Heard on the street
by Timothy Falcon Crack · first published 2009
75% recommend25% neutral
Why HN recommends it
Collection of quantitative brainteasers and probability questions drawn from Wall Street job interviews. It serves as practice material for quant finance interview preparation.
Summarised by Claude from recommending comments
"The book contains over 130 quantitative questions collected from actual investment banking, investment management, and options trading job interviews. The interviewers use the same questions year after year and here they are! These questions come from all types of interviews (corporate finance, sales and trading, quantitative research, etc), but they are especially likely in quantitative capital markets job interviews. The questions come from all levels of interviews (undergraduate, MBA, PhD), but they are especially likely if you have, or almost have, an MBA. The questions cover pure quantit
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…developer" in the front (and back!) office. There are three standards that you can think of as the Cracking the Coding Interview of quant finance (insofar as that is a homogenous field, which it isn't): 1. Heard on the Street 2. Quant Job Interview Questions and Answers 3. A Practical Guide to Quantitative Finance Interviews You want to also practice algorithms as you would for a Google/Facebook whiteboard interview, but…
on “Ask HN: How to prepare for algorithm trading interview as a developer” ↗…algorithms question or probability estimation. That being said if you're just talking about mathematics and statistics problems the more mainstream hedge funds like to ask their quant candidates, read Crack's Heard on the Street, Joshi-Denson-Downes' Quant Job Interview Questions and Answers, and Zhou's A Practical Guide to Quantitative Finance Interviews.
on “Dark Motives and Elective Use of Brainteaser Interview Questions” ↗…therefore critical. Some good sources of problems: Sanjoy Mahajan (2010) "Street Fighting Mathematics" Xingfeng Zhou (2008) "A Practical Guide to Quantitative Finance Interviews" Timothy Crack (2019) "Heard on The Street: Quantitative Questions from Wall Street Job Interviews"
on “Ask HN: How can I “work-out” critical thinking skills as I age?” ↗…color to it for other readers. I agree with Wilmott forums being a great starting point at the very least, though it's going to be a little esoteric for someone totally new to finance. To the OP: pick up Heard on the Street: Quantitative Questions From Wall Street Job Interviews. It's not perfect, but it's a good start. There aren't any textbooks that will take you all of the way in algorithmic trading (from finding alpha,…
on “Ask HN: What are the best resources for learning about algorithmic trading?” ↗I suppose it depends on the industry then... These are what we tend to call brainteasers in quant finance, and they're the type of problems you'll find in the book "Heard on the street" recommended above.
on “How to Get a Quant Job in Finance” ↗Wilmott.com is a good forum for financial quants. Learn C++ and Python (and OCaml if you have an eye on Jane Street). There are books such as "Heard on The Street: Quantitative Questions from Wall Street Job Interviews".
on “Ask HN: How to get started in quant trading?” ↗…quant are not that different. If you want books about trading mathematics and interviews in general, the green book (practical guide to quant finance interviews by Zhou) is the usual go-to. Falcon's Heard On the Street is another classic. Note both of these focus on generic interviews (the quant equivalent of leetcoding) usually for recruiting fresh grads directly out of school. You can probably skip some steps if you…
on “Probability and Markets by Jane Street [pdf]” ↗There's a reference to the classic Heard on the Street book but you should also check out Zhou's green book, which consists a guide on cracking the type of interview questions Google used back in the mid 2000s/early 2010s (how many ping pong balls can fit…
on “A collection of quant riddles with answers” ↗…Quantitative Professionals" [0] (yes, I know, no prize for imaginative title). So far, it's been a fantastic read. Detailed, good information, and very well written. I saw the recommendation for the "Heard on the Street" book. I was wondering if people can recommend some other books for moving into finance? [0] http://www.amazon.com/Complete-Quantitative-Professionals-Mc...
on “How to Get a Quant Job in Finance” ↗