What is Quant Strategies?

[fkingloser]

Hello, I am a student who is interested in Quantitative analyst position in the near future.
I recently got an invitation for interview with Credit Suisse Markets Solutions Group, which I wrote down my preference for Quant Strategies Team.
I get some ideas about the difference btw Quant research and quant trading, but I'm really unfamiliar with the term Quant Strategies.
Could anyone shed some light by giving some information or useful links for understanding the terms, and possible measures for preparing for the interview?
I know that quant trading/research would start with some probability/statistics/game brainteasers. Would the interview structure for Quant strategies be the same?

 

[bigbadwolf]

It's a bullshit word, sorry to say. The term "quant strategies" was probably concocted by some corporate empty suit. If you're forced to discuss it, you'll find yourself having to talk specious and vague bullshit.

On a side note some of us were discussing the difference between tactics and strategy on a chess page. One good example was that when you ply a girl with chocolates, wine, and roses, that's strategy. When you put something into her drink so that you can lay her, that's tactics. My own example is that planning a hit on a high-level target is strategy; pulling the trigger is tactics. Even in chess there's no dividing line between tactical thinking and strategic thinking. Though the Japanese game of Go might be a little different (I'm too ignorant to know).

 

[KillingField]

I assume you're referring to QIS, which is a function that all the major banks have, and it's often called the same, too, and has to do with creating, selling, and hedging investable indices. It depends on the bank, but a common setup is that structurers create new indices that quants help build models for trading so they can hedge risks.

This, and as a general statement almost all the quant operations at banks, have little to do with quantitative research/trading distinctions that you are referring to. The role you are applying is neither. Terms are anyway meaningless and a quant at a bank, be they called a quantitative researcher or analyst, or a strategist can do one of many different kinds of jobs.

 

[throll]

Quantitative Strategies Group (QSG) is the function that groups the quants and strats for all assets classes in bank (Equity, Rates. electronic Trading etc). Banks have different name for the quant group. I think CS, GS, BAML, MS call it QSG whereas Barclays, Citi call it QA (Qunatitative Analysis). QIS quants will be in QSG/QA typically, however QIS sturcturing/sales/trading will be in a different group S&T but supported by QIS quants.

There is also strategy/strategist (and quantitative strategy), these are typically people in the Research department. It's those guys you see speak on Bloomberg TV and CNBC.

Quants in banks do some sort of quantitative trading but not the stuff you expect (prediction, which is typically done in hedge funds). Electronic trading quant team under QSG are often called eFX, eCredit, etc they build models to help with market making (bid-ask) and trading (efficition order execution not prediction).