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- 1/26/21
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- 13
Lot of people here like me are aiming the impossible. They lurk around sometime and then give up on the dream of becoming a financial engineer. I am talking about Non quants trying to become a financial engineer without having taken a single course of Multivariate calculus and Probability in their undergraduate program. Most of you want to skim the mathematics to only essential topics. Engineering students here will tell you to take courses in linear algebra, multivariate calculus and probability. And i always found it strange that no one could suggest books in which these topics could be learn from Finance perspective. I mean there is already enough maths in Finance so why do we need to learn maths separately? This is not a disrespect towards science/maths major but just a viewpoint.
I don't know if i will ever be a financial engineer but i am curious(I am 26 and in back office of a Investment Bank.) Researching on this subject i have realized that in my lifetime this could be the peak state of knowledge i could attain in terms of mathematics and computation regardless of what lies ahead in my career. But there are some students who have only missed the train and maybe a quick ride can help them catch the train on the next station.
Below is the list of books, which i hope reading in chronological order could set you on a path to become a financial engineer. You will be able to learn the most important calculus, linear algebra and probability concepts with application in Finance.
Quantitative Essentials:
Scahum's Introduction to Mathematics for Economists.
Any of the three John L. Teall books.
Market Risk Analysis by Carol Alexander. (Best)
These are the three books i was searching for ages. You can't imagine how many prefaces and contents of hundreds of books i read. Carol Alexander's book is a gift from quant gods for people left behind.
Probability all in one:
An elementary introduction to Mathematical Finance by Sheldon Ross.
Mathematics of Finance:
Mathematics of Finance an Intuitive Introduction by Donald G.Saari. (The author is a professor and has course based on this book on YouTube)
Both Dan Stefanica books.
Now you are good to read the Bibles of quant finance which are often mentioned on this forum. Now you know how far behind non quants are. You have only gained knowledge to finally be able to read the most basic quant books. But if you truly consumed books i have mentioned in a year, then you should be good enough to actually become a Quant. Now you have many paths in front of you. From here on things get difficult with Stochastic Calculus, Numerical Methods and Real Analysis coming into play(I don't know why i mentioned these two because I don't even know what they are) .You also have to learn to code C++ & Python.
Some good ones if you have time:
Introduction to Quantitative Finance: A math tool kit by Robert R.Reitano
Mathematical Methods for Finance by Fabozzi,Focardi & Bali
Happy Learning!!
I don't know if i will ever be a financial engineer but i am curious(I am 26 and in back office of a Investment Bank.) Researching on this subject i have realized that in my lifetime this could be the peak state of knowledge i could attain in terms of mathematics and computation regardless of what lies ahead in my career. But there are some students who have only missed the train and maybe a quick ride can help them catch the train on the next station.
Below is the list of books, which i hope reading in chronological order could set you on a path to become a financial engineer. You will be able to learn the most important calculus, linear algebra and probability concepts with application in Finance.
Quantitative Essentials:
Scahum's Introduction to Mathematics for Economists.
Any of the three John L. Teall books.
Market Risk Analysis by Carol Alexander. (Best)
These are the three books i was searching for ages. You can't imagine how many prefaces and contents of hundreds of books i read. Carol Alexander's book is a gift from quant gods for people left behind.
Probability all in one:
An elementary introduction to Mathematical Finance by Sheldon Ross.
Mathematics of Finance:
Mathematics of Finance an Intuitive Introduction by Donald G.Saari. (The author is a professor and has course based on this book on YouTube)
Both Dan Stefanica books.
Now you are good to read the Bibles of quant finance which are often mentioned on this forum. Now you know how far behind non quants are. You have only gained knowledge to finally be able to read the most basic quant books. But if you truly consumed books i have mentioned in a year, then you should be good enough to actually become a Quant. Now you have many paths in front of you. From here on things get difficult with Stochastic Calculus, Numerical Methods and Real Analysis coming into play(I don't know why i mentioned these two because I don't even know what they are) .You also have to learn to code C++ & Python.
Some good ones if you have time:
Introduction to Quantitative Finance: A math tool kit by Robert R.Reitano
Mathematical Methods for Finance by Fabozzi,Focardi & Bali
Happy Learning!!
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