How I Became a Quant

How I Became a Quant Author Richard R. Lindsey
ISBN-10 1118044754
Year 2011-01-11
Pages 386
Language en
Publisher John Wiley & Sons
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Praise for How I Became a Quant "Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!" --Ira Kawaller, Kawaller & Co. and the Kawaller Fund "A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions." --David A. Krell, President and CEO, International Securities Exchange "How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis." --Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management "Quants"--those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements--are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk. How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.

How I Became a Quant

How I Became a Quant Author Richard R. Lindsey
ISBN-10 0470452579
Year 2009-08-03
Pages 404
Language en
Publisher Wiley
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Praise for How I Became a Quant "Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!" --Ira Kawaller, Kawaller & Co. and the Kawaller Fund "A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions." --David A. Krell, President and CEO, International Securities Exchange "How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis." --Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management "Quants"--those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements--are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk. How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.

How I Became a Quant

How I Became a Quant Author Barry Schachter
ISBN-10 047016980X
Year 2007-09-28
Pages 272
Language en
Publisher LibreDigital
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Firsthand accounts from the people who were swept into, and then helped fashion, today's ''quant-driven, '' dynamic world of finance. Quants are the backbone of today's investment industry. Their mathematical models are now the basis for most financial market innovations, such as exotic derivatives, structured investment products, quantitative trading strategies, and portfolio selection. Their spectacular successes and failures have become part of market folklore. But what they do, and how they do it, is often as opaque and hard to understand as the formulas they create. In How I Became a Quant.

My Life as a Quant

My Life as a Quant Author Emanuel Derman
ISBN-10 9781118428887
Year 2012-06-12
Pages 308
Language en
Publisher John Wiley & Sons
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In My Life as a Quant, Emanuel Derman relives his exciting journey as one of the first high-energy particle physicists to migrate to Wall Street. Page by page, Derman details his adventures in this field—analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. Throughout this tale, he also reflects on the appropriate way to apply the refined methods of physics to the hurly-burly world of markets.

The Quants

The Quants Author Scott Patterson
ISBN-10 9781446493090
Year 2012-05-31
Pages 352
Language en
Publisher Random House
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You're a genius. Nobody plays the financial markets better than you. What could possibly go wrong? Quants - quantitative analysts - were the maths masterminds let loose on Wall Street in the belief that their brilliant, impregnable computer programs would always beat the market. But as the catastrophic events of 2007 and 2008 showed, their seemingly failproof methods were little more than ticking timebombs. Inspired by the 'Godfather of Quants' - maths-professor-turned-gambler Ed Thorp, who began applying skills learned at the Vegas tables to the financial markets back in the 1950s - the quants achieved extraordinary success and massive wealth. This book charts their rise from obscurity to boom and then to bust, explaining why they were so confident - and how they got it so disastrously wrong.

The Complete Guide to Capital Markets for Quantitative Professionals

The Complete Guide to Capital Markets for Quantitative Professionals Author Alex Kuznetsov
ISBN-10 9780071709521
Year 2006-11-22
Pages 600
Language en
Publisher McGraw Hill Professional
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The Complete Guide to Capital Markets for Quantitative Professionals is a comprehensive resource for readers with a background in science and technology who want to transfer their skills to the financial industry. It is written in a clear, conversational style and requires no prior knowledge of either finance or financial analytics. The book begins by discussing the operation of the financial industry and the business models of different types of Wall Street firms, as well as the job roles those with technical backgrounds can fill in those firms. Then it describes the mechanics of how these firms make money trading the main financial markets (focusing on fixed income, but also covering equity, options and derivatives markets), and highlights the ways in which quantitative professionals can participate in this money-making process. The second half focuses on the main areas of Wall Street technology and explains how financial models and systems are created, implemented, and used in real life. This is one of the few books that offers a review of relevant literature and Internet resources.

The Mis Behaviour of Markets

The  Mis Behaviour of Markets Author Benoit B. Mandelbrot
ISBN-10 9781847651556
Year 2010-10-01
Pages 352
Language en
Publisher Profile Books
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This international bestseller, which foreshadowed a market crash, explains why it could happen again if we don't act now. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous - and beautiful. In his models, the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.

Pairs Trading

Pairs Trading Author Ganapathy Vidyamurthy
ISBN-10 111804570X
Year 2011-02-02
Pages 224
Language en
Publisher John Wiley & Sons
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The first in-depth analysis of pairs trading Pairs trading is a market-neutral strategy in its most simple form. The strategy involves being long (or bullish) one asset and short (or bearish) another. If properly performed, the investor will gain if the market rises or falls. Pairs Trading reveals the secrets of this rigorous quantitative analysis program to provide individuals and investment houses with the tools they need to successfully implement and profit from this proven trading methodology. Pairs Trading contains specific and tested formulas for identifying and investing in pairs, and answers important questions such as what ratio should be used to construct the pairs properly. Ganapathy Vidyamurthy (Stamford, CT) is currently a quantitative software analyst and developer at a major New York City hedge fund.

Flash Boys A Wall Street Revolt

Flash Boys  A Wall Street Revolt Author Michael Lewis
ISBN-10 9780393244663
Year 2014-03-31
Pages 274
Language en
Publisher W. W. Norton & Company
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Argues that post-crisis Wall Street continues to be controlled by large banks and explains how a small, diverse group of Wall Street men have banded together to reform the financial markets.

