Tag Archives: Bank of America

Bank of America cuts ties with 150 hedge funds not due to regulation but sub par performance

Bank of America cuts ties with 150 hedge funds not due to regulation but sub par performance

Too expensive for a measly 2% annual return on the hedge fund industry. Well done hedge funds well done.

http://www.charlotteobserver.com/2015/01/13/5444596/bank-of-america-cuts-ties-with.html#.VLV58XvAuGU

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Bank of America Said to Fire a Dozen Workers in Canada

Bank of America Said to Fire a Dozen Workers in Canada

 

bloomberg.comBank of America Corp. has fired almost a dozen workers at its Canadian capital markets business as part of a global staff reduction, a person familiar with the situation said.– To be expected, NO?

 

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Did you know that Wal-Mart, Walt Disney, General Electric, Nokia, and Bank of America are ALL using Hadoop?

Did you know that Wal-Mart, Walt Disney, General Electric, Nokia, and Bank of America are ALL using Hadoop?

BusinessWeek just published this article: Getting a Handle on Big Data with Hadoop: The flood of information from social media and elsewhere is propelling companies’ use of free and customizable software called Hadoop to manage it. Good info on how companies are leveraging Hadoop to turn Big Data challenges into big business opportunities. http://buswk.co/rk2nTh

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Sure, what’s else is new? 😉

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So what? They also use Windows and mainframes 🙂

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you also forgot about Linux (RedHat/Centos/etc) too. 🙂

I guess I should say that anyone who wants to see who is doing what just has to look at the members of Hadoop groups on LinkedIn or see who’s a member of the local Hadoop Usergroups. 😉

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question for you. I’ve heard that Hadoop is the new Linux. What are your thoughts on this?

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Not sure what you meant by your question. One’s an OS the other is a M/R Framework and associated tools.

If you meant to compare Linux and Hadoop in terms of being a disruptive tech, then yes. And its already proven to be true. Hadoop is definitely a disruptive tech.

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Hadoop was a disruptive tech years ago. Now, Hadoop is table stakes

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Hadoop these days is bread and butter for large data analytics. Its fashionable enough that those who don’t have large amounts of data still want to use it. In time to come you are likely to see a lot of disruptive tech evolving around distributed analytics, including real-time crunching, beyond M/R that Hadoop provides.

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Steaks? Toss in a Baked Potato and I’m in. 🙂

I would have to say that Hadoop is still disruptive because we’re hitting the main stream market. If you go back to Linux, you could have been an early adopter long before it hit mainstream shops and I think the same is true.

Looking at all of the discussion spam from the likes of Informatica, along with mainstream articles now mentioning Hadoop and some of the big name adopters like Nokia… I would say that we’re still in the early stages.

 

“Looking at all of the discussion spam from the likes of Informatica…” awesome. 🙂

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I’m sorry, I didn’t realize there was an issue. I’m simply sharing information about Big Data (Hadoop) and hoping to learn something in exchange about this hot topic. I thought that was the purpose of LinkedIn Groups. I didn’t mean to offend anyone.

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, you didn’t offend anyone. It’s just that for the most part, Hadoop is old news. And it doesn’t come close to low latency. The folks who gained competitive advantage years ago via Hadoop, or Map/Reduce, are certainly still using it but have also moved on to new solutions

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I believe that Hadoop, or Map/Reduce, will be disruptive but not for what you might think. It’s made the public start thinking in distributed terms, moving code to data, breaking problems down into smaller pieces, etc. It’s also re-introduced a focus on big data and the types of algorithms you need to deal with big data. The world is going real-time (I prefer event-driven) and Hadoop just isn’t going to cut it. The revolution is already over for Hadoop I’m afraid

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comparing Hadoop to Linux was done in terms of describing Hadoop as the new operating system for data. So in that regard, it’s a valid comparison even though they’re too very different technologies.

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the Civil Rights Act was signed in 1964 but the first black president assumed office only in 2009. There is still a lot of Hadoop and Hadoop powered disruption to come, I’m afraid. Of course there will be more in distributed computing, algorithms, event driven, and even the way we understand and analyze data.

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Shashank, and expectations for both were overblown and thus far, found lacking. Time will tell my friend but either way, discussions about Hadoop don’t belong in this forum because of the phrase “Low Latency

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This is a new topic area for me and I am genuinlely interested. In the majority of articles I’ve read Big Data and Hadoop are typically discussed together. Big data (large volumes and different types of data such as transaction data and interaction data) needing to be processed in Hadoop clusters. I’ve read about government agencies using low latency databases built on top of Hadoop for fuzzy matching finger prints for example. So yes, I’m curious why you don’t care about Hadoop.

