Start here: quant finance foundations
3 readings
Find your direction, refresh probability, then connect the mathematics to a financial model.
- Who this is for
- Readers who are new to quant finance and comfortable with school algebra.
- What you will work towards
- Explain what a quant does, calculate an expected payoff, and identify the assumptions behind a simple pricing model.
Before you start
Use these SMQ lessons to check the ideas the readings assume. Lesson pages show the outline and how to access the full lesson.
- Expectation, Mean, and Variance
Read expected payoffs and risk estimates in the same mathematical language.
Read in this order
On Becoming a Quant by Mark Joshi
Start with the work and the roles before choosing a stack of textbooks.
Introduction to Probability and Statistics
Build the probability vocabulary used in both research papers and interviews.
Options, Futures, and Other Derivatives, Ninth Global Edition
Give the mathematics a concrete financial setting.
Continue your study on SMQ
- The Black-Scholes PDE, Formula and Implied Volatility
Connect replication, the pricing equation, and the volatility quoted by a market.
Follow the connected lessons, worked examples, and exercises in the app. Full lesson access depends on the topic and your membership.
Explore the options pricing programme