Trade Like a Hedge Fund

Trade Like a Hedge Fund Author James Altucher
ISBN-10 1118045785
Year 2011-01-13
Pages 240
Language en
Publisher John Wiley & Sons
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Learn the successful strategies behind hedge fund investing Hedge funds and hedge fund trading strategies have long been popular in the financial community because of their flexibility, aggressiveness, and creativity. Trade Like a Hedge Fund capitalizes on this phenomenon and builds on it by bringing fresh and practical ideas to the trading table. This book shares 20 uncorrelated trading strategies and techniques that will enable readers to trade and invest like never before. With detailed examples and up-to-the-minute trading advice, Trade Like a Hedge Fund is a unique book that will help readers increase the value of their portfolios, while decreasing risk. James Altucher (New York, NY) is a partner at Subway Capital, a hedge fund focused on special arbitrage situations, and short-term statistically based strategies. Previously, he was a partner with technology venture capital firm 212 Ventures and was CEO and founder of Vaultus, a wireless and software company.

F for Quantitative Finance

F  for Quantitative Finance Author Johan Astborg
ISBN-10 9781782164630
Year 2013-12-26
Pages 286
Language en
Publisher Packt Publishing Ltd
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To develop your confidence in F#, this tutorial will first introduce you to simpler tasks such as curve fitting. You will then advance to more complex tasks such as implementing algorithms for trading semi-automation in a practical scenario-based format. If you are a data analyst or a practitioner in quantitative finance, economics, or mathematics and wish to learn how to use F# as a functional programming language, this book is for you. You should have a basic conceptual understanding of financial concepts and models. Elementary knowledge of the .NET framework would also be helpful.

The Physics of Wall Street

The Physics of Wall Street Author James Owen Weatherall
ISBN-10 9780547618296
Year 2013-01-08
Pages 304
Language en
Publisher Houghton Mifflin Harcourt
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After the economic meltdown of 2008, Warren Buffett famously warned, “beware of geeks bearing formulas.” But as James Weatherall demonstrates, not all geeks are created equal. While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models—whether in science or finance—have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn’t understand their purpose, and didn’t care. It was a catastrophic misuse of science. The solution, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. We see a geophysicist use a model designed for earthquakes to predict a massive stock market crash. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future.

Models Behaving Badly

Models Behaving Badly Author Emanuel Derman
ISBN-10 9781439165010
Year 2011-10-25
Pages 240
Language en
Publisher Simon and Schuster
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Now in paperback, “a compelling, accessible, and provocative piece of work that forces us to question many of our assumptions” (Gillian Tett, author of Fool’s Gold). Quants, physicists working on Wall Street as quantitative analysts, have been widely blamed for triggering financial crises with their complex mathematical models. Their formulas were meant to allow Wall Street to prosper without risk. But in this penetrating insider’s look at the recent economic collapse, Emanuel Derman—former head quant at Goldman Sachs—explains the collision between mathematical modeling and economics and what makes financial models so dangerous. Though such models imitate the style of physics and employ the language of mathematics, theories in physics aim for a description of reality—but in finance, models can shoot only for a very limited approximation of reality. Derman uses his firsthand experience in financial theory and practice to explain the complicated tangles that have paralyzed the economy. Models.Behaving.Badly. exposes Wall Street’s love affair with models, and shows us why nobody will ever be able to write a model that can encapsulate human behavior.

Weapons of Math Destruction

Weapons of Math Destruction Author Cathy O'Neil
ISBN-10 9780553418828
Year 2016-09-06
Pages 272
Language en
Publisher Crown
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Longlisted for the National Book Award New York Times Bestseller A former Wall Street quant sounds an alarm on the mathematical models that pervade modern life — and threaten to rip apart our social fabric We live in the age of the algorithm. Increasingly, the decisions that affect our lives—where we go to school, whether we get a car loan, how much we pay for health insurance—are being made not by humans, but by mathematical models. In theory, this should lead to greater fairness: Everyone is judged according to the same rules, and bias is eliminated. But as Cathy O’Neil reveals in this urgent and necessary book, the opposite is true. The models being used today are opaque, unregulated, and uncontestable, even when they’re wrong. Most troubling, they reinforce discrimination: If a poor student can’t get a loan because a lending model deems him too risky (by virtue of his zip code), he’s then cut off from the kind of education that could pull him out of poverty, and a vicious spiral ensues. Models are propping up the lucky and punishing the downtrodden, creating a “toxic cocktail for democracy.” Welcome to the dark side of Big Data. Tracing the arc of a person’s life, O’Neil exposes the black box models that shape our future, both as individuals and as a society. These “weapons of math destruction” score teachers and students, sort résumés, grant (or deny) loans, evaluate workers, target voters, set parole, and monitor our health. O’Neil calls on modelers to take more responsibility for their algorithms and on policy makers to regulate their use. But in the end, it’s up to us to become more savvy about the models that govern our lives. This important book empowers us to ask the tough questions, uncover the truth, and demand change. — Longlist for National Book Award (Non-Fiction) — Goodreads, semi-finalist for the 2016 Goodreads Choice Awards (Science and Technology) — Kirkus, Best Books of 2016 — New York Times, 100 Notable Books of 2016 (Non-Fiction) — The Guardian, Best Books of 2016 — WBUR's "On Point," Best Books of 2016: Staff Picks — Boston Globe, Best Books of 2016, Non-Fiction

Mary Quant

Mary Quant Author Mary Quant
ISBN-10 0755360176
Year 2012
Pages 291
Language en
Publisher Headline Publishing Group
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Not many names epitomise an era, but Mary Quant is such a name. Her life, her ideas, her style touched (and still touch) everyone. Mary Quant is fashion. Most people connect Mary with one thing - the mini skirt - that ground-breaking design that is as potent now as it was when it first appeared in the early sixties. But her influence carried way beyond those early frenetic black-and-white years. Now, towards the close of what has been one of the most influential and visionary careers in fashion's history, Mary Quant has written a memoir in her own inimitable style - a witty, unique account of her whirlwind life. It is a story like no other. But then there is only one Mary Quant.