Book for Statistics

C

cfaboston28

New member
Joined
Apr 16, 2007
Messages
0
Reaction score
0
Hi Guys,

I remember somebody in this forum told about some book on Statistics (to learn Hypothesis, Regression, Sampling and Estimation and Probability).

Does anyone remember the name of that book? I want to buy that book to learn that stuff.
 
Are you talking about "The Cartoon Guide to Statistics"?

I actually picked it up back in January when I was struggling with hypo testing, but never got around to reading the whole things because I started to realize the low relative weighting of hypo testing on the exam. However, I did flip through it and it seems like a good book to have. I'm going to dig into it one of these days. Its pretty cheap on amazon.com
 
I don't know if that somebody was me, but I commented on a stats book I thought was pretty good a while back. It might be worth checking out.

http://www.analystforum.com/phorums/read.php?11,486940,486940#msg-486940
 
You could use Quantitative Methods for Investment Analysis.
 
That Freedman, pisani book is the standard text book in statistics for the intimidated classes all over colleges in the US. It's obviously a good book, but shouldn't an investment professional shoot for something a little higher? Honestly, I have used that book in classes for people who couldn't graph a line, compound interest, etc..
 
So Prof. Joey which book should I refer to learn this crappy section of Quants.
 
I apologize. Please accept that. I felt it very tough.

OK tell me what book should I refer to?
 
Don't let Joey bait you. While I admire anyone who aspires to the best they can achieve, there are times when you need to focus on the concrete and realistic. In this forum, I strongly believe that focus should be on passing level 1. Otherwise I might as well also tell you to read Charles Kindleberger, Peter Bernstein and Nassim Nicholas Taleb in response to every question posted here. They are great suggestions, but not necessary to the task at hand.

The statistical material for level 1 is a bit daunting at first to many. However, as already stated, it is not heavily tested. And the most difficult portions are the least heavily tested. And when they are tested they are not tested in a rigorous quantitative manner.

Just keep that in mind.
 
Something "a little higher" is a different discussion. CFABoston said he wanted to "learn that stuff" where stuff is hypothesis testing, regression, sampling, and so on. None of that is specific to finance. Should an investment professional know more? Of course. Should someone who is rusty in stats or just never learned it seek out an advanced book on stats specific to investments as a primer? Not in my opinion.

To answer your question, yes, an investment professional should look for something a little higher. I just don't think they should *start* at something a little higher.

As for the Freedman, Pisani, Purves book, I thought it was easy to get through quickly, yet still hit on the fundamentals pretty well. Use whatever works, this is only a suggested primer.
 
At most colleges in the US there are about three levels of classes taught called 'Statistics'. The lowest level uses Freedman,Pisani, Purves or similar. Such a course would require no mathematical ability or prerequisites and would fulfill a general college math requirement. Then there is one that would be taught to Economics/social science majors using a book like McClave. Then there is one taught to math majors using say Hogg and Craig. The McClave book is used by college sophomore econ majors. I guess I would like to think that a CFA charterholder has stats down as well as a sophomore econ major.
 
My college econ core is loaded with stat, econometrics, calculus, and linear algebra.
 
You must log in or register to reply here.
Back
Top