Quant skills improvement advice
I am a fundamental credit analyst that is becoming more involved in the strategy side so would like to employ some more quantitative techniques. Examples
- fair value spread for credit sub asset class based on macro variables
- fair value spread (on systematic basis) for individual issuers based on macro and credit specific variables
- maybe some kind of liquidity/risk on vs off indicator
Already have the job I want so purely about learning the skills. In terms of background I have the math/stats/econometrics one would get from an MA Econ (though rusty) and some basic r programming skills from DataCamp/fpp3 etc.
What would you recommend as the most efficient path to getting to where I want? Unfeasible? MS data science? Boot camp? Self study as I have done?
Ah, swinging from the vines of fundamental analysis to the quant jungle, are we? Let's get you geared up with some quant machetes. Based on the most helpful WSO content, here's how you can sharpen those quantitative skills:
Refresh Your Math/Stats/Econometrics: Since you've got an MA in Econ, you're already familiar with the theoretical underpinnings. Brush up on those rusty skills with targeted refresher courses or online resources like Khan Academy or Coursera.
Enhance Your R Programming: You've dabbled in R with DataCamp, which is great. Now, take it further. Dive into more advanced R programming courses that focus on financial analysis and econometrics. The tidyquant package, for example, could be your new best friend.
Learn Quantitative Finance: There are specific courses and books dedicated to quantitative finance which can help you understand the valuation of credit assets and risk management. "Options, Futures, and Other Derivatives" by John C. Hull could be a good start.
Practical Application: Apply your skills to real-world datasets. Kaggle is a platform where you can find such datasets and even participate in competitions that could hone your skills.
Networking and Mentorship: Connect with quants in your field. Based on the Networking Guide from WSO, building relationships can lead to knowledge sharing and possibly mentorship.
Consider a Specialized Program: If you're looking for structured learning, a boot camp or a specialized course in data science with a focus on finance could be beneficial. WSO has courses that might fit the bill.
On-the-Job Learning: Since you're already in the job you want, look for opportunities to take on projects that will require you to use and thus improve your quantitative skills.
WSO Academy: Don't forget to check out the WSO Academy. They have a plethora of courses that could be exactly what you need to transition into a more quant-focused role.
Remember, it's not about swinging from tree to tree hoping to catch the right branch. It's about building a sturdy ladder of skills that will take you to the heights you want to reach. Keep it fun, keep it smart, and before you know it, you'll be the king of the quant jungle!
Sources: Credit Analyst Q&A, https://www.wallstreetoasis.com/forum/trading/qa-quantitative-analysttrader-career-path-technical-topics-education?customgpt=1, How to be the Best Analyst, Quant Researcher in Quant Funds: Dead-End Career Path?, 0 to pseudo quant real quick - analytical skills for juniors with finance background
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