Finance

>>3302740
Read fucking Folled by Randomness and Black Swan by Nickyyy and study Wilmott.

Always assume models are bs. You will learn finance on the go.
Also apples and oranges. Corp finance is a different pair of socks compared equity which is diff compared to fixed income and derivatives.
Much easier to grad maths and learn finance on the job than do reverse.

Source - passed all CFA exams, work in a derivatives desk.

That's a tough question anon. It really depends on the level of detail you want to valuable an asset at. I mean, basic NPV, IRR, PV, FV calculations are quant based, but they all inherently rely on CF as a given.
The hard part of finance is figuring out CF, otherwise you're just throwing darts at a board. This is also why people trade stocks st different prices though, because they have different risk tolerances, and different estimates of CF.
t. Guy with BS in finance, MBA, job as sr financial analyst.

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>>3302740

>>3302794
Thanks for the recommendations.
>You will learn finance on the go
I figured IB/HF expected their quants to be at least somewhat knowledgeable already. Or do they provide training, despite that being a waste of time?
>>3302818
>The hard part of finance is figuring out CF
Got any resources to recommend?
>>3302881
Thanks.

>>3303457
>I figured IB/HF expected their quants to be at least somewhat knowledgeable already. Or do they provide training, despite that being a waste of time?

Knowing how to solve complex math problem >>>>> financial knowledge. That's a p good source too:
https://www.quantstart.com/

They will prolly ask you for some financial basics and they will test you hard on logic, stochastics etc with brainteasers. One of the classics is that "spider roaming on a dice" brain teaser checking markov chain knowledge.

Don't bother going in with subject specific knowledge. 80% of material I learned studying to CFA is not used at all, 20% is great in my speciality, but it's not an expert level, more like good place to start and dig more.

>>3302881
half of the books is bs half of the book is great

Also if you'll have to read one book on financial mathematics - it has to be "Optionm Futures and other Derivatives" by Hull aka the Bible.


ps. All companies provide training. Sure basics will take you a few weeks, but basically everyone on analyst/associate level is on the training to be honest. Sure they know these topics good and can handle dozen of complex stuff, but they also know that there is a lot of stuff they don't know.

Also some stuff you will sometimes learn overnight (once I got dragged to a project outside my are of expertise, had to read about the background for 2 days so that I could understand the buisness lingo of that are). It's always learning, also stay sceptical (sceptical about yourself too).

>>3303791
also sorry for leddit spaces I'm jacked

>>3303791
Ok, thanks again man.

>>3302740
Just read an introductory finance textbook. You'll pick up all of the key points you need to start quantitative finance. Also, you might browse a textbook on financial engineering. Good, fun, applied mathematics to be found there.

>>3303457
>figuring out cash flow
A company's statement of cash flows would be a good start, but that's only for current time frame. If the company/investment is expected to have better cash flows in the future, adjust accordingly. This is why no forecast is ever "correct" (but they're still better than nothing).
For example, I work on commercial real estate valuations. A lot of my clients have older properties that they refurb, bump up rents, and then eventually sell off again. There's no way to really know what rent income is going to be at any one property, so you use assumptions to forecast CFs. Like properties of this type get $x a square foot, and have 90% occupancy. You apply those metrics across the board.
These metrics exist for all asset types, but are usually specific to an industry. Analysts will stick to an industry they know, generally, and apply the known metrics. One universal metric is EBITDA, which gives a general idea of income regardless of debt structure (debt is good, to an extent bc tax deductions on interest payments) and amortization/depreciation (which rates are variable based on asset type and accounting practice). EBITDA varies a lot however, based on industry and life cycle of the company.
Needless to say quant finance is different than just maths. Its not terribly difficult tho, and more accounting gets involved the more you delve into it.