Quriositiy vol 09 issue 02

Play Smart and Earn a lot – Mutual Funds

Skewness & Kurtosis -Its application

Stephen William Hawking (1942-2018)

QURIOSITY

VOLUME 09 EDITION 02

FEBRUARY 2018 MONTHLY NEWSLETTER OF QUANTINUUM – The quant & analytic forum

K J SIMSR Vidyavihar, Mumbai

www.quantinuumsimsr.com

Q U R I O S I T Y - V O L - 9, E D I T I O N – 2

Editor’s Note Welcome to the latest issue of Quriosity, the monthly newsletter of Quantinuum!

Quantinuum, the Quant and Analytics committee of KJ Somaiya Institute of Management Studies and Research aims to empower students and professionals alike to organize and understand numbers and, in turn, to make good and rational decisions as future managers. The newsletter published monthly consists of a gamut of articles for readers ranging from beginners to advanced learners so as to further enrich the young minds understand the contributions made to the field of mathematics along with a couple of brain-racking puzzles.

The objective of Quriosity is to publish up-to-date articles on data analytics, alongside relevant and insightful news. This way the magazine aspires to be vibrant, engaging and accessible, and at the same time integrative. The edition includes how can we invest smartly and earn by investing in Mutual Funds. It also gives us insights on the Kurtosis function. This edition also includes some insights on the Quantinuum Annual Day. Bunch of events were included in QAD – Guest Lectures, Quantambola and Quantathlon.

Needless to say, any articles that you wish to submit, either individually or collaboratively, are much appreciated and will make a substantial contribution to the development and success of the newsletter.

For any further queries and feedback, please contact the following address: KJ Somaiya Institute of Management Studies and Research, Vidyanagar, Vidyavihar, Ghatkopar East, Mumbai -400077 or drop us a mail @ newsletter.quantinuum@gmail.com Thank you and Happy Reading!

Editorial Team Quantinuum Mentor:

Editorial Team:

Prof. N.S.Nilakantan (+919820680741) Email – nilakantan@somaiya.edu

VVNS Anudeep (+919441201685) Kapil Gupta (+917727936906) Khushbu Mehta (+919930158610) Aditya Sharma (+918302525599) Samoshri Mitra (+918697440265) Dropad Saxena (+919582337930) Akshay Nagpal (+918800114925)

Team Leaders: Purav Shah (+917708521382) VVNS Anudeep (+919441201685) Yatharth Jaiswal (+919969698361)

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Contents TOPIC

PAGE NO

Cover Story PLAY SMART AND EARN A LOT – Mutual funds

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by V V N S Anudeep

Sub-article Skewness & Kurtosis and its application

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by Khushbu Mehta

Quant Guru – Hawking(1942-2018)

Stephen

William

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by Dropad Saxena

Quant Curiosity Update

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by Kapil Gupta

News Digest

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by Akshay Nagpal

Quant Fun

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by Niki Gandhi

Quantinuum Event Update

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Quant Connect

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Quant Cover Story Play Smart and Earn a Lot – Mutual Funds In April 2017 SEBI released a survey about savings preferences in India and expectantly more than 95% of the families prefer to park their money in bank deposits. The survey, conducted across urban and rural areas of the country, showed that life insurance was second most preferred investment vehicle, followed by precious metals, post office savings and real estate in the top-five. The positive side of the survey is that out of the respondents at least 75% have tried their hand at investment securities or securities for the first time in last one to two years The reasons cited for people not investing comes down to the following 1. Fear of number crunching – Lot of people think that they are bad with numbers and hence prefer not to invest in it.

2. Fear of being cheated – Human beings don’t like to be taken advantage of in any given scenario. This is a concern for new investors and thus prefer to stay away from these things. It is true that companies and individuals that exploit on this factor but if armed with fundamentals of investing, these risks can be minimized easily.