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AS far as I am aware, Disney is only looking into using Hadoop 🙂 they same with other major studios. They are certainly no Google, that uses map/reduce to process data IN only, then involving more suitable tools in analysis of data, and no Amazon. Hadoop’s outmost useful feature is instant scalability and reliable availability of the data with multiple segmented replication on the almost OS level, this is the one to be fascinated with. Map reduce allows parallel processing of unstructured data into structured data and allows to store on disk. Then, there are better tools for processing structured data, to tell you the truth. All these “news” in architectures are old; however, hadoop allowed certain things that were not possible before…

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I think you’re missing out on the evolution of Hadoop. Yes, I agree that in general Hadoop doesn’t offer ‘low latency’. However, when you consider the types of problems the main stream community is trying to solve, Hadoop does fine.

But for specialized niche like low latency, you may want to contact Volkmar Uhlig of HStreaming. We just had a meeting where we had Ted Dunning from MapR and Volkmar from HStreaming present on their products. (I’ll try to have their presentations up on our meetup site this weekend.) HStreaming fits the niche of real time M/R on events.

The point is that, yes I agree with your points, however I think that Hadoop is evolving and taking some interesting twists w both MapR and HStreaming.

I’m familiar with both MapR and HStreaming and while they might have Hadoop friendly api’s, they’re not Hadoop. Quite frankly, they’re much more like CEP. Either way, the Hadoop you describe for the ‘main stream community’ isn’t low latency.

Low latency isn’t niche – when you consider that going below a 5 minute batch time on Hadoop presents diminishing returns, most people are interested in processing transactions in somewhat less time. But again, Hadoop isn’t for that (but this forum is).

In regards to missing out on the evolution of Hadoop, my team has been doing event-driven (streaming) map/reduce now *for a couple of years* on Wall St. So, as Yevgeniya points out above, this new Hadoop architecture is actually quite old. Wall St has been using grid for 20 years (scatter/gather, map/reduce, what ever you want to call it), so I’ve actually been right in the thick of it the whole time.

If you can post links to the presentations you mention, that would be great. But please do it in a separate thread.

 

 

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Trend continues, Bank of America closes partial quant prop trading desk. More to come?

Trend continues, Bank of America closes partial quant prop trading desk. More to come?

http://www.bloomberg.com/news/2010-09-29/bank-of-america-is-said-to-eliminate-more-than-20-proprietary-trading-jobs.html

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Are Bank of America and CitiBank moving global quant operations to Toronto?

Are Bank of America and CitiBank moving global quant operations to Toronto?
I have got recently a few blasts from local Toronto recruiters who are helping me identify a startling trend for any quant based person. As I am fairly new to the world of quant, it may benefit me as both large banks are moving their operations. As it has been explained to me, these local recruiters are being told that upper management at both Bank of America and Citi Bank are moving a large hub of their trading desks and quant roles to Toronto. It is cheaper for. The rates I have been told are fairly low as compared to London or New York City.
For instance, many ‘experienced’ quants are expected to settle at ninety dollars per hour which rounds out to $150,000. I am sure New York or London based quants could make double in their own home towns. For a light experiences guy like me, it seems I could get $110,000. Not bad but still about two thirds of what is being paid in both New York or London. It seems it would be cheaper. I am sure their rents are as well.
I have always known Citi to have a downtown Toronto office on Front St., but I have been told their Mississauga location on Matheson Blvd is too small. They are now looking for over 100 people on a new building on Hurontario. This to fill a few new groups that appears to make this location a major support hub for Citi`s global operations. This includes two platforms built in Java using WebLogic for their Prime and Municipal Bonds groups. These will be large groups which are being built from `scratch.` Citi will also pay premium for these roles as compared to cheap ass Canadian banks like Bank of Montreal or Scotia Bank. These are apparently the other second and third largest in Toronto region. For example, Canadian Toronto Dominion bank would $70k for a similar role. That is very low for a similar role in London. Most of Citi`s local Toronto positions are being fulfilled by local Canadian recruiters only. They are also only looking for Canadian who has working status as well. That is an extra bonus for people like me where the market is much tighter for Citi as the local based quants are hard to find.
As for Bank of America, they are setting up their local downtown Toronto location with a boatload of roles to. One other recruiter has confirmed for me that Bank of America`s Merrill Lynch division will use Toronto as a new hub for new future quant based projects. For what reason, it is cheaper.
So is Toronto becoming potentially a new global player in the world of quant?

So be on the look out for a extra tips on getting interviews for both Bank of America and Citi Bank. This includes Java roles and C++ quant based roles. Man, will this be interesting and time consuming. No different than the research for Bloomberg. Oh yeah, I better get back to this prepping for their online test today.

