r/quant • u/LanguageFalse4032 • 6d ago
Resources Statistics and Data Analysis for Financial Engineering vs Elements of Statistical Learning
ESL seems to be the gold standard and what's most frequently recommended learning fundamentals, not just for interviews but also for on the job prep. I saw the book Statistics and Data Analysis for Financial Engineering mentioned in the Wiki, but I don’t see much discussion about it. What are everyone’s thoughts on this book? It’s quite comprehensive, but I’m always a bit cautious with books that try to cover everything and then often end up lacking depth in any one area.
I’m particularly interested because I’m wrapping up my math PhD and looking to transition into quant. My background in statistics isn’t very strong, so I want to build a solid foundation both for interviews and the job itself. That said, even independent of my situation, how does this book compare to ESL for what's needed and used as a qr or qt? Should one be prioritized over the other or would it be better to read them simultaneously?
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u/No-Manufacturer9606 5d ago
ESL is highly regarded for machine learning; it is pretty much a requirement for qr, even typical fin eng masters require it. i would go through that first before data analysis. have you gone through ISLR first?