capacity to accept many clients at the same time. Students are given timeslot (Yes!) so that they can get onto the registration system.
They also has funny numerical ID, no one can remember. Registra now are occupied with handling out ID. This is biggest IT upgrade flop I saw up close.
I have heard several similar stories at other campuses.
I have to give credit to our UITS, the system now finnally worked. But why the hassle?
There is no need to prove the superiority of Firefox. The only thing you need to do is to link terrorism with IE, paint IE as creation by godless entity, while Firefox is used by US government and US army in the fight against terrorists, protect US against evil, if necessary put a cross on the head of the fox, Now 51 million people will use firefox.
My feeling about SUN is that they need a strategic change. It is obvious that Intel+linux is cutting their profit margin. Market envoirment has changed, while SUN is still touting it technology prowess. I have no doubt about its technology capabilities. But as a business, it has to convince its customer the value proposition. From I read from newspaper, SUN's attitude towards Linux is half-hearted at best. The deal with SCO and semi-FUD campaign about indemity of linux just show that SUN upper-management is still in the denial and delay mode.
It seems possible that one can create better compression scheme for text. If you fix both ends of a word, order the middle letters, then there are sequences appears more frequent than in nature writing. The trick is to unscramble the word based on the context. The scheme probably will introduce some errors.
I tried the x server on both Win95 and WINNT, They are OK, KDE can also be run(WINNT), but very slow.
crash often if you run KDE applications. I don't know why. I mainly use it for X-tunnelling with SSH to connect with my linux machine. NO annoying 30 minutes limit by X-win pro.
Very nice port.
Bnetd's developers certainly do wonders with those reverse engineering hack. The only drawback I can see is their limited ambition.
Why not implement an open protocol to offer a platform so that all the rest of the game developers can write networked games? It's certainly true that Blizzard has the advantage of popular games. But I doubt that those developers have enough resource to keep up with all the strange packets designed by Blizzard intentionally or unintentionally. I also doubt that other game companies will sit idly to let Blizzard grab all the share. Blizzard's lawsuit won't bear the results they expect. It is unthinkable that a gamer will sign up for a service just be able to play one or several games designed by Blizzard.
Wish Bnetd's developers good luck.
The idea is wonderful, but a little bit naive, To achieve an objective, it is essential to consider the cost of the method.
To collect the open information, process them, make decision on what is important, what is not, involves enormous cost (in term of money and time), This is what economists call transaction cost. If those effort is costless, all the firms will collect all the consumers info, do the direct marketing. You will continue to put your effort into certain endeavor if it yields more results than you put in. otherwise, you will put your effort into other method with better prospective to get more out of your effort.
What at issue is not that CIA, FBI have less information, but how to do with all the collected information, and act on them. The recent report of 7 out 19 hijackers being noticed before 9.11 is the case for the point.
I think you missed one critical point of the article. The IOS envisioned by the authors is very much like a market system. In a market system, you provide a service and get paid, and you don't know about the purpose of the service, considering the hotel lending rooms to 9.11 terrorists. In this case, the owner certainly did a bad thing, but he did hundreds good things in other times. The anynomous nature of market system is non-discrimate.
One thing the article didn't pay too much attention is the central servers, who manages them? how is it funded? Without is, it is like a market without the banking industry.
Anyway the article is great. It is nice to see that economicists can contribute to IT now.
I wish that open source systems will be adopted because their inherent qualites, not because government mandate. It will be ironic, that the free source movement which aims to defend liberty has to win a upper hand with the help of government regulation?