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I applied via Company Website and was interviewed in May 2024. There was 1 interview round.
VaR stands for Value at Risk, a measure used to estimate the potential loss in value of a portfolio over a specified time period under normal market conditions.
VaR is calculated by determining the maximum potential loss within a specified confidence level over a given time horizon.
There are different methods to calculate VaR, including historical simulation, parametric method, and Monte Carlo simulation.
For example, th...
VaR for bonds can be calculated using historical simulation, parametric method, or Monte Carlo simulation.
Historical simulation involves using historical data to calculate potential losses.
Parametric method uses statistical techniques to estimate potential losses based on assumptions about the distribution of bond returns.
Monte Carlo simulation involves generating multiple scenarios and calculating potential losses in ...
Yield is not the same as coupon. Yield is the return on investment, taking into account the current market price of the bond.
Yield is the return on investment for a bond, taking into account the current market price.
Coupon is the fixed interest rate paid by the bond issuer to the bondholder.
Yield can be higher or lower than the coupon rate, depending on the bond's current market price.
For example, a bond with a $1,000 ...
To quantify if an OLS is the best fit, one can use metrics like R-squared, adjusted R-squared, AIC, BIC, and F-statistic.
Calculate the R-squared value - a higher R-squared indicates a better fit
Calculate the adjusted R-squared value - it penalizes for adding unnecessary variables
Check the AIC and BIC values - lower values indicate a better fit
Analyze the F-statistic - a significant F-statistic suggests the model is a g
Use statistical tests like Kolmogorov-Smirnov test or Anderson-Darling test to compare the distributions of the two time series models.
Apply Kolmogorov-Smirnov test to compare the cumulative distribution functions of the two time series models.
Use Anderson-Darling test to compare the empirical distribution functions of the two time series models.
Plot histograms of the two time series models and visually inspect for sim
Duration adjustment can be positive or negative depending on the direction of interest rate movement.
Duration adjustment is positive when interest rates decrease, leading to an increase in bond prices.
Duration adjustment is negative when interest rates increase, resulting in a decrease in bond prices.
Investors use duration adjustment to hedge against interest rate risk in their portfolios.
I applied via Company Website and was interviewed in Apr 2023. There were 2 interview rounds.
I have a strong background in quantitative analysis and have worked on various projects in the field.
Bachelor's degree in Mathematics with a focus on statistics
Internship at XYZ Investment Bank, where I developed quantitative models for risk assessment
Led a team of analysts to develop a trading algorithm that outperformed the market by 10%
Published research paper on machine learning techniques for financial forecasting
...
I am passionate about using quantitative analysis to solve complex problems and make data-driven decisions.
I have a strong background in mathematics and statistics, which are essential skills for a quantitative analyst.
I enjoy working with large datasets and using statistical models to uncover patterns and insights.
I am excited about the opportunity to apply my analytical skills to financial markets and investment stra...
I am passionate about quantitative analysis and believe that joining your team will provide me with the opportunity to apply my skills and contribute to meaningful projects.
I have a strong background in mathematics and statistics, which are essential for quantitative analysis.
I am excited about the prospect of working with a team of experienced quantitative analysts and learning from their expertise.
Your company has a ...
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I applied via Campus Placement and was interviewed in Dec 2016. There were 5 interview rounds.
Morgan Stanley is a top-tier investment bank with a strong reputation for innovation and excellence.
Morgan Stanley has a long history of success in the financial industry
The company is known for its innovative approach to investment banking
Morgan Stanley has a strong reputation for excellence in research and analysis
The firm offers a wide range of services to clients, including wealth management and investment banking
M...
Tower and Morgan Stanley are both financial services companies.
Tower is a global investment management firm with over $1 trillion in assets under management.
Morgan Stanley is a multinational investment bank and financial services company.
Both companies offer a range of financial services including wealth management, investment banking, and asset management.
Tower is known for its focus on sustainable investing, while Mo...
