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  #48 (permalink)  
Old 18-03-2012, 12:43 PM
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Originally Posted by Anonymous View Post
What makes you think im still going to be in service. in fact that is most likely changing in a couple of weeks. However, even as i leave, i recognise the benefits of being in service that I will be giving up; that includes the benefits (had i eventually became a director/div director) such as the steady income stream and work/life balance, among other things. There is no need to put down others even if one picks a different route.

Again, there is no need to tell me about copulas and credit risk since im FE. The stochastic nature of credit risk can be simplified via conditional probability on gaussian RV, and the resultant integral can be solved simply using gauss hermite quadrature. Personally, i doubt people in the industry bother to model the forward interest rates stochastically. I won't if i were them as there is not much added value. A deterministic interest rate curve would be good enough. If things change, run again. So a normal PC will do. No need to be cheem for the sake of being cheem.
I rest my case - you are voting with your feet by leaving the civil service.
A word of advice
1) to have credibility - practice what you preach
2) if you are going to be FE in your next job, the industry standard is to treat any optionality product longer than 3year maturity to have stochastic interest rates. Please dont act like you know all like you have been in civil service, otherwise you will get sacked soon.

Good luck to your next role
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