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Statistics for the Trading Floor: Data Science for Investing
Statistics for the Trading Floor: Data Science for Investing is the best book on statistics for investing. Written for professionals by a professional trader and hedge fund manager, the book gives a thorough grounding in quantitative methods used by investing professionals.
308 pages, Paperback
Published May 14, 2020
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Displaying 1 - 3 of 3 reviews
August 8, 2025
This book is a collection of statistical topics that are useful for a career in finance.
Patrick Boyle is a terrific youtuber and has a knack for explaining complex issues in a very accessible way. Unfortunately, I didn't find that in this book. Maybe he doesn't come through to me so well in a text format as he does in a video format, but I also found the whole structure of the book very odd.
The issue is mostly that the span of complexity levels this book covers is gigantic. It covers some very basic concepts of statistics, starting off with explaining what statistics is, and how chances on a dice are calculated. In little over 200 pages we then end up discussing GARCH (generalized autoregressive conditional heteroskedasticity). This may not be Nobel prize level complexity, but the jump is still quite extreme. What's worse, the book doesn't follow a pattern of gradually rising complexity from beginning toward the end, but it rather oscillates. Sometimes complex concepts are referred to in a paragraph on something mundane, and you will only get the explanation for this many chapters later, followed by going back to basics, etc.
Where this book really shines is in the explanations of how these statistical concepts are applied in finance. I find those pages very inspiring and eye-opening. I have to say that reading this book has motivated me quite a lot to learn more about statistics, although the book itself was a bit tough to get through.
I don't quite know who the audience should be for this book. I think a better format would have been to only discuss the application of statistics in finance, such as how it should be done, and how the world of finance differs from other domains where statistics is applied. There are quite a few books out there on statistics in itself and I don't really see the need for adding another one.
Patrick Boyle is a terrific youtuber and has a knack for explaining complex issues in a very accessible way. Unfortunately, I didn't find that in this book. Maybe he doesn't come through to me so well in a text format as he does in a video format, but I also found the whole structure of the book very odd.
The issue is mostly that the span of complexity levels this book covers is gigantic. It covers some very basic concepts of statistics, starting off with explaining what statistics is, and how chances on a dice are calculated. In little over 200 pages we then end up discussing GARCH (generalized autoregressive conditional heteroskedasticity). This may not be Nobel prize level complexity, but the jump is still quite extreme. What's worse, the book doesn't follow a pattern of gradually rising complexity from beginning toward the end, but it rather oscillates. Sometimes complex concepts are referred to in a paragraph on something mundane, and you will only get the explanation for this many chapters later, followed by going back to basics, etc.
Where this book really shines is in the explanations of how these statistical concepts are applied in finance. I find those pages very inspiring and eye-opening. I have to say that reading this book has motivated me quite a lot to learn more about statistics, although the book itself was a bit tough to get through.
I don't quite know who the audience should be for this book. I think a better format would have been to only discuss the application of statistics in finance, such as how it should be done, and how the world of finance differs from other domains where statistics is applied. There are quite a few books out there on statistics in itself and I don't really see the need for adding another one.
January 17, 2026
Je docela těžké hodnotit knihu, kterou jsem četla skoro čtyři roky. :-D Dala jsem ji manželovi k narozeninám v roce 2022. On ji prolistoval, já jsem systematický čtenář, takže jsem se pokusila se tím prokousat. Po velmi pohodovém začátku (který mě vlastně docela navnadil) přišly náročnější kapitoly. Trochu mě rozčilovala nekonzistence mezi jednoduchými a složitými tématy. V jednom odstavci máte příklad pro základní školu, v druhém pomalu integrujete. Poslední kapitoly jsem, přiznám se, spíše prolétla. To je vlastně totiž rozdíl oproti mému já před těmi čtyřmi roky. Mám za sebou bakaláře a skoro celého magistra v data science oboru a ty koncepty mi nejsou cizí. Přesto některé z nich komplikované jsou a rozhodně by mi prospělo si je před státnicemi víc osvěžit. Co oceňuji jsou random informace z historického pozadí, to mě vždycky strašně baví, dozvědět se, proč se studentův test t jmenuje studentův nebo kdo to byl Gauss atd. Taky praktické příklady ze světa financí a investování se mi líbily. Půjdu po přečtení knihy investovat do hedge fundů? Určitě ne. :-D Bylo to přínosné čtení? Určitě ano.
May 4, 2025
“Statistics for the Trading Floor” is an outstanding guide for anyone serious about quantitative finance. This concise, practical book demystifies core statistical concepts with direct application to trading and risk management. From distributions and regressions to volatility modeling and hypothesis testing, each topic is clearly explained with real-world relevance. The book strikes a perfect balance between theory and practice, making complex ideas accessible without oversimplifying. It’s an invaluable resource for traders, analysts, and risk professionals aiming to sharpen their edge through data-driven decisions. A must-read that turns statistical knowledge into a powerful tool on the trading floor. Highly recommended!
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