hi in this CashNews.co I’m going to be answering a question that I received from a viewer this person’s name is Lindsay and the subject is worried about being unprepared for graduate school I’m going to read the question in its entirety and then I will do my best to answer
the question I have not read this question yet I’ve only read the subject and the person’s name so again I’ll do my best if you have any advice for this person please leave a comment in the comment section below remember every time you leave a comment it helps other people too and
this email seems to be very very well written so I’m going to go through it carefully and do my best good day I’ve been watching your CashNews.cos for quite some time and I was hoping that you might be able to provide me with some assistance I received an offer for a master’s in
Applied Mathematics at and I’ll leave the school out why I plan on opting for the thesis option where I plan on working with the financial mathematics research group to prepare myself for a career and quantitative text-decoration: none;">Finance my concern is that while I do really enjoy mathematics I do not have an undergraduate degree in maths I have a major in economics and a minor in mathematics this program for which I received an offer is designed for people who do not have mathematics
undergraduate degrees while I’ve done four semesters of calculus two of linear algebra and an intro to Odes I’m worried about certain courses that I will be doing specifically real analysis and probability to brush up on my probability and statistics I’ve been working through
mathematical statistics with applications by wackerly for watching a review on it but I’m worried about lacking the requisite mathematical maturity for these courses I was hoping that you would be able to direct me towards some resources that I could use to prepare myself for the program
I’m sure that there will be a heavy focus on probability which I am definitely weak on as all the statistics courses I’ve taken in undergrad have been econometrics econometrics I think that’s how you say it I can’t say it not pure stats thank you in advance Mr Lindsay oh
mister and then she says her name okay um so my advice a couple things so when I saw the title of this email I immediately grabbed a book because I thought this is going to be a fun book that will make you excited about being prepared so this book is called all the mathematics you missed but you
need to know for graduate school so this book is not particularly on statistics or probability but it has a lot right there’s a lot of math in this book it’s not going to teach you everything but it’ll open your mind to all the things out there so it’s worth getting if you
want I think it’s a fun book this is the kind of book that you can like lay in bed at night and read it and it just kind of gives you some nice motivation I’ll try to leave a link in the description Thomas Garrity is a great mathematician a great teacher a great person a great author
fantastic book so fun book that will give you some motivation and we’ll show you everything that’s out there I’ll leave a link in the description the second book you should get I didn’t grab it before this CashNews.co because I didn’t know you were talking about
statistics until now um is the book by Ross okay just look up Ross probability it’s a pretty good book having said that it’s also pretty terse and honestly I don’t think there’s an easy solution other than the book you have by wackerly which hopefully you have a Solutions
manual for and the book by Ross those two books and a lot of hard work and effort and you know as my old teacher used to say banging your head against the wall will help you grind through uh the probability that you’re going to need to know the good news and this is something that you might
not realize is that you’re working on it now right you’re not even in graduate school yet and you’re already preparing for graduate school I think that is awesome and I think you’re going to do great because of that so keep working through that book by wackerly if you
don’t have the solutions man you’ll get it I know it’s just a standard textbook I mean it really is so was the book by Ross these are just standard everyday statistics books that are definitely more rigorous than the stats books you’ve probably used in your classes so keep
working through those as far as maturity if you can pick up a book on proof writing that would help but again this is not really focused on stats but it will help your maturity there’s a free book online called The Book of proof by Richard hammock uh you can just Google it and if I remember
I’ll leave a link in the description it’s free or you can buy a physical copy on Amazon they have both hardcover and soft cover and that’s a great book for learning to write proofs not the perfect book but it’s free and again that’s the kind of book that’ll kind
of just give you some inspiration and motivation you’ll learn how to write like little simple proofs which you can translate later to the proof writing that you see in the books by Ross and by wackerly so it will help you as far as courses I do have courses not specifically on proof writing
and probability uh on udemy I’ll leave links in the description if you scroll down you’ll see them I’ve got one on set theory one on functions an advanced calculus and an abstract algebra course those four courses focus on proof writing which again will help your maturity so for
maturity I would request comment the book by hammock and those courses or statistics the wackerly book as well as the solutions manual and the Ross book for inspiration all the mathematics you missed if anyone has any advice for Lindsay please leave a comment in the comment section below I think
you’re going to do great Lindsay especially because you’re repairing ahead good luck
CashNews, your go-to portal for financial news and insights.
Cool, i find again this channel.
I can not connect to ma last account cause they stole me cellular etc..
I do not remember the name of tus channel. Now i get it🎉.
Question do you know wich books for selfmade math in finance and in computer science?
I ve just highschool diploma but i m not more stupid than the guy who had the chance of getting a degree or a phd
Wow thank you so much for creating a video response to my question, I can’t believe I missed it! Btw, I signed off the email with “Mr. Lindsay” because I’m male but I guess that wasn’t terribly clear lol.
