Inside the Black Box: The Simple Truth About Quantitative Trading

Rishi K. Narang

Jul 2020 · Gildan Media · Narrated by Richard J. Brewer

About this audiobook

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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About the author

Rishi K. Narang is the founding principal of T2AM and manages the firm's investment activities. 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.