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Home > Business and Economics > Finance and accounting > Finance and the finance industry > Investment and securities > The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It

The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It


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About the Book

In March 2006, the world's richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with -million-dollar stakes. At the card table that night was Peter Muller, who managed a fabulously successful hedge fund called PDT. With him was Ken Griffin, who was the tough-as-nails head of Citadel Investment Group. There, too, were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR Capital Management, and Boaz Weinstein, chess "life master" and king of the credit-default swap. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants. Over the past twenty years, this species of math whiz had usurped the testosterone-fueled, kill-or-be-killed risk takers who'd long been the alpha males of the world's largest casino. The quants believed that a cocktail of differential calculus, quantum physics, and advanced geometry held the key to reaping riches from the financial markets. And they helped create a digitized money-trading machine that could shift -billions around the globe with the click of a mouse. Few realized that night, though, that in creating this extraordinary system, men like Muller, Griffin, Asness, and Weinstein had sown the seeds for history's greatest financial disaster.

Review :
"Scott Patterson has the ability to see things you and I don't notice. In" The Quants" he does an admirable job of debunking the myths of black box traders and provides a very entertaining narrative in the process." --Nassim Nicholas Taleb, New York Times bestselling author of" Fooled by Randomness" and" The Black Swan" "Fascinating and deeply disturbing...Patterson gives faces and personalities to the quants, making their saga accessible and intriguing...[he's] onto a big story that begs follow-up." --New York Times "Valuable...makes [the quants'] secretive world comprehensible...the story radiates with hubris, high stakes and expensive toys." --Bloomberg.com "A riveting account...there are many dramatic moments and a good dose of schadenfreude in Scott Patterson's THE QUA


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Product Details
  • ISBN-13: 9781415966532
  • Publisher: Random House Audio Publishing Group
  • Publisher Imprint: Random House Audio Publishing Group
  • Edition: Abridged edition
  • Returnable: N
  • ISBN-10: 1415966532
  • Publisher Date: 02 Feb 2010
  • Binding: Downloadable audio file
  • Language: English
  • Sub Title: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It


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