Using a simple model for how trading moves prices, and using a simple utility function formulation for balancing risk against known costs, we apply the calculus of variations to determine an optimal trading strategy in terms of a few market parameters. We argue that these solutions are a realistic mathematical formulation of traders' intuition about optimal trading. We examine actual US stock market data to estimate the parameters in our model, and show that the time scales characterizing optimal liquidation strategies vary by several orders of magnitude across the market. Scott Mixon , Warburg Dillon Read Quantitative Jobs in Finance Advice to job searchers from a relatively recent job searcher. The discussion covers the various types of jobs available and strategies for learning about job opportunities in the private sector.
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Insurance A discussion of professional standards and ethics.