Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Probability and Markets [pdf]

janestreet.com

Post reply on HN
Print view View original

1–10 of 75 posts

Re: Probability and Markets [pdf]

#2

Post by kwant_kiddo »

During my university studies, I found it surprising that although some topics from advanced courses might be applicable in certain jobs like at Jane Street, interviews often emphasised the fundamentals and understanding of basic concepts such as basic probability theory, rather than some specialised knowledge in Lie processes.

If you look through this PDF it does not even cover a 1.semester course in probability theory from a bachelors degree in CS/math.

I always go back to this lecture series to brush up my fundaments. https://projects.iq.harvard.edu/stat110/youtube

Re: Probability and Markets [pdf]

#4

Post by KRAKRISMOTT »

kwant_kiddo wrote: post #2

During my university studies, I found it surprising that although some topics from advanced courses might be applicable in certain jobs like at Jane Street, interviews often emphasised the fundamentals and understanding of basic concepts such as basic probability theory, rather than some specialised knowledge in Lie processes. If you look through this PDF it does not even cover a 1.semester course in probability theo…

Not Lie processes (are you referring to Lévy?), but stochastic calculus in general, which requires a strong intuition for differential equations, calculus, and statistics. Quantitative finance heavily favor those with a background in the physical sciences rather than discrete math like CS.

Re: Probability and Markets [pdf]

#5

Post by scythmic_waves »

kwant_kiddo wrote: post #2

During my university studies, I found it surprising that although some topics from advanced courses might be applicable in certain jobs like at Jane Street, interviews often emphasised the fundamentals and understanding of basic concepts such as basic probability theory, rather than some specialised knowledge in Lie processes. If you look through this PDF it does not even cover a 1.semester course in probability theo…

I second this. The fundamentals take you far, and Joe Blitzstein has fantastic material.

Slightly off topic, but how do you feel about his “story proofs”? They were the one part of his lectures that never really clicked with me, but I never talked to anyone else about it.

Re: Probability and Markets [pdf]

#7

Post by tmoertel »

scythmic_waves wrote: post #5
kwant_kiddo wrote: post #2

During my university studies, I found it surprising that although some topics from advanced courses might be applicable in certain jobs like at Jane Street, interviews often emphasised the fundamentals and understanding of basic concepts such as basic probability theory, rather than some specialised knowledge in Lie processes. If you look through this PDF it does not even cover a 1.semester course in probability theo…

I second this. The fundamentals take you far, and Joe Blitzstein has fantastic material. Slightly off topic, but how do you feel about his “story proofs”? They were the one part of his lectures that never really clicked with me, but I never talked to anyone else about it.

Readers, if you want a great into to probability co-authored by Joe Blitzstein, see https://stat110.net/.

Re: Probability and Markets [pdf]

#8

Post by andsoitis »

Utkarsh_Mood wrote: post #3

Honestly I expected it to go over far more advanced topics than these, most of these are covered in the last year of high school over here.

> Honestly I expected it to go over far more advanced topics than these, most of these are covered in the last year of high school over here.

Opening sentence: The goal of this document is to present an introduction to probability and markets in what we hope is a fairly intuitive and accessible way.

Re: Probability and Markets [pdf]

#9

Post by antegamisou »

For the experts in the thread complaining about the simplicity of the excellent introductory text in the OP, here's an exciting reading for you:

    Statistical Consequences of Fat Tails: Real World Preasymptotics, Epistemology, and Applications by Nassim Nicholas Taleb
https://www.amazon.com/Statistical-Consequences-Fat-Tails-Pr...

Beware that it may be way more advanced than what you'd expect though.

Post reply on HN