3. Fear of losing money – In case of hard earned money people want it to be safer now than sorry later. It is totally understandable that this is the reason why people prefer to hold it rather than invest it. If observed from another angle it makes us realize the reason to invest it. For ex: a simple case of movie ticket costed Rs.40-50 few years ago is currently faring around Rs.150-200 which is nothing but the inflation. If the money is deposited in a bank and the interest accrued through fixed deposits would not have been higher than inflation rate. This suggests a decrease in value of money and thus purchasing power over a period of time The only need to be a successful mutual fund investor is a practical and pragmatic approach. If past 20 years’ data is considered the returns on equity is roughly around 11% [2] in major instances, (based on average of one year rolling, market risk & investment strategy-long term/short term etc.) which is much higher than any bank fixed deposit and in the longer run beats inflation. Thus “mutual funds” is a very lucrative option to invest into. The following aspects aim to clear the air about these fears and aims at making everybody successful investors.

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1. Fund manager and team: The portfolio (combined securities and assets the mutual fund house owns is known as portfolio) is managed by a qualified investment professional, the Fund manager. The Fund manager along with investment/research team who are qualified professionals that keep track of market and take investment decisions wisely. It is important to remember that fund managers are experienced and there is to outperform the benchmarked index of the fund (a certain return in % against which the fund manager’s performance is rated). Thus we can address the fear of number crunching as professional team manages the money.

2. Net asset value: Each investor is issued certain units based on the quantum of money invested in the mutual funds. The value of the units held fluctuates with respect to the underlying value of it. This value of each unit is represented by the Net Asset Value (NAV) of the fund. All Asset management companies (AMC’S) discloses NAV by 9:00 Pm on all business days and thus one can verify NAV increase/decrease by end of the day.

3. Understanding Risk Vs Returns The risks like market risk, price risk, default risk, interest risk etc. are various types of risks the fund manager comes across while handling a portfolio. There are various measures that measure these risks. Let us get acquainted with few of them Risk: Standard Deviation (S.D) The standard deviation talks about the variation of the data with respect to the mean return in other words it talks about how much fund return can deviate from the historical mean return. Thus more the number more the variation and thus funds with lesser S.D and higher return are preferred.

Risk-adjusted return: Sharpe Ratio It signifies the ratio of returns of the fund to risk associated with the fund. Higher the sharpe ratio better the funds’ performance. This ratio is important in deciding whether high returns is higher risk adjusted value delivered or is it a return but risky affair.

Alpha The excess return generated by the fund above the market benchmarked index is called alpha. These risk return parameters of a fund are declared on monthly basis by the fund house in their Factsheet. You can again check these number on various mutual fund research websites. Since all the calculations are done by the experienced individuals, your job is to understand those concepts well.

Furthermore, parameters like Beta, R squared value also help in understanding the risks and returns associated with the funds.

4. What is star fund rating / ranking??

Often it is noticed that while an investor makes an attempt to understand the fund, various sites over internet publish star rating and ranking. Over the years it has taken high popularity and it is assumed that higher the star rating, better is the investment avenue. Actually many of these ratings/rankings are based on just NAV performance alone.

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What does this mean? Well it could mean that over a long period of time the NAV of the fund has increased but it might have higher risks associated in short term investments. The return to risk ratios is a very crucial factor to judge whether the investment is good or bad.

5. Investment philosophy After assessing the mutual fund manager and risk parameters care should be taken whether the investment process and systems are laid out well by the respective mutual fund house. The investing philosophy plays a critical role in the investing strategy whether to opt an equity or debt. For ex: If the philosophy is to capital appreciation with a long term investment plan and thus a bit of short term risk is acceptable then one should be looking at equity oriented funds.

Conclusion: Though investing in mutual funds is complicated, it can be mastered with good understanding and knowledge about the terms and process. The same requires effort and dedication. It is more about understanding the scenario and make a pragmatic informed decision making.

Source: [1] https://www.forbes.com/free_forbes/2003/1208/192.html [2]https://m.rediff.com/amp/getahead/report/money-what-reasonable-return-should-you-expect-from-equitymfs/20170120.htm [3]https://www.investopedia.com/terms/m/mutualfund.asp [4]https://www.google.co.in/amp/s/www.stableinvestor.com/2017/09/mutual-fund-sip-returns.html/amp [5]http://www.morningstar.in/posts/39468/math.aspx [6]https://www.google.co.in/amp/s/www.bankrate.com/finance/investing/right-brain-investing.aspx/amp/

By VVNS Anudeep PG-IB (2017-19)

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Sub Article Skewness & Kurtosis - Its application Kurtosis describes the shape of the tail of distribution in relation to its overall shape.