Hey Math Sorcerer have you ever broken down what paying off a student loan looks like on paper?
Do you have a networth target
Now I am in my second year btech cs, I want to go in quant role for that I need to know beginning to advance of probabilities and statistics. Can u make a roadmap
hey, I hope this reaches you i am in 3 year of my engineering college and i wanna break into quant or risk managment or investment banking ,which course should i consider taking in my masters that would help me as my core is data science and i am not from the us
There are tonnes of informations in mathematics is there any ways of managing a mathematical concepts???
Lindsey is also a boys name in Northern US 90's
There is a typo in the title of the video: it should be "quantitative" 🙂
I wish I had seen this kind of videos in my childhood and not at the age of 62. I too would have fallen in love with mathematics. Good video. Thanks for upload.
Oh, this is very nice knowing, that I am not the only one pursuing the same educational path. I am after BSc in Financial Analysis (economics and finance), had a lot of statistics, forecasting, econometrics, maths for economics. In October I am starting my MSc in Financial Maths. I believe, I made the right choice!
Thank you very much sir
Dimitri Bianco is a good channel that covers a lot of Quantitative Finance subjects! Check his channel!
Ive seen Quant salaries between 175k to 400k a year, with data points above or below this, but the money is good. Even so, I don't trust banks very much, lol.
Hi, I just wanted to mention that for a rigorous option pricing book you might want to check out Shreve. The first volume pretty much doesn't require math background, it is short, extremely well written and simple (it's all about the binomial model, which is discrete and very intuitive). The second volume is the hardcore one, where he briefly starts with sigma algebras, filtrations, Lebesgue integral…
This is a very interesting take, I actually have exactly the opposite problem to be honest. I graduated in math, did a master's in algebraic topology (it was mostly cohomology theory but still) and I've decided that it's too dense of an area for me with too narrow exits on the private sector to continue, thus I turned to econometrics and quantitative finance for my PhD. I find beffudling that there is no clear avenue in doing something related to quantitative finance.
In the end I decided to go to the high-frequency empirical data point of view, where the financial and economical literacy required is minimal (it's mainly statistics and data science).
If anyone knows a way that I can follow, any books to read or any guidelines at all, please commend. (I have an unlimited supply of "take and forget" books from my university's library so at the moment I just borrow whatever I find interesting and relevant but it's too time consuming with bad results, since I'm basically picking at random)
If I ever become rich, I will send you a cordial invitation to lunch.
You are a guru for pathways into maths. Thankyou maths Yoda!
Brownian Motion Calculus by Wiersema is the book I’m working through with my grad program for stochastic calculus. I’ve found it very approachable compared to some of the other books on the subject.
I'm laughing I love this
Great question! I am in a similar spot, preparing to enter Graduate School in Math. I had a class I took as a non-degree student in Probability, where we used Ross' Intro to Probability Models. Great book, but super dense at times. I used Ross' A First Course in Probability as a supplement and found that significantly easier to work through. I think using Ross' A First Course along with Wackerly and the other texts the Sorcerer mentioned should put you in a good position. Hope this helps!
Very rigorous: Methods of Mathematical Finance by Karatzas & Shreve published by Springer Verlag. Requires mathematical maturity. But the most complete theoretical treatment I have seen.
Is measure theory required for stochastic calculus? (from a pure math perspective)
Nico van der Wijst
Finance: A Quantitative Introduction
The Hull book, ‘Options, Futures and Other Derivatives’ is an industry standard. You will always find one on a quants desk.
And the other by Stephen blyth
My major is also Economics and the sorcerer is really helping me with my math.
I have a MS in computational finance and work as an investment advisor. One of my professors used to say, "Slow down and lower your goals." There is no short cut to understanding because stochastic calculus is not obvious. For instance, in freshman calculus the product rule is (f(x)g(x))'=f'(x)g(x)+f(x)g'(x). In stochastic calculus the product rule is (f(x)g(x))'=f'(x)g(x)+f(x)g'(x) + f'(x)g'(x), so there is an extra term. This is because in continuous stochastic process, the function is continuous everywhere but smooth nowhere. In any case, it is a slow process getting used to it (it was difficult for me). Also, if you haven't had calculus based physics, it will help if you take some time to get familiar with the heat diffusion equation. It wouldn't hurt to study numerical analysis and have some familiarity in Python or Mathematica. I came into the program with a weak background, but I made it. I think it is well worth the effort.
Finance is more "statistical" and economics is more "mathematical" . I suggest you read the syllabus of some courses in the graduate program. Also simply write to the professors of the graduate program or simply the professor of your bachelor's. They will know. Anyway, you'll find math and stats but I think you should focus on getting the probability and proof writing skills since those are harder
Just saw in the background a book with the title "Origametry". Maybe we can have a review? Wonder what kind of exercises that book may have