View Single Post
  #39  
Old November 13th 07, 02:01 PM posted to misc.kids
Beliavsky
external usenet poster
 
Posts: 453
Default IQ and what it means in adulthood

On Nov 13, 7:57 am, enigma wrote:

heh. i have an IQ of 137. i'm a farmer.
i dated a guy at MIT who was pretty close to my IQ. he had a
dual major in math & philosophy. my dad asked him at dinner
once what he planned to do with that dual major. BFs reply was
a thoughtful "Well, there's really only two things i *could*
do with a dual in math & philosophy. I can either teach, or
become a farmer..."


Today there are more options. Many math majors from MIT have the
aptitudes to make a lot of money on Wall Street as quants or (even
better) traders. I got a PhD in physics and took the former route.
Math skills are more valued on Wall Street than they were say 30 years
ago.
Some mathematicians have done very well managing money themselves, for
example James Simons:

http://www.forbes.com/lists/2006/10/5GZ7.html
Age: 68
Fortune: self made
Source: Hedge funds
Net Worth: 2.6
Country Of Citizenship: United States
Residence: East Setauket, New York, United States, North America
Industry: Investments
Marital Status: married, 3 children
Massachusetts Institute of Technology, Bachelor of Arts / Science
University of California Berkeley, Doctorate
Degree from MIT; taught at Harvard. Worked as code breaker for
Department of Defense during Vietnam. Founded Renaissance Technologies
hedge fund firm 1982. Flagship Medallion fund averaging 34% annual
returns since 1988. Most expensive fees in the business: 44% of
profits, 5% of assets. Hires Ph.D.s instead of M.B.A.s; employees use
computer modeling to find market inefficiencies. Launching fund for
institutional investors that could handle $100 billion. Chairs Math
for America; group donated $25 million last year to train 180 New York
City math teachers.

Consulting companies are also looking for generally smart people.

A significant fraction of people from elite universities that I know
of are teaching at test preparation companies such as Kaplan. I think
such companies require high test scores from applicants.