I change my thesis topic again. Why?
At the first beginning, I was working on M&A. However, I can not find out a good point to dig in after a long time reading papers. At the same time, I am not sure whether I can find a supervisor working on this topic. And on one empirical finance class, Prof. Wu point out that the methodology used in the paper I presented can be used in the bond market, which can be written as a thesis. Then, I decided to work on it. I came out a research proposal after about two weeks, since the deadline was coming.
Following the winter holiday. I planed to work out the computer program and get the key results. But, but, I waste a lot of time and did not work on my thesis. Time flies, especially when you are enjoying your life. The new semester begin. I have to get down to study. The first result I got is bad, in fact, it opposite to what I expected. Hence, I check the data. Yes. I used the wrong variable. This time I can not get the data I need. What can I do. I resorted to my supervisor, Prof. Wu.
About ten days ago, Prof. Wu came to my place in the workstation asked to go to his office. He recommended me to change my topic since the time is limited. The risk is very high if I kept on the old topic. He is right. I am not sure whether I can handle the program. Using Bayesian approach to estimate a state space model and do the simulation. What's worse, the variance-covariance matrix is asymmetric. He offered me a new topic, CDS. What I know about CDS at that time is that it represents Credit Default Swaps. A totally new topic to me. Anyway, it is an emerging area and is new to most of us. He asked not to work on the sophisticated model, it'll relative easy.
These few days, I read the papers Prof. Wu had sent to me. I learnt something new and asked some foolish questions. Now it is much better.
I hope I can become an expert on CDS some time later. Haha~~
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