Skewness is the third “moment” of a return distribution and kurtosis is the fourth moment of the return distribution, also mean and the variance being the first and second moments, respectively. Ideally, all four moments or characteristics of a return distribution of an investment should be considered by the investor. When returns fall outside of a normal distribution, the distribution exhibits skewness or kurtosis.

Skewness: Skewness measures the degree of asymmetry of a distribution around its mean. Positive skewness tells us that asymmetric tail distribution is extending toward more positive values while negative skewness tells us that asymmetric tail distribution extending toward more negative values.

For univariate data Y1, Y2, ..., YN, the formula for skewness is: g1=∑Ni=1(Yi−Y¯)3/N s3 where Y¯ is the mean, s is the standard deviation, and N is the number of data points. Note that in computing the skewness, the s is computed with N in the denominator rather than N - 1.It should be noted that there are alternative definitions of skewness in the literature. For example, the Galton skewness (also known as Bowley's skewness) is defined as Galton skewness=Q1+Q3−2Q2 Q3−Q1 where Q1 is the lower quartile, Q3 is the upper quartile, and Q2 is the median.

The Pearson 2 skewness coefficient is defined as Sk2=3(Y¯−Y~)/s where Y~ is the sample median.

Kurtosis: Kurtosis measures the degree to which a distribution is more or less peaked than a normal distribution.

Positive kurtosis shows a relatively peaked distribution. Negative kurtosis shows a relatively flat distribution.

Kurtosis of a normal distribution is 3.

Kurtosis that can be displayed by a set of data can be divided in three categories.

The first category is a mesokurtic distribution. This type is most similar to a standard normal distribution (it also resembles a bell curve). However, a distribution which is mesokurtic has fatter tails and a slightly lower peak than a standard normal distribution. This type of kurtosis is considered normally distributed but is not a standard normal distribution. The second is a leptokurtic distribution.

Leptokurtic displays greater kurtosis than a mesokurtic distribution. This type of distribution is one with extremely thick tails and a very tall and thin peak. As the prefix "lepto-" means "skinny," thus making the shape of a leptokurtic distribution easier to remember. For e.g. T-distributions are leptokurtic.

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The last category of distribution is a platykurtic distribution. This type of distribution have slender tails and a peak that's smaller than a mesokurtic distribution. As the prefix of "platy-" means "broad," and it is meant to describe a short and broad-looking peak. Platykurtic displays smaller kurtosis than a mesokurtic distribution. For e.g. Uniform distributions are platykurtic.

Normal distribution has a kurtosis co-efficient of 3. When a distributions kurtosis coefficient is less than 3, that distribution is platykurtic, and when it's more than 3, it is leptokurtic.

Kurtosis is the ratio of (1) the fourth moment and (2) the square of second moment:

The fourth moment about the mean is the sum of deviation of each value from the mean to the power of 4, which is then divided by the number of values:

The second moment about the mean is the sum of square of deviation of each value from the mean, divided by the number of values:

It is the same formula as the one know as variance (Ďƒ2): Leptokurtosis has an impact on how analysts estimate value at risk (VaR). Value at risk (VaR) is a technique which helps to measure and quantify the level of financial risk within a firm or investment portfolio in a specific time frame. This metric is most commonly used by investment and commercial banks since it helps to determine the extent and occurrence ratio of potential losses in their institutional portfolios.

If an investor uses a normal distribution to estimate VaR, he/she might overestimate at high levels of significance if the return distribution is leptokurtic. This is the because of the nature of leptokurtic distribution. The fat tail means risk is coming from outlier events and occurrence of those extreme observations are more likely to happen.

Therefore, conservative investors should avoid this type of return distribution. Platykurtic distributions produce less extreme outliers as compared to normal distribution. Investors should often consider asset returns’ kurtosis because the distribution of return values can provide an estimation of asset risk on potential investments.

