Sinopsis
Inside the Black Box explains how quantitative and algorithmic trading strategies work in non-mathematical terms supplemented by anecdotes and real-world stories. There is a large chasm in the understanding of what quants do with quants often perpetuating the darkness by cloaking even trivial facts about their strategies and operations in secrecy. Most of their strategies are understandable and with that understanding investment professionals can better assess a particular fund's value. The book also explains how quant strategies fit into a portfolio, why they are valuable, and how to evaluate a quant manager. How do quants capture alpha? What is the real level of discretion in quant trading? What is the difference between theory-driven systems vs. data-mining strategies? What are the typical structures of quant systems? How do quants model risk? How do you know if it works? What are execution algorithms?
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Acerca de los autores
Rishi K. Narang is the founding principal of T2AM and manages the firm's investment activities. Rishi began his career as a global investment strategist for Citibank Alternative Investment in 1996. He then cofounded Tradeworx, Inc., a quantitative hedge fund manager, in 1999 and acted as its president until his departure in 2002. For three years, he was the coportfolio manager and a managing director at Santa Barbara Alpha Strategies before founding T2AM, LLC in 2005. He is chair of the Board of Directors of Village Health Works, and has acted as an advisor to DARPA, Planet Labs, AngelList, and numerous others. Mr. Narang completed his BA in economics from the University of California at Berkeley.
Richard Brewer, a native Californian, has always been a lover of stories and storytelling. He has worked as a writer, actor, bookseller, story editor, book reviewer, audiobook narrator, and movie and television development executive. He is coeditor of the critically acclaimed Bruce Springsteen-inspired short story anthology Meeting Across the River.
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