Tag: lala

How do i describe my job?

One of the “problems” with my job, if I can describe this as one, is that it’s tough to explain my job to a layman. There are multiple levels of disconnects here, and multiple “pitfalls”, if I can call them that. So when someone asks me about my work, it gets tough indeed to describe to any degree of accuracy while at the same time being concise, and at the same time talking in Kannada.

I am a quant at a hedge fund.

My work involves coming up with trading strategies, and then developing them to a level where I can have the ultimate fighter – a computer – to trade using these strategies. Then, I will need to figure out how the computer is going to implement these strategies and this part involves some heavy engineering work. And finally I code. Ok now I haven’t been accurately able to describe in one paragraph, writing in English, about my job. How do you expect me to describe it to the layman speaking in Kannada?

Coding is a part of my job, but I’m not a coder.

I deal with financial products – equities and equity derivatives. But I’m strictly not a finance guy – as far as I’m concerned, each security is just a time series. A time series on which I can trade and make money. In fact, apart from my short stint selling interest rates swaps in London, I haven’t really done any finance. My entire view of the markets is based on my idea that a security is just a tradeable time series. I think I should do a separate post on that. Anyways, I’m not strictly a finance guy also.

One of my degrees is an MBA. A PGDM to be precise, from IIMB. But I’m not a manager also. I don’t manage people apart from myself.  I’m not sure I’ll find that interesting either – I sometimes think managing is too fighter a job for me.

And so on.

And then, I work for a hedge fund. Most people don’e have a clue what a hedge fund is. I sometimes make an approximation and tell them I work for a mutual fund. And immediately I get bombarded with questions like my opinion on whether the markets will go up or down, and about how long the recession is going to last. And then there are those who start telling their sob stories about their investments in the markets when the Sensex was at 20,000 and about how markets can’t be trusted any more.

Another level of contradiction is that I’m based in Gurgaon. All finance companies are supposed to be in Bombay, right? Surely, given that I’m in Gurgaon, I must be doing some back office kind of work?

Last night my uncle was filling up some arranged marriage exchange registration form for me. And he asked me to describe my job in a short phrase. I immediately came up with “trader” and that got quickly shot down since that would give the image of a lala sitting behind huge weighing scales. Next I tried “financial trader” and “quantitative trader”. No go.

Then I wanted the simple “quant”. My highly stud uncle himself had trouble exactly figuring that out, so fat chance anyone would appreciate that. So out again. I relaxed constraints a bit and said “hedge fund professional”. But most people wouldn’t understand “hedge fund”. “mutual fund” was no go for a written form. “quantitative analyst” was considered too country by my uncle. He then asked me my designation. “Associate” doesn’t mean anything, he said and shot that down too.

Sometimes I wonder if I’ve unnecessarily complicated life for myself by choosing the path that I’ve chosen. If I were working for some software company I could’ve just written “software” over there and all would’ve been fine. The whole world would’ve understood, or at least claimed to have understood. Or even better, if I were living abroad, I wouldn’t have even been required to say that much. I’d’ve been just qualified as a “foreign huduga”, with most people not even caring for which city I was in.

For the record, my listing application records my profession as “financial services professional”, as country as it sounds. This was the only middle ground where my uncle and I didn’t disagree. And in it went. It increasingly looks like I’ll have to put fundaes to Cesares about why the stock markets have gone down in the last one year in order for them to allow their daughters to marry me. I have half a mind to start describing Ito’s lemma the next time someone asks me where the markets are headed. I’ll probably start off describing to them a random walk. And say that it’s a drunkard’s walk. And perhaps use that to change the topic. I think I might need to start practicing this. In Kannada.

I’m a quant at a hedge fund.

Community and age of marriage

I’ll be 26 within two weeks time. In fact, if you go by the Hindu calendar (which sacrifices short-term accuracy for long-term precision) I’m already 26. One question people constantly ask me when I bump into them is about when I plan to get married. Most of my friends also belong to the same approximate age group. When we meet up, discussion frequently veers towards “market entry”. About the arranged marriage market.

One common thread of discussion is “you belong to XXX community. you should’ve already fathered two kids by this age” or “you belong to YYY community. it’s ok even if you don’t get married for another six years”. Which makes me wonder why people from different castes and communities get married at different ages.

The Hindu scriptures divide a man’s life into four stages. At the end of the first quarter, which is brahmacharya, the boy is supposed to get married, and become a gRhasta. This division of life into four quarters in the Hindu scriptures is a clear indication that our ancestors knew about the Quarter Life Crisis so long ago. And they has prescribed a simple antidote to it – marriage. Yes, I admit that different people would feel the QLC at slightly different ages, leading to a small variation in marriage age. However, there seems to be no reason as to why this should depend upon one’s caste.

For one to get married, one needs to earn enough in order to support a partner and still lead a fairly comfortable life. Typically, you won’t want a quality of life that is much inferior to what you were leading at your parents’ place, before you moved out. When you are still a bachelor, you might be willing to accept a lower quality of life in order to maybe further your career. However, by the time you get married, you want to be closer to the quality you were used to in childhood.

We need to remember that the caste system was initially intended to divide people based on their occupation. Thus, it is fair to assume that even fifty to seventy years back, when most people more or less “lived within their caste”, people from similar castes were likely to take up similar kind of careers. Some would choose to join the family business, others would go out to set up their own business, a few others would join the government, and some others would join the army, and so on.

You need to notice that each kind of occupation promises its own kind of cash flows, and so in each of these types of professions, you take a varying amount of time in order to reach the standard of living of your parents.

If you observe, in most parts of India, the people who get married the youngest are typically people who belong to Lala communities. Once you choose to become a Lala, you forego an income, and live on pocket money. And it’s your family which decides how much pocket money you get, and typically your father and uncles and so on won’t want you to live an inferior life to theirs. And so your standard of living is always equal to that of your parents’. And you get married quickly.

Then you have people who work for a salary. If you look back, back in the 50’s and 60’s, the only employer (there wasn’t much of a choice in this) was the government. And irrespective of what degrees you had, or what colleges you went to, you were subject to a pay scale based on number of years in the job. And your salary would typically start off obscenely low. And it would take ages for you to reach the standard of living of your parents.

So that explains it. I know I haven’t taken any data points in between, but I suppose it shouldn’t be too tough. Lalas always live at the same standard as their families, and are thus eligible to marry the earliest. People working for salaries had no choice. They had to wait till the sarkar paid them enough to reach the same standard of living as their parents. And they married really late.

It is all because of Nehruvian socialism, I tell you. In case India was more capitalist back then, more people would’ve gotten rich enough to marry sooner. And this caste-based distinction in age of marriage wouldn’t have existed.

So the next time someone brings up some caste or community related stuff when encouraging or discouraging you to get married, tell them that it is all Nehru’s fault. Talk to them about our great scriptures, and their recognition of the Quarter Life Crisis. Argue from the point of view of your own QLC so as to conveniently hasten or postpone marriage. I’m sure that the scriptures, properly invoked, won’t fail you.