Quantitative Finance

The field of quantitative finance is rich and interesting. When I mention the term "Financial Engineering" many people quip "Oh, now finance too has engineering..". Well, its aptly called that way because of the application of mathematical and engineering methods to problems in finance. But there is a lot of physics too. When I see Brownian Motion being applied to stock prices, there is a part of me thatsvery happy to use a tiny bit of the statistical physics that I learnt.
2005 is the world year of physics. Someone mentioned this is because, in 1905, Einstein published three most important papers in physics history - general relativity, photoelectric effect and brownian motion. Its surprising how a 100 years later brownian motion is applied in economics and finance to study stock prices like random motion of particles in a fluid. The famous black scholes model for option pricing uses quantum physics to make it simpler, unlike when it uses Ito's calculus.
Another important use of physics in finance is attributed to Feynman, for the sum-over-paths integral method (electromagnetic particles).
Econophysics is a relatively new branch, which lists a whole bunch of other applications of mathematical physics to finance. http://www.derivativesstrategy.com/ has some nice comic strips on trades, hedge funds and other aspects of finance.

Physics

Physics is a beautiful subject. I was never an outstanding student, but I enjoyed every bit of what I learnt. Its amazing how it explains everything from the so big to the so small. Personally I feel that it forms a strong base for some of the engineering streams. Feynman Lectures on Physics is a treat to every student who likes physics or wants to know about physics. Sometimes, I feel too much of Mathematics just overshadows the physics behind. Nevertheless, from what I've observed, matrices and differential equations are a very integral part of physics.

Its good to be first...

Its amazing how two places geographically so close to each other can be so different in life style.I don't want to say much about NYC. It has all the frenzy, chaos, excitement, rush, activity and madness about it. Delaware, on the other hand is so laid back, like life on first gear. They are like day and night. Sometimes, I wonder why people who come from NYC don't carry a part of that fever to this place. Downtown Wilmington is slightly better, you can see (a few) people around. UD is a nice place, as all universities are. There's nothing else. Though there is some charm to the quietness, it gets unnerving at times. Its not amusing to stare into wilderness always. But I guess, I've learnt to appreciate each of these places because of the other. I think, I may miss Delaware when I move to NYC!

A new day...

Another day, Another sunrise
There is hope and fond memories
The road behind is long and winding
The one ahead is endless too
And so are the train of thoughts

There's lot happening out there
It all seeks you forever, the good
And the bad, as you stand unshielded
It feeds to the thoughts, which battles
with the endless boundaries

As morning gives way to dusk
While nature unfolds its wrath
There is the hurricane, there is famine
While man unfolds his intolerance
There is war, there are bombings

While he unfolds his indifference
There is poverty and illiteracy
while he forgets his boundaries
There is crime and lawlessness
And you wonder what more is in store

As I look right ahead in the dark
The road is still long and winding
But not as clear as I knew it to be
But there is no reason to lose heart
For tomorrow will be a better day
With a new way, New sunrise.

Idle Time

As much as we all long for free time, we are also scared of being idle. Time between jobs, time between finishing school and starting a job, time after retirement - all these situations make us atleast uncomfortable, if not terrified.

A recent short story that I read in The Hindu (India's leading national daily), Book review section, beautifully conveyed the message of confonting uncommitted time. Time Starer (as the author calls it) is a concept where you just absorb your surroundings and stare at time, and are not frightened.

At the end your soul will be cleansed and you will be ready to start on your next venture, job, whatever. It effectively says the time tested truth (but in an interesting way) - time is the best healer!!

Educational Institutions...

Educational Institutions have much more to offer than mere degrees. Agreed, the subject matter is learnt thoroughly. But the overall personality of the student changes. Its the perseverance, hardwork, ability to hang on there at tough times, time management, academic integrity, tolerance, respect for other fields and others' views - all this and much more which are inculcated into every student, making him/ her prepared for the world outside.

You see some of the most brilliant and finest minds around you, it keeps you on earth. You observe people so focussed, it keeps you on track. Its a world of opportunities - make the best use of it. My time at Cornell has been the most memorable and eventful. I am sad school is over so quick. I am proud to be a Cornellian!