ABSTRACT
In this chapter we set the stage for the text by introducing the main players in the quant finance industry, and the different types of roles that quants may play in different organizations on the buy-side and sell-side. We also introduce the most common instruments that quants face, including equity and fixed income investments, forward and futures contracts, and options. Additionally, we detail the stages of a project that aspiring quants are likely to face as they progress in their careers, including data collection and cleaning, model implementation, and model validation. Finally, we provide a perspective on potential evolution in the industry in coming decades from increased adoption of machine learning to the changing delineation between alpha and beta.
