Book Description
Firsthand accounts from the people who were swept into, and then helped fashion, today's "quant-driven," dynamic world of finance
Quants are the backbone of today's investment industry. Their mathematical models are now the basis for most financial market innovations, such as exotic derivatives, structured investment products, quantitative trading strategies, and portfolio selection. Their spectacular successes and failures have become part of market folklore. But what they do, and how they do it, is often as opaque and hard to understand as the formulas they create. In How I Became a Quant, more than two dozen quants tell their war stories and detail the unexpected paths they have followed from the halls of academia to Wall Street, revealing the faces behind the quant revolution.
Richard R. Lindsey, PhD, MBA (New York, NY) is President of Bear, Stearns Securities Corporation. He is chair of the executive board of the IAFE. Barry Schachter, PhD (New York, NY) is Director of Quantitative Resources at Moore Capital Management. He is on the advisory board of the IAFE.
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Praise for How I Became a Quant
"Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!"
----Ira Kawaller, Kawaller & Co. and the Kawaller Fund
"A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions."
----David A. Krell, President and CEO, International Securities Exchange
"How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis."
----Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management
"Quants"----those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements----are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk.
How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.
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