Average Reviews:
(More customer reviews)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
Click Here to see more reviews about: The Complete Guide to Capital Markets for Quantitative Professionals (McGraw-Hill Library of Investment and Finance)
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 thefinancial industry.
It is written in a clear, conversational style and requires no prior knowledge of either finance or financial analytics. The book beginsby discussing the operation of the financial industry and the business models of different types of Wall Street firms, as well as the jobroles those with technical backgrounds can fill in those firms. Then it describes the mechanics of how these firms make money trading themain financial markets (focusing on fixed income, but also covering equity, options and derivatives markets), and highlights the ways inwhich quantitative professionals can participate in this money-makingprocess. The second half focuses on the main areas of Wall Streettechnology 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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