The job profile offered is for an analyst position. A PhD is not required for this role.
The job involves analyzing data and providing insights to clients
A PhD is not necessary as the role focuses more on practical application of analytical skills
The job may require a bachelor's or master's degree in a related field
Examples of job responsibilities may include data collection, statistical analysis, and report writing
Innovations to minimize cost of pen
Use recycled materials for pen body and ink
Simplify design to reduce production costs
Implement refillable ink cartridges to reduce waste and cost
Partner with companies for bulk purchasing of materials
Automate production process to reduce labor costs
Prove N>=N^.5+N^(1/3)+N^(1/4) for N>=a
Use AM-GM inequality
Substitute N with a and prove the inequality holds
Use calculus to find the minimum value of the expression
Finding the probability distribution for the minimum of two random variables with given distributions.
Use the formula P(min(x,y)>z) = P(x>z)P(y>z)
Integrate over the range of z to get the distribution of min(x,y)
Final distribution is 2ke^(-kx)ue^(-ux)exp(-uz)
Given prob. p of dying out and prob. (1-p) of spawning into 2, find prob. of dying out starting from 1 organism.
Use probability tree to visualize outcomes
Probability of dying out starting from 1 is p + (1-p) * (probability of dying out starting from 2)^2
Solve recursively to get final answer
Probability of a rectangle being inside a unit circle with p chosen uniformly on the circle and q inside the circle.
The probability can be found by calculating the ratio of the area of the rectangle to the area of the circle.
The area of the circle is pi and the area of the rectangle can be found using the distance between p and q.
The probability is 1/4.
Example: If the distance between p and q is 0.5, then the area of t...
Find local minima of an array in o(log n) in functional programming.
Use binary search to find the local minima.
Check if the mid element is a local minima, if not, move towards the lower side.
If the mid element is greater than its left element, move towards the left side, else move towards the right side.
Repeat until a local minima is found.
Example: [5, 3, 2, 4, 6, 8, 9] -> local minima is 2.
Code to sort a list without pipes
Use a sorting algorithm like bubble sort, insertion sort, or selection sort
Implement the algorithm in the programming language of your choice
Test the code with different input sizes and types
To find an even length palindrome in a string in O(n), we can use the two-pointer approach.
Initialize two pointers at the center of the string.
Expand the pointers outwards while checking if the characters at both pointers are equal.
If they are not equal, return the previous substring as the even length palindrome.
If the pointers reach the end of the string, return the entire string as the even length palindrome.
Possible values of determinant of matrix A given Avi=Vj for n linear vectors
The possible values of |A| are non-zero as the given vectors are linearly independent
The value of |A| can be calculated using the formula |A| = (-1)^n * det(A)
If the given vectors are orthogonal, then |A| is the product of the magnitudes of the vectors
A and B play a game with unfair coin. A wins if # of heads > #tails +1 at any point. Find prob. of A winning.
The game is played with an unfair coin with P[Heads]=p
A wins if # of heads > #tails +1 at any point
Find the probability of A winning
Find two elements in a sorted array that add up to a given sum in linear time.
Use two pointers, one at the beginning and one at the end of the array.
If the sum of the two pointers is greater than the target, move the right pointer to the left.
If the sum of the two pointers is less than the target, move the left pointer to the right.
Repeat until the sum is found or the pointers meet.
Example: Given [1, 2, 3, 4, 5] and ta
The probability of element at 20th position landing up at 31st position after the first iteration.
The probability depends on the size of the dataset and the algorithm used for iteration.
If the algorithm involves swapping adjacent elements, the probability is higher.
If the dataset is sorted in a way that the element at 20th position is adjacent to the element at 31st position, the probability is 1.
The probability can be...
Expected number of collisions between randomly moving ants on a rod after 30 seconds.
Calculate the probability of two ants colliding at any given time.
Use the formula for expected value to find the expected number of collisions.
Assume that the ants are point masses and collisions are perfectly elastic.