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Bank of America phone interview question topics on C++

Bank of America Interview Question for Financial Software Developers about C++
1) Type of stl containers
2) difference in composition, agregation,association.
3) Predicates
4) Deadlock and Starvation
5) Raised condition
6) Diff in Conversion ctr and explicit ctr
7) diff in has_map and map
8) explain hash_map and bucketing
9) virtaul inheritance, diamond problem
10) function adaptors
11) fucntors
12) function objects
13) in how many ways two classes A and B be related to each other.
14) diff between vector and dqueue
15) Repopulation of dqueue and its complexity.
16) types of iterators
17) how would you implement a map.
18) concept of immutability.
2

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C++ interview questions gleaned from Bloomberg, Bank of America, Goldman Sach, Microsoft

There are so many questions for interviews. These were gleaned from careercup.com There are over 300 pages in this document. Entire downloadable PDF at the bottom of this post. It contains well over 300 pages. Next up is compiling questions for Java for a job interview at Morgan Stanley in Montreal. I am prepping for Bloomberg C++ in NYC.

Bloomberg LP Interview Question for Software Engineer / Developers about C++
Keyur on April 25, 2010
what will be size of class and size of object of class.
class A{
int *p;
static int a; }
5
[Full Interview Report]

Tags: Bloomberg LP » C++ » Software Engineer / Developer
Question #1898670 (Report Dup) | Edit | History

Jay on April 27, 2010 http://www.careercup.com/editcomment?id=1940664 http://www.careercup.com/editcomment?id=1940664
4
Reply to Comment
abhimanipal on May 06, 2010 http://www.careercup.com/editcomment?id=2134661 http://www.careercup.com/editcomment?id=2134661
Is the size of the class and object always same ?Why is it so ?
If the class has static members, then these members are not stored in the object. Inspite of that will the class and object have the same size ?
Aditya on May 06, 2010 http://www.careercup.com/editcomment?id=2130663 http://www.careercup.com/editcomment?id=2130663
I would say that for the class, the size of the static is taken into consideration, where as for the object you do not because static does not instantiate an object. So, in this case: size of the class would be 8 bytes and size of the object will be 4 bytes
Reply to Comment
sandy on May 10, 2010 http://www.careercup.com/editcomment?id=2152667 http://www.careercup.com/editcomment?id=2152667
What do you mean y size of a class..? Unless and until you instantiate, the memory will not be allocated right? Just class does not make sense right? Please clarify.
Reply to Comment
Anonymous on May 10, 2010 http://www.careercup.com/editcomment?id=2160666 http://www.careercup.com/editcomment?id=2160666
Yes, you are right. But, assuming that the object has been instantiated, the size of the class will be 8 bytes ‘on paper’ and 4 bytes for the object

What is pure virtual function ?
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how is a system call executed.. when the API resides in the user space how are u still able to

whenever an API is called from User mode that would require a service from an underlying kernel module, the system traps to kernel mode to execute the requested service.
the system calls transfers the control from user program mode which is of low privilege to kernel mode ( high privilege )

you inadvertently overwrite some portion of memory that some pointer or a variable is
memory corruption, call stack corruption. In unix, scope is limited to these 2 inside a process. In RTOS, the corruption can span across multiple tasks/processes
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what does fork do, can the child process use the fd’s immediately
fork copies the snapshot of the process. The special case of fd’s, kernel makes sure these are properly duplicated and available for child process immediately
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what is new in C++, and operator, function, functor
operator
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how will you write constructor such that if will deallocates memory when there is exception.
duplicate Q. Ans: By using function try-blocks. The key word here is ‘function’
They have explained why do you need function try blocks for constructors. Somewhere in that article.. it says if exception occurs in function try block then whatever objects that were successfully created will be destructed by calling their destructors.

// Example 1(a): Constructor function-try-block
//
C::C()
try
: A ( /*…*/ ) // optional initialization list
, b_( /*…*/ )
{
}
catch( … )
{
// We get here if either A::A() or B::B() throws.

// If A::A() succeeds and then B::B() throws, the
// language guarantees that A::~A() will be called
// to destroy the already-created A base subobject
// before control reaches this catch block.
}

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what will be size of class and size of object of class.
class A{
int *p;
static int a; }
5

Is the size of the class and object always same ?Why is it so ?
If the class has static members, then these members are not stored in the object. Inspite of that will the class and object have the same size ?
I would say that for the class, the size of the static is taken into consideration, where as for the object you do not because static does not instantiate an object. So, in this case: size of the class would be 8 bytes and size of the object will be 4 bytes
What do you mean y size of a class..? Unless and until you instantiate, the memory will not be allocated right? Just class does not make sense right? Please clarify.
Yes, you are right. But, assuming that the object has been instantiated, the size of the class will be 8 bytes ‘on paper’ and 4 bytes for the object
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catch (…) //default type

Reply to Comment
Add a Co
Complete PDF can be downloaded here.

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