Bubble Bubble

This week we've been touching so much on private equity, bubbles and efficiency.

In fact, look at what's happening around you. You know there's a bubble, but just when is it gonna burst?

I could give you a corny+technical+boring example of private equity (despite some arguing it's not one) but let's have a look at something still boring but more personal.

I being an actuarial student since last summer have got all hooked up with investment banking ambitions instead of actuarial. Maybe it's because I worked in a Big 4 and got myself exposed to more of the finance stuff. But probably not so much. It's really more like how, in a way, I decided to do actuarial: the wave.

Haven't you realized how glammed up investment banks are lately? How many finance students you've heard say they wanna work in IB? How many then can go on and on about what IB is but couldn't tell you much on why have they not considered sister jobs like global markets, equity research, or trading?

I myself being an actuarial student am also dragged into the happy bandwagon. I'm already rejected by two major IB's but I'm not worried. They only hire one or two out of the thousands of the online applicants. Unless I'm terribly outstanding. Unless I really get hooked up with some big shots and get hired outside of this process. But it's best one leaves such expectations alone. It works best that way.

So what's my point? Maybe there's another wave coming, among us more mathematically inclined students: quants. Quantitative analysts needs to have done alot of postgrad work, doesn't have to work as dreadfully as IB counterparts and still earn heaps. Imagine a senior quant could earn 500k till a million pounds a year.

So... I really wish I was able to do at least Honours. Too bad I'm not financially able to. But then again, even if I was able to, I still might not want to. Why? You'll never know what you'd like to do when you graduate. Learning skills are more important than learnt skills. And I'm already lucky enough to be here in Melbourne. After grad, it's all up to me!