Consider the possibility of multiple ants colliding at the same time.
Simulation can also be used to estimate the expect
Counting permutations where numbers between u and i+1 are less than i for all i in the permutation.
The first number in the permutation must be 1.
For each i in the permutation, all numbers between u and i+1 must be less than i.
Use dynamic programming to count the number of valid permutations.
The answer is (n-1)th Catalan number.
Example: for n=4, the answer is 5.
Finding f(n) for a normal standard distribution with a given constant k.
Calculate the product of probability density function and cumulative distribution function.
Integrate the product of f(x) and F(kx) from -inf to +inf.
The value of k is a constant greater than 0.
Number of inversions in an array in O(nlogn) time.
Use merge sort algorithm to count inversions
Divide the array into two halves and recursively count inversions
Merge the two halves and count split inversions
Time complexity is O(nlogn)
I applied via Referral
I was interviewed in Dec 2016.
Debugging steps for a slow web portal
Check server load and resource usage
Analyze network traffic and latency
Review code for inefficiencies and optimize
Use profiling tools to identify bottlenecks
Consider caching and content delivery networks
Test and monitor performance after changes
Denormalization, indexing, caching, and partitioning can improve query performance.
Denormalize the data to reduce the number of joins required for queries.
Create indexes on frequently queried columns to speed up search.
Cache frequently accessed data in memory to avoid disk reads.
Partition large tables into smaller ones to reduce the amount of data that needs to be scanned.
Use query optimization techniques like query re...
Sorting algorithm organizes data in a specific order.
Choose a sorting algorithm based on the data size and type.
Common sorting algorithms include bubble sort, insertion sort, and quicksort.
Implement the chosen algorithm in code.
Test the algorithm with sample data to ensure it sorts correctly.
My parents inspire me the most.
Their hard work and dedication to providing for our family motivates me to work hard.
Their unwavering support and encouragement has helped me overcome challenges.
Their values and principles have shaped me into the person I am today.
Seeing their sacrifices and selflessness inspires me to be a better person.
A leader should possess qualities like vision, communication, empathy, integrity, and adaptability.
Vision: Ability to see the big picture and set goals accordingly
Communication: Ability to convey ideas clearly and listen actively
Empathy: Ability to understand and relate to others' emotions and perspectives
Integrity: Consistency in values, actions, and decisions
Adaptability: Ability to adjust to changing circumstances a
Morgan Stanley is a top-tier investment bank with a strong reputation for excellence and innovation.
Morgan Stanley has a long history of success in the financial industry
The company is known for its innovative approach to investment banking
Morgan Stanley has a global presence and offers a wide range of services to clients
The firm has a strong commitment to diversity and inclusion
Morgan Stanley is a great place to work
DB is a crucial component for storing and managing data in various applications.
DB stands for Database and is used to store and manage data in various applications.
It allows for efficient data retrieval and manipulation.
There are various types of databases such as relational, NoSQL, and graph databases.
Examples of popular DBMS include MySQL, Oracle, MongoDB, and Neo4j.
Yes, an algorithm I designed at Microsoft can be applied to a problem in the stock market domain.
I designed an algorithm at Microsoft that can be used in the stock market domain
The algorithm can be applied to solve a specific problem in the stock market
The work I did at Microsoft has potential applications in the financial industry
Answering a question about estimating quant score and overall score in finance.
I estimate my quant score to be X based on my preparation and practice.
Adding my quant score to the avg finance score may or may not result in the highest overall score, as it depends on the scores of other candidates.
However, I am confident in my abilities and believe that I can perform well in both areas.
I am open to discussing my preparat...
Tower Research does not align with my career goals and interests.
I am looking for a company that aligns with my values and interests
I have researched Tower Research and do not feel it is the right fit for me
I am seeking a company with a strong focus on innovation and collaboration
Tower Research may be a great fit for others, but it is not the right fit for me
I applied via Walk-in
based on 2 interviews
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based on 4 reviews
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