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http://www.blogthings.com/quizzes.html

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What do IITians need?



If you have hazarded Gaadi, Bangla, Money or Maa ! No
you are wrong. To find this out, read on:

A couple of days ago five ex-IITians met at the new
coffee shop at IITD. Two of them were stars and other
three were laggards!

They talked about movies, life, last daaru party and
they also talked about Advanced Statistical Finance.
Out of the three laggards, two have taken a course on
Advanced Statistical Finance during their business
school days (henceforth referred to as bs-laggard1 and
bs-laggard2, the third one still hasn't had the
misfortune of attending a business school. And, only
one of the two stars knew about the subject. We call
this star as "Knowing Star" and other one as "Other
Star"

Scene: people are talking about good things in life

Other Star (he hasn't been to a business school): If I
want to value a financial instrument with given
dynamically changing probability distribution over a
long time horizon without using runge-kutte method or
newton raphson method and simplex simulation, is there
a way out?

3 Laggards: What what??

Knowing Star (he has had an advantage of attending a
business school): Boss, use Real Options.

Bs-laggard1: (trying to sound knowledgeable): The
parameters that go in real options are difficult to
estimate. Hence, probably it may be difficult to use

Bs-laggard2: (trying to sound philosophic): Such
techniques are important for academia and I have not
seen them being used in the industry

Knowing Star : Boss, Real Options are the most
beautiful financial invention! It is used in many
indutries extensively. Laggard3, you would know, it is
extensively used in the oil industry for valuation of
...
Laggard3: (Tries to look as if he is feigning
ignorance; actaully he is completely ignorant): I have
not delt with them.

Knowing Star (now the fun begins): bs-Laggard2, what
parameters are you talking about?

Bs-laggard1 (completely clueless): I mean, most
parameters, you know. Like parameter to measure
variation you know

Knowing Star gives a half an hour discourse on Real
Options - address only to Other Star, and ignores the
rest. "Other Star" appears to understand everything -
they talk about things like log normal distribution
and double differential equations etc. etc. The
laggards have exactly the same look on their faces as
they used to have during their MA 110 lectures!

Bs-laggard2: Actually, I flunked this course, and this
is the only course that I have flunked. It was in the
sixth sem, hence I did not bother to study.

Bs-laggard1: Actually, I also did not do well in this
course. I got 2.8 / 4 (he has inflated his score of 1,
investigation later revaled that he got 1.8 and 1.5
is passing cut-off !!)

Bs-laggard3: (he is about to join a business school) -
Good discussion, insightful. Now I have decided that I
want to pursue marketing and organization behaviour,
no Finance for me

Moral of the story: Whatever you do, wherever you go,
your CGPA follows!