Delaware Investments Holds Housing Mortgages

[powayseller]

What do you mean?

[tickets]

POwayseller just read the title higher in this thread
and consider the effect of the word “of” with just a slight shift in spelling

[VCJIM]

Made me laugh out loud.

[Daniel]

Tickets,

Speaking of jacks of all trades, I have a quick off-topic question: assuming that you are located in San Diego, I would like to ask if you know local financial companies that are looking for quants.

I’m a scientist (statistics, computer modeling, math), but I have to admit that I enjoy financial models much more than molecular ones. I find myself opening books on financial calculus and derivatives way more often than I should. I also moonlight as a portfolio manager for my extended family.

I have scientist friends who went to the “dark side”, but they are all either on Wall Street or at hedge funds in Connecticut. I know nobody in the business around here, and I can’t move out of SD for family reasons.

I’m not really looking to switch careers right now, but I would like to start gathering contacts in case I decide to make a move in the future. Let me know if you can recommend any good places.

Thanks,
Daniel

PS: if any true scientist happens to read this, I must say that I truly apologize for my errant ways.

[MaxedOutMama]

Recent REIT reports seem to be indicating a continued appetite for the first tranche, but increasing problems unloading the scratch and dents, refurbishes, etc.

I would say that the loss of marginal profitability is going to hit some of these companies hard over the next year. It’s the mezzanine holdings that investors are becoming leary of. Having to hold more is cutting into profitability already for some companies.

Another factor is concentrations. You have to write enough of these in enough areas to get good risk evening, or you have to mix and match. A lot of companies seem to be looking to unload nonprime business lines.

[tickets]

Daniel,

Can’t help you on San Diego contacts. Don’t have any. But I can make a few suggestions. Not a lot of hedge fund activity there, but a lot of mortgage activity, with Ameriquest in Orange County being the biggest name that comes to mind. It might be worth your while to read up on some mortgage modeling (Fabozzi, articles in the Journal of Real Estate Finance and Economics, etc.) and try to offer your skills there. Another thought is that UC San Diego, Irvine, UCLA and USC all have first rate finance and or real estate departments, and almost every prof. has a consulting firm on the side. Look them up via their websites and google and see who you can approach. Or tack up ads on departmental bulletin boards “knowledge of Ito calculus, heat diffusion equations, Weiner processes. Looking for freelance work on finance or risk management applications.” Another place to look for ideas is the Risk Management Assocation. There are two breeds of quants. One builds hedge fund type models, and the other does risk management. The first pays better, but is harder to break into, and very little of that business is in San Diego. Employment in risk management is easier to come by and more diffuse geographically, but uses the same skills. And it would get your foot in the door.

[Daniel]

Tickets,

Thanks. Your insights are much appreciated. I do indeed know of a couple of local places that do mortgage modeling, but I’m thinking that this may not be the best of times to jump into that particular field.

Anyways, I’ll follow up on some of your leads and suggestions.
Thanks again,
Daniel

[Author]

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