The amalgamation of quants and finance has opened a new avenue for those good with numbers and strategy, called quantitative finance. Though still in its nascent stage, quantitative finance has attracted many people due to the lucrative packages as well as a great potential to grow.
However, getting a job in the field is not as easy as it sounds and starting as a quantitative finance analyst you ought to be able to predict patterns and thus reduce risks while
1. Basics of Quantitative Finance – Stephen Blyth
If you have been out of touch with quants and finance for a while, then ‘Basics of Quantitative Finance’ is a book you should buy. Written by the managing director of Harvard University, Stephen Blyth, the book introduces you to powerful theoretical concepts of finance while at the same time helping you solve substantial problems. This quant book contains detailed yet to the point explanation of various mathematical problems and issues which the author himself faced, trading derivatives on Wall Street.
2. Inside the Black Box: The Simple Truth About Quantitative Trading – Rishi Narang
Rishi Narang, a trade analyst and fund manager, through this book, highlights essential things to see when investing in a quantitative fund. The book further will help you understand various risk evaluation and management models along with giving you a deeper insight into the importance of data management for risk evaluation. The book though covers this topic in a non-technical way, however, can be utilised by the seasoned traders to brush up their skills and learn about other techniques of evaluating and investing in funds.
3. Quantitative Methods for Business —by— David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Written by the industry veterans who have been managing as well as advising Wall Street companies, the book is a one-stop guide for anyone to understand and know the latest market trends. Using great real-life demonstrations the authors have tried explaining various challenges a trader or analyst faces, along with the solutions to overcome these. However, you will understand most concepts mentioned here if you are relatively good with mathematics, as well as, are proficient with excel as well.
4. Mathematics for Finance: An Introduction to Financial Engineering (Springer Undergraduate Mathematics Series)
A rigorous guide to mathematical finance, the book is focussed towards second or third-year mathematics undergrads. The book doesn’t dwell into the basics instead applies the core values of mathematics to solve complex problems. This book is of great help to those who are familiar with the advanced concepts of mathematics however wish to enter the world of financial modelling, risk management, derivative trading etc.
5. Quantitative Finance for Dummies – Steve Bell DPhil
If you are entirely new to the finance domain however are relatively good with mathematics, then this book by Steve Bell DPhil is your best guide. Everything starting from the basic formulas to advance concepts and tricks have been neatly summarised by the author in simple plain English for readers to understand. There are some basic exercises after each topic description followed by advanced questions on the topic which gradually helps you learn without putting too much pressure on your brain.
So, these were the list of top 5 quant books you can read and go through before you go for your quantitative financial analyst interview. Also, all of these quant books are available on Amazon for you to order and learn from the comfort of your home.
