by Alex Kuznetsov
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Product Description
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. .
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Average Customer Review:
0 of 0 people found the following review helpful:
 Great overview for the Financal software developer, 2008-09-20
I feel this book does a great job of giving of an overview of the financial markets from a technology stand point. His use of market terminology is also helpful because you often do not see this in other finance books. It is best to read this book straight through and then use the recommended reading section to learn more about the particular area of interest. I work for a financial software company and I will recommend this book to all the new hires who do not have industry experience.
2 of 2 people found the following review helpful:
A MUST Read for technology, 2008-05-15
It is crucial to the success of a technologist on Wall Street to have a fluent understanding of the traders they support: More focused feature sets are developed, faster communication with traders (they have about a 2-second attention span) and correct assumptions are made.
Unfortunately, working in technology tends to isolate oneself from the trading floor. This is not necessary. Although, there are plenty of classics out there (read Fabozzi), they don't target the technologist who hasn't grown up on the trading floor. They still don't answer the questions, "Why would you do that", "What's the purpose", "What's driving everything"
This book turns the whole model upside down. The author goes into a very detailed and interesting history of the markets first. Then goes into the main areas any financial group handles: Treasuries, Futures, Interest Rate, Agencies, Options, Corporates (We won't mention mortgage).
After reading just the Treasuries and Futures section, I IMMEDIATELY saw a difference in my ability to communicate with the desk. I was able to suggest alternative approaches concerning enhancements and features, understand when problems arose, plus I actually understood EVERYTHING the trader said.
If you work in technology, be it QA, Software Development or even technology management, this is a must read.
Best of all, it's a great read. I found myself looking forward to reading the book every single day.
Enjoy
1 of 1 people found the following review helpful:
Absolutely the best book for a math PHD who has become a quant, 2008-04-18
I got a job as quantitative risk analyst in a hedge fund 6 month ago. what has frustrated me is that I don't know how the market works. I have both John Hull and Paul Wilmot's books. They are good books but don't show you how to savvy the market. I bought this book 2 weeks ago and is half way from the end. I have to say, I wish I had read this book before I started this job. Evennow, it's not late. It helps so much that I have convinced my boss that I can read it over the work time so my productivity will be greatly improved. I absolutely love reading it.
2 of 6 people found the following review helpful:
 Bad introductory book, 2008-03-29
This book claims to be an introductory book and does not require readers to have previous financial experiences. Just coming from computer background and got a tech position on Wall Street, I thought the book would be an excellent fit for me. Unfortunately, this book does not explain the basics well, and lack of detailed examples for key concepts. I constantly encounter difficulties when reading the book especially some of the diagrams and mathematic formula that author throw in with no explanations. The book covers many areas, and none of them are described in a crystal clear way. Instead, the book seems to be a summary of Author's own experiences here and there on the Wall Street.
The book explains some trivial information well such as why the interests of the bond is called coupon, and even with photos. But for the vital details, the author always skips with just a few sentences and assumes that the reader has the same experience as the Author. I don't know why other readers gave this book 5 stars, I would guess they probably have worked on Wall Street for a few years with at least basic knowledge in finance. But for me, this book definitely does not serve the purpose.
Although the overall arrangement of the book seems to be logic, the content details are always jumping around. Mentioning about structure product in the first chapter, but no solid explanation almost to the end of the book.
If reading a book is to communicate with the Author, I would say the Author does not think in a very logic and clear way. In many cases, the Author likes to show off and stresses more on trivial details that he is proud of, and distracts readers from important fundamentals. If I had a second chance, I would have left this book in the bookstore.
0 of 0 people found the following review helpful:
 Good, but not the best, 2008-01-12
Good book on capital markets if you are a newer in the field. It explains pretty well the business of bonds, markets, stocks, etc in an easy way, with few mathematical formulation. He also talks about the people in the industry, and how they interact.
A pair of chapters seemed to me a bit poor, but it's globally a good book to understand how the whole capital markets works.
Not good for incumbents in the field.
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