Sources: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC370549 https://www.investopedia.com/terms/p/platykurtic.asp https://www.thoughtco.com/what-is-kurtosis-3126241 http://www.statisticshowto.com/probability-and-statistics/statistics-definitions/kurtosis-leptokurtic-platykurtic/ http://www.statisticshowto.com/what-is-a-moment/

By Khushbu Mehta MMS B (2017-19)

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QuantGuru Stephen William Hawking (1942-2018) Early Life and Education British physicist and mathematician Stephen William Hawking was born on January 8, 1942 in Oxford, England, UK. His father was Frank Hawking, an English biologist; his mother was Isobel Walker, a Scottish Philosophy, Politics and Economics graduate; both parents were graduates of the University of Oxford. His siblings include two younger sisters and an adopted brother.

Stephen Hawking was an average student at school, deeply interested in science. After winning a scholarship in Natural Sciences at age 17, he graduated at age 20 with a first-class honors degree in Physics from University College, Oxford.

After completing graduation, he did research at Trinity Hall, University of Cambridge for a PhD in Astronomy and Cosmology.

In his early days at Cambridge, at age 21, Hawking was diagnosed with Amyotrophic lateral sclerosis (ALS), a motor neuron disease in which the nerves controlling the muscles become inactive while the sensory nerves function normally.

At first his doctors expected him to die within two years. Because of his neuron disease he took about 40 hours to devise a 45 minute lecture.

Personal Life Stephen Hawking married Jane Wilde, a language student, in 1965, and they had three children: Lucy, Robert and Tim. The couple separated in 1991. From 2009 Hawking was almost completely paralyzed. Stephen Hawking died on March 14, 2018 at the age of 76, at his home in Cambridge, UK.

Contributions and Achievements Hawking was known for bringing about a limited union between two very different fields: Albert Einstein’s general theory of relativity and quantum theory.

At one time it was thought that absolutely nothing could escape from a black hole. Hawking’s equations produced an amazing result – that over time black holes can lose energy – now known as Hawking radiation – hence they can shrink and ‘evaporate,’ disappearing from the universe.

Georges Lemaitre believed the universe hatched from a ‘cosmic egg’ whose radius was similar to the earth-sun distance.

In 1970, Stephen showed then the universe must have grown from a point of infinite density (known as a singularity) if a Big Bang had happened and general relativity were true, In 1982, he was awarded the CBE award and also became a Companion of Honor in 1989. He received numerous awards and medals, including becoming a Fellow of The Royal Society and a Member of the US National Academy of Sciences.

He was honored with the Presidential Medal of Freedom in 2009.

Stephen Hawking was the University of Cambridge’s Lucasian Professor of Mathematics from 1979-2009, a position once held by Sir Isaac Newton.

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Hawking made use of an adaptive communication system including a speech synthesizer known as the Equalizer to combat ALS to author books, scientific papers, and lectures, and was capable of communicating at the modest rate of about 15 words per minute.

Sources: http://www.notablebiographies.com/Gi-He/Hawking-Stephen.html https://www.biographyonline.net/scientists/stephen-hawking.html https://www.space.com/15923-stephen-hawking.html https://en.wikipedia.org/wiki/Stephen_Hawking

By Dropad Saxena PGDM (2017-19)

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Quant Curiosity Update NASA Photos from Mars Curiosity Rover Reveal Red Planet is also Green and Purple NASA's long-lived Mars Rover Opportunity has just achieved one more milestone of spending 5000 days on the Red planet.

The Opportunity Rover built by NASA, touched down on Mars in January 2004. The mission was just to spend 90 Martian days (Each Martian day, longer than that of earth by 40 minutes, is called sol).

Opportunity landed on Mars a few weeks after its twin, Spirit Rover, which also set out on a 90-sol mission. Both rovers looked for signs of past water activity on the Red Planet and both found such evidence in large quantities. Spirit, for example, found what appears to be an ancient hydrothermal system, where hot water flowed and bubbled through rock.

