Transcription of ON BECOMING A QUANT - Mark S. Joshi
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ON BECOMING A QUANT - Mark S. Joshi
ON BECOMING A QUANTMARK JOSHI1. WH AT D O E S A QUAN T D O?A QUANT designs and implements mathematical models for the pricingof derivatives, assessment of risk, or predicting market WH AT S O RTS O F QUAN T A RE TH E R E?(1) Front office/desk QUANT (2) Model validating QUANT (3) Research QUANT (4) QUANT developer(5) Statistical arbitrage QUANT (6) Capital quantA desk QUANT implements pricing models directly used by traders. Mainplusses close to the money and opportunities to move into trading. Mi-nuses can be stressful and depending on the outfit may not involve model validation QUANT independently implements pricing modelsin order to check that front office models are correct.
ON BECOMING A QUANT MARK JOSHI 1. WHAT DOES A QUANT DO? A quant designs and implements mathematical models for the pricing of derivatives, assessment of …
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