The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It By: Scott Patterson
The Quants details the rise of Peter Muller (PDT), Ken Griffin (Citadel), Cliff Asness (AQR) and Boaz Weinstein (Deutsche Bank) in the world of high frequency trading. The book tells their stories in the context of the recent financial crisis. The book spends time speaking to the personalities of these money managers but also gets into how their investment philosophies have influenced the trading strategies of their respective firms. For those new to the ideas of quantitative trading and portfolio management this book will provide a good set of Wall Street lore type stories and some flavor for the concepts used by the firm.
A begginer will be able to understand this book but it's probably targeted at a reader with at least a moderate level of knowledge on the markets. Beginers will benefit from the compairisons made between trading strategies and poker strategies. Don't expect an implementable trading strategy, just some new ideas to kick around during a fun read.
A begginer will be able to understand this book but it's probably targeted at a reader with at least a moderate level of knowledge on the markets. Beginers will benefit from the compairisons made between trading strategies and poker strategies. Don't expect an implementable trading strategy, just some new ideas to kick around during a fun read.
Categories:
anecdotal,
Derivatives,
Equities,
Introduction,
Options,
quant