In its World record driving streak, Opportunity also completed 28.02 Miles (45.1 km). The rover has beamed about 225,000 images to Earth during its time on the Red Planet, as well.

Source: http://www.newsweek.com/nasa-photos-mars-curiosity-rover-reveals-red-planet-also-green-and-purple-699184

InSight Lander: Probing the Martian Interior InSight is the next NASA lander scheduled to head to Mars. It will be a stationary mission, not like NASA's famous Opportunity, Spirit and Curiosity rovers,. Staying in place is necessary for its major science goals, which include learning more about the Martian composition, and how tectonically active Mars is. The mission will also be notable for its CubeSats, which will be the first time such tiny spacecraft fly beyond Earth.

InSight is expected to launch sometime between May 5 and June 8, 2018, from Vandenberg Air Force Base in California, on an Atlas V vehicle from United Launch Alliance. If successful, the mission will land on Nov. 26, 2018, at the Martian Elysium Planitia, an equatorial zone just south of an ancient volcanic area. InSight will send back data about the Red Planet's interior for about 1 Mars year, or 728 Earth-days (a little more than two Earth years).

Source: https://www.space.com/40067-mars-insight-lander.html

By Kapil Gupta PGDM (2017-19)

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Quant News Digest UK’s Home office funds artificial intelligence software that can target ISIS videos In a bid to weed out extremist and propagandizing videos circulated across the internet by Islamic State of Iraq and Syria (ISIS), the Home Office of the UK government has funded an artificial intelligence software that aims at eliminating such content at its source. The machine learning software was developed by London-based Company, ASI Data Science with a funding of £600,000 from the Home Office. Dr. Marc Warner, chief executive of ASI Data Science, told a newspaper, “We hope that this can play its part in removing extremist content from the web.” Over 1300 videos circulated since 2014 by the terror group’s central media office were scrutinized by ASI. It discovered ‘subtle signals’ that can help discern new videos

by ISIS before publication. The advanced machine learning system uses markers that are particularly meant for ISIS content in order avoid problems faced by platforms like YouTube due to their generalized approach.

Gaurav Kumar takes charge as chief operating officer at The Smart Cube In a recent development, The Smart Cube, an award-winning global provider of research and analytics solutions, announced the appointment of Gaurav Kumar as it new Chief Operating Officer. Kumar, who first joined the company as Research Analyst in 2005 will lead the company’s operation as a part of his new role.

Since his initial days at The Smart Cube, Kumar has worked his way up to Associate Vice President, before joining Fidelity Investments in 2012 to bolster its analytics and market intelligence function. In 2015, he was selected to join Fidelity’s elite GMA Leadership Program, involving four rotations across global operations. After completion, Gaurav was appointed to the position of Director of Digitization, which focused on leveraging analytics and technology to enhance customer experience.

Dubai gets the world’s first driverless taxis on road A development that came at the recently held World Government Summit, Dubai’s Roads and Transport Authority (RTA) has launched the first on-road tests of the world’s first autonomous pods, that has been developed in co-operation with next future transportation. Designed to travel short to medium distances in lanes dedicated to these pods, they can be coupled together with other pods or ‘modules’, in as little as 15 seconds, and can also be detached with an equal ease. Each of these modules can fit 6 people sitting and 4 people standing, also allowing to walk freely in the coupled modules.

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Altered Carbon-Style AI Surveillance system already in use in China says AI Expert The new sci-fi series from Netflix, Altered Carbon, has slapped us with a high concept technology that induces both wonderment and bewilderment. One of the ideas explored in this neo-noir dystopian sci-fi series is the concept of surveillance and punishment using technology. According to an expert, China is already working on a system that mirrors the show. It is reported that Chris Middleton, an expert in the field of artificial intelligence and robotics, claims that China is well on its way to making the show’s idea a reality. Middleton said that the government is combining technologies such as AI, facial recognition and the mandatory social ratings system to monitor, check and penalize ‘undesirable’ conduct of its citizens.

Middleton’s statement comes at a time when the Chinese government has been rolling out one surveillance method after another to monitor its citizens and pull up undesirable elements.

