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Hedge funds and hiring engineers

 
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PostPosted: Fri Jul 27, 2007 2:39 pm GMT    Post subject: Hedge funds and hiring engineers Reply with quote

http://www.financetech.com/story/story/GLOBAL/btg/shared/financetech/v2_ftn/null/showArticle.jhtml?articleID=184417510&pgno=1

Hi all, the article above indicates where the tech laden jobs are going in the present to intermediate near future.

So here's my question as a concerned citizen... are having the best paid jobs in the so-called tech arena being hedge fund trading platforms' back office numerical stuntmen the best way to utilize a nation's generation of scientists and engineers?

I understand the principle of the free market of going "where the money is" but at the same time, I can't help but feel that this type of thinking, esp for the techies, is really short term and in the long run, a HF (and its trading systems) can be anywhere in the world along with all the currently outsourced jobs in research and development. At the same time, I anticipate that there'll be a lot of consolidation in the HF world as the alpha goes down and then we'll have another telcom bust but this time, with no subsequent industry (since they're all in east Asia) to pick up the remaining scientists.
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PostPosted: Fri Jul 27, 2007 3:28 pm GMT    Post subject: Reply with quote

Quote:
the best paid jobs in the so-called tech arena being hedge fund trading platforms' back office numerical stuntmen the best way to utilize a nation's generation of scientists and engineers?


Think internet/telcom bubble of '97-'99. Was it the best for all of the nation's engineers to become computer programmers instead of designing machines, physical plants, advanced materials, oil refineries, space ships, etc?

Now, where's the state of our in-house manufacturing? Likewise, when the hedge fund to private equity bubble works itself out, they'll be a hell of a lot of smart people applying for govt work with little left in the private sector outside of health care and insurance scams.
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PostPosted: Fri Jul 27, 2007 8:54 pm GMT    Post subject: Reply with quote

Basically, it's the flaw of having easy credit, consecutive asset bubbles determine where the technology talent flows from one generation to the next.
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PostPosted: Sun Jul 29, 2007 7:12 pm GMT    Post subject: Reply with quote

The end result of this is highly predictable, once a cluster of the nation's top science and engineering talent become financial analysts/quants, much of the normal tech R&D, outside of defense, will go abroad in search of greater and cheaper labor supplies since it's hard to compete against high incomes in trading firms in the US.

Then, as the liquidity in the western centric financial markets (see Chicago, NYC, London) starts to dry up and shifts to the Hong Kong-Beijing-Moscow centers of big money, these quants will be competing for fewer and fewer positions locally and at that point in time, much of the work stateside will be in nontradable services while real R&D and other business activites go on worldwide. I think this is something that could happen as early as five or so years from now.
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