MIA

Apologies, it's been a while. So you may have noticed that there have been a distinct lack of blog posts recently... For that I am truly sorry as I had promised family and friends that I would keep them updated on my adventures in Chicago by writing about them here. Oops. In my defence, I was having too much fun to blog. The work at Fermilab ended up being fairly straightforward (potentially more on that another time...), which effectively meant that I treated the entire experience like an extended holiday in America. Thanks US Department of Energy for funding my ten-week vacation in the States! I'll eventually get around to explaining some of my work on here, seeing as that is kind of the point of this blog, don't worry.

So, "what next?", I hear you cry. Straight after returning to Blighty (and I mean straight after - I only spent 21 hours at home) I moved down to London, where I'm now undertaking a six-week internship with Promontory Finance in their London office. I'm one and a half weeks into that now and am doing an amalgamation of various compliance and regulatory-related odd-jobs for my bosses. It's really just your stereotypical internship in the City.

Whilst here, I've also been interviewed (officially, not just over the phone from my apartment in Chicago (just realised I'll have to explain that later too...)) for a graduate position in structuring with RBS Japan in Tokyo.

More on everything at a later date. I promise. Well, I promise-with-my-fingers-crossed-behind-my-back...

It's matsuri time!

I spent Thursday and Frday with the structures desk again, this time looking at the products in more detail. I spent a lot of time working out how to make different pay-out structures using combinations of simple put and call options and then establishing the range of delta and gamma for different moves in the spot price. This was really interesting or me to practice doing and it made it a lot easier to understand the whole process of hedging individual trades by analysing these so-called 'Greeks'.

Unfortunately, I found out on Friday morning that I failed my JSDA exam. I felt pretty crap about this for a while (I've got over it now) as I had worked quite hard for it, was doing well in the past papers and thought that I'd answered enough correctly on the day to pass it. Oh well... It's all still good experience and will be making an appearance on my CV.

After work on Friday, me and the guys on the structures desk headed over to Azubu Juban to check out the 10-bang matsuri (no idea why it's called that, but 'ju' is 10 in Japanese, so it sounds kind of like Juban, and matsuri is just a word for a festival). It was really cool - loads of stalls selling different food and drink and also a few with the usual funfair games. The food was great, especially the stuff on sticks:



In the main sqaure, there was a stage set up with a samba band and lots of dancers from the local samba school. The music was good and the costumes were brilliant:


All in all, I thouroughly enjoyed my first matsuri. I only wish that I lived in Tokyo so I could go to more - each district throws its own every summer.

EARTHQUAKE!

I was woken up at 5:07am today as my room was being shaken about by a magnitude 4.3 earthquake (it was 6.6 nearer the source). It took me a few seconds to work out what on earth was happening, why my bed was shaking, and why everything that I could see through my window was moving and then I pretty much sat bolt upright and thought, "what do I do now?!" Thankfully the tremors only lasted a couple of minutes, but that was long enough for me to transition from being fast asleep to being more than wide awake and very alarmed! The weirdest bit was that even when the ground had stopped shaking, my building was still swaying from side to side. My apartment is on the 8th floor... :S

I now know to be extremely careful what I wish for!

I remembered to take my coat to work today as the weather reports were saying that typhoon Etau was going to hit Tokyo today (apparently the heavy rain yesterday was just a normal tropical storm...). It rained a little for about an hour in the morning and then was sunny all afternoon. I'm pretty sure the typhoon missed Japan and headed straight to the Pacific Ocean instead. Quite glad really, I think having and earthquake AND a typhoon on the same day would be a bit much really.

Work today was good - one of the guys spent an hour explaining how they use combinations of options and interest rate swaps to make more complicated structures. It doesn't sound it, but it is actually really interesting. Hopefully I'll get to come back to this desk for a few more days to learn some more. At the end of the day I got the 'exercise book' for my course, which starts tomorrow. It basically looks like I'm going to be studying for an exam on Japanese financial law. This sales rep 2 malarky could be a lot harder than I thought it was going to be.

Mother Nature

Everybody at work todat was talking about yesterday's earthquake; I felt really left out... On one hand, I'm absolutely gutted to have missed it as there probably won't be another earthquake while I'm living here. On the other hand, I think I would have crapped myself had I been on my own when it happened - it made buildings shake and people's stuff moved around. A lot of the objects in my room were not where I left them - my fax machine was hanging off the edge of the desk. Apparently it's usually quite difficult to stay standing up in a magnitude 4.0 earthquake, which is what it was. Scary stuff!

When I got up this morning, it was raining so heavily that it was almost still dark. Thankfully, the rain had eased off a bit by the time I needed to leave for work, so I assumed that the rain was about to finish for the day and left with no jacket or coat and only a wee umbrella. This turned out to be a massive error on my part - Tokyo was hit by typhoon Etau today. Oops. I have never seen such heavy rain before!

My schedule for this week is a bit messed up because on Wednesday, Thursday and Friday, I'm going to a different office for my JSDA Sales Rep exam course. I was meant to be spending the whole week with the structures desk (FX and interest rate structures for Japanese clients) but will only get two days with them this week and maybe a couple somewhere else. This is a bit of a shame as they are all really nice guys and the structures they design and price are actually pretty interesting.