Inside the Black Box MP3 CD – MP3 Audio, June 24, 2014

Investors looking to truly understand Quantitative and HFT trading will find this book easily accessible and receive a quality introduction to these subjects.

This is an excellent work, and vital to anyone who wants to enter the space of modern portfolio management. The author really cares about the subject and he's very learned. I would have given it 5 stars except for its defensive nature with regard to quant funds. I was hoping that tone would stop as I was looking for info on the space, not a lengthy defense. After the intro for the most part the body of the book deviates from defense of quants and into knowledge of how they operate, except for Chapter 16 which is dedicated to a defense of high frequency trading, and I just skimmed thru it.Overall however I am highly impressed by the ground Narang covers, and how much he understands about various topics, including machine learning, data cleansing, finance theory, market history, and fund selection. The book is sprinkled with fascinating information like high frequency traders measurement of trade execution down to microseconds (i.e. 0.1 milliseconds). At the end the reader is left with a highly useful framework of how a quant fund should be assessed and ideally how it should operate. From there readers can delve deeper into the math, technology infrastructure, and nitty gritty of trade execution from other materials, but I can't think of a better and more important place to start.

This book gives an excellent overview of how algo trading works. Though the author would not give specific strategies, readers can get example algorithmic strategies from "Algorithmic Trading: Winning Strategies and Their Rationale" by Ernest Chan. Chan's book has mean reversion strategies and momentum strategies. If you want a trend following algorithm, you can look up "Following the Trend: Diversified Managed Futures Trading" by Andreas Clenow. If you are not afraid of learning the "R" language, you can try machine learning algorithms for stock trading in "Data Mining with R: Learning with Case Studies" by Luis Torgo. Happy Algo trading!

Nice introduction to system trading.It does not contain profitable algorithms.But, it convert mysterious computer magic into a plain data processing program based on simple assumptions.Also, it gives such a detailed history of blind faith and abuse of the technology.Good for anyone who are interested in how the computer can make trades.

Inside the black box was a very well written book. I have always been fascinated with this technology and enjoy listening to books on trading and the Stock Market. I look forward to listening in this New Year!! Thanks

Don't know a thing about the world of quantitative trading? This will fully familiarize you. Excellent book. Also see Rishi's interview (Chat with Traders Episode 54) on youtube.

Concepts very well reasoned and consistent. The book is not technical. If you're looking for a book with algorithms it is not your book! This book is conceptual, provides a big picture of HFT.

All the book is talking about the diagram listed afore. It introduces many facets of quant trading especially common knowlege of trading, techniques.

O livro esclarece os principais conceitos de Quant Trading, e desmistifica um pouco o que se acredita a respeito disso, tornando o assunto mais real.A linguagem usada é livre de jargão técnico, ou pelo menos contém um mínimo indispensável.Não se pode chamar de "bedtime reading" e requer conhecimento de trading para ser compreendido melhor.

THIS IS AN AUDIOBOOK. NOT WHAT I WANTED.

Narang makes what seems like a complicated topic, very straightforward. The book is well illustrated with charts to depict how the "black box" functions. A must read for anyone interested in quant/algo trading.

Au niveau qualité, il existe beaucoup de rayures sur la couverture!! Le contenu est très bon: il couvre une grande partie du quants, algorithmic trading et high-frequency trading.

really nicely written, easy to understand and well structured