India’s first AI-based electric scooter launched at Auto Expo 2018 Twenty Two Motors launched it smart electric scooter, Flow, equipped with AI and cloud capabilities at the Auto Expo 2018 being held at Greater Noida and New Delhi. Vijay Chandraat, COO and cofounder said at the launch, “We are the only company in the world to provide matchless features such as state-of-art sensors, smart features, lithium ion storage, and Internet of Things. The Flow is the most convenient way to travel, providing ample range for daily travel. To start with, we plan to sell over 2,00,000 units in the first 36 months of the launch.” The vehicle is priced at ₹74,740. With an investment of about $70 million, the company intends manufacture 50,000 vehicles a year over the next two-and-a-half years at its upcoming state-of-the-art manufacturing unit at Bhiwadi, Haryana. Last year, the Gurugram-based company raised $1.6 million in pre-Series A funding.

AI in India gets another boost, special committee formed to create road map In an endeavor to be not left behind in the artificial intelligence race, the Indian government has formed a committee headed by the National Institution for Transforming India (NITI) Aayog Vice Chairman, Rajiv Kumar to lay out a roadmap for the country’s research and development in the field. Reportedly, the decision to form the committee came after news of China’s intense and growing commitment in the field of AI. China had laid out a road map last year to make sure that they become the leading superpower in artificial intelligence by 2030. China is also racing ahead of US in the field of scientific research. It is ranked number one for most-cited research papers, and is a global leader in super computers.

Source: http://analyticsindiamag.com/

By Akshay Nagpal PGDM (2017-19) 13

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Quant Fun Puzzles: 1. Next number in series 1, 11, 21, 1211, 111221?

2. IF 3+5+6=151872 5+5+6=253094 5+6+7=303585 5+5+3=251573 then 9+4+7=??????

3. There are three ants on a triangle, one at each corner. At a given moment in time, they all set off for a different corner at random. What is the probability that they don’t collide?

4. A man has two cubes on his desk. Every day he arranges both cubes so that the front faces show the current day of the month. What numbers are on the faces of the cubes to allow this?

5. Two MIT math grads bump into each other at Fairway on the upper west side. They haven’t seen each other in over 20 years.

The first grad says to the second: “How have you been?”

Second: “Great! I got married and I have three daughters now” First: “Really? How old are they?”

Second: “Well, the product of their ages is 72, and the sum of their ages is the same as the number on that building over there...”

First: “Right, ok... Oh wait... Hmm, I still don’t know” Second: “Oh sorry, the oldest one just started to play the piano” First: “Wonderful! My oldest is the same age!”

How old are the daughters?

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Quant Fun Solution Answer 1: 13112221 Answer 2: 366329 Answer 3: Let the three ants are a, b, c.

There are two cases when they will not collide, the one is when they all move clockwise and the other is when they all move anticlockwise.

They will collide if any two ants move towards each other, at the same time the third ant can move in clockwise or in anticlockwise. so for each pair there are 2 such cases. And there are 3 pairs possible (a,b), (b,c) and (c,a). So total 3*2 = 6 cases when they will collide.

So probability that they will not collide is 2/(2+6) i.e. 1/4 Answer 4: We have two cubes that means 12 faces or 12 numbers one on each face. The all possible dates are 1 to 31, that includes 11 and 22. So 1 and 2 should be there on both cubes. It means we need 12 digits (0-9 and 1, 2). Now if we see the distribution of numbers on each faces, we have 1 and 2 on both cubes. For 30 we need 0 and 3 on different cubes. So let’s say, first cube has 1, 2, 3, 4, 5, 6 and other one has 0, 1, 2, 7, 8, 9. It looks fine, but we notice, the man uses both the cubes for each day, so how do we show 07, 08, 09??

So that means we need to have 0 on both the cubes, but that makes it 13, but there are only 12 faces. That’s the trick in this question, we can place cubes upside down too, now which is the number we can use both the ways, yes its 6, it can be used as 9 and then we can have all the possible dates.

