Friday, May 21, 2021

Career Update etc.

About a month ago I posted about my career decision-making. So, because I ummed and ahhed, the incoming director found someone else for the leadership position for a year with a view to me doing it after that. On the other hand, she was happy for me to get a teaching reduction when I am in that leadership position.

I talked with HR and my immediate department head about long service leave. He was happy for me to get a reduction in teaching next year but not the course I wanted to drop. Instead, he suggested I drop both courses that are supposed to run in the first half of the year and do another course instead in the second half of the year. This is somewhat appealing as after a few year I get bored of teaching a course even though preparing a new course is a lot of work. So, then I would have a year out of teaching, then teach the new course, and then take on the leadership position while still teaching this course. 

That takes us to the end of 2024 when I will be 60 years old. So, my thinking is to then drop to a 50% position rather than retire outright and teach one course a year. 

On another front, a former student who I am collaborating with on research and maybe on another fintech business venture (at the moment I am on the informal "advisory board") is interested in trying to implement automatic systematic trading with my methods. He already has 2-3 other collaborators on the other (research intensive) business development. These guys are pretty expert in Python etc while I am relatively expert in markets. But he wants me to pay for their time up front for development. So, I really need to make sure I have something profitable before paying for this. So, I am going to do more extensive backtesting of my soybeans model, which is the easier one to backtest using my existing software. Most of the work is in compiling futures data together into a continuous series. I will go back at least to the Great Recession and maybe further. Currently I've tested about 6 years. If that works out (I am skeptical actually) they would then do more testing of other markets once we are trading the first market.

My thinking is to pay for development by being issued shares in return for cash in their (to be founded) company. After that when trading is up and running there would be profit sharing with the management company of which I would also be then a shareholder. One of the team is an accountant who would set all this up. They already have an IP agreement in place.

This actually all seems pretty crazy to me but you won't succeed if you don't try.

1 comment:

Anonymous said...

The decision is a smart one because as stated in the article you won’t succeed unless you try and calculated risk taking is an ability which can reap rewards in the long run. All the best!