So first cube: 0, 1, 2, 3, 4, 5 Second cube: 0, 1, 2, 6, 7, 8 Answer 5: We know that there are 3 daughters whose ages multiply to 72. Let’s look at the possibilities…

Ages: Sum of ages: 1 1 72 74 1 2 36 39 1 3 24 28 1 4 18 23 1 6 12 19 189 18 2 2 18 22 2 3 12 17 249 15 266 14 338 14 346 13 After looking at the building number the second man still can’t figure out what their ages are, so that means that the sum of the ages (or building number) must be 14, since that is the only sum that has more than one possibility. Finally the man discovers that there is an oldest daughter. That rules out the “2 6 6” possibility since the two oldest would be twins. Therefore, the daughters ages must be “3 3 8”.

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Quantinuum Event Update Quantinuum Annual Day (QAD) –The Annual Analytics Fest at SIMSR This year Quantinuum committee at KJSIMSR-The official Quants and Analytics committee successfully completed its journey of 9 years and is still thriving and flourishing to accomplish greater heights of success.

To celebrate Quants Annual Day- Q.A.D, 2017, team Quantinuum organized various events this year, starting with a Lecture cum Workshop on the topic Data Analysis and Data Management. The 2 day event held on 19th-20th January and was facilitated by Mr. Mohammed Madani. He has about 12+years of experience in Data Warehousing, Data Analysis, Financial Reporting, and Process Simplification/automation (Including the identification of Non Value Added steps/services).

Then we had Quantambola is the annual intra-college Tambola also called Housie game of SIMSR which is played using Quant and other general knowledge questions to strike out the numbers. This basically tests numerical and logical reasoning abilities and other general knowledge.

Also conducted an insightful guest lecture on Business Scenarios in optimization of SCM as a part of Quantinuum Annual Day (QAD) event. Held on 1st February, this lecture served a useful purpose of providing information to students, who are in the midst of summers and final placements season and are actively seeking knowledge of various career trajectories. The speaker, Mr. Parag Dani, is a highly qualified and experienced professional in the field of Supply Chain Management. He is an alumnus of K.J.SIMSR and is currently working as a DGM in the Aditya Birla Group. He is an experienced professional in Program Management, Solution Architecture in Supply Chain, Digital and Analytics.

Quant Performer of the year 2016-17 was awarded to one who have scored well in Quantitative courses (Operations Research, Business Statistics and Business Research) on the day of QAD. Quantathlon is one of the biggest Quant and Analytics competition organized by Quantinuum. Participation was in the team of two. There were two online rounds and one offline round. The first two rounds were cumulative rounds i.e. the scores were added and accordingly elimination was done. It was mix of crosswords, quants and logical questions and analytics language based (R, Excel, etc.). The offline round had many amazing competitions. It was a fun event with certificates handed over for participation and amazing amount prizes to winners.

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Q U R I O S I T Y - V O L - 9, E D I T I O N – 2

February 2018 Quantinuum, the Quant and Analytics committee of KJ Somaiya Institute of Management Studies and Research aims to empower students and professionals alike to organize and understand numbers and, in turn, to make good and rational decisions as future managers. The newsletter published monthly consists of a gamut of articles for readers ranging from beginners to advanced learners so as to further enrich the young minds understand the contributions made to the field of mathematics along with a couple of brainracking sections of Sudoku to tickle the gray cells.

For any further queries and feedback, please contact the following address: KJ Somaiya Institute of Management Studies and Research, Vidya Nagar, VidyaVihar, Ghatkopar East, Mumbai -400077 or drop us a mail @ newsletter.quantinuum@gmail.com Mentor: Prof. N.S.Nilakantan (+919820680741) Email – nilakantan@somaiya.edu Team Leaders: Purav Shah (+917708521382) VVNS Anudeep (+919441201685) Yatharth Jaiswal (+919969698361)

Editorial Team: VVNS Anudeep (+919441201685) Khushbu Mehta (+919930158610) Kapil Gupta (+917727936906) Aditya Sharma (+918302525599) Samoshri Mitra (+918697440265) Dropad Saxena (+919582337930) Akshay Nagpal (+918800114925)

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