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    The Quants: How a Small Band of Maths Wizards Took Over Wall Street and Nearly Destroyed it (Paperback) By (author) Scott Patterson

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    DescriptionHow would you feel if you outperformed the market, year after year? Would you become convinced that the good times were here to stay, that nothing could possibly go wrong? And how would you then feel if everything suddenly collapsed around you? Quants - quantitative analysts - were the maths geniuses let loose in Wall Street's candy store, and this gripping narrative of talent and ambition follows their dizzying rise from the bottom of the Street's pecking order to its pinnacle. Their ascent was predicated on the belief that they had invented - and were fine-tuning - brilliant and impregnable computer programs that would always beat the market. Unfortunately, as the events of 2007 and 2008 showed all too clearly, these programs turned out to be ticking time bombs. The story actually begins in the early 1960s, when a successful maths-professor-turned-gambler named Ed Thorp realised that skills learned at the Vegas tables could also be applied to the financial markets. He soon acquired followers and imitators who, over the next few decades, assumed positions of ever-greater power and influence. Clever, eccentric, often larger than life, they achieved extraordinary success and massive wealth. "The Quants" follows them from obscurity to boom and then to bust, explaining why they were so self-confident, and how they got it so disastrously wrong.


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  • Full bibliographic data for The Quants

    Title
    The Quants
    Subtitle
    How a Small Band of Maths Wizards Took Over Wall Street and Nearly Destroyed it
    Authors and contributors
    By (author) Scott Patterson
    Physical properties
    Format: Paperback
    Number of pages: 352
    Width: 153 mm
    Height: 233 mm
    Thickness: 25 mm
    Weight: 470 g
    Language
    English
    ISBN
    ISBN 13: 9781847940582
    ISBN 10: 1847940587
    Classifications

    Warengruppen-Systematik des deutschen Buchhandels: 17820
    BIC geographical qualifier V2: 1KBB
    BIC E4L: FIN
    Nielsen BookScan Product Class 3: S4.9
    BIC subject category V2: KFFM
    BISAC V2.8: BUS036000
    BIC subject category V2: 1KBB
    DC22: 332.64092273
    Publisher
    Cornerstone
    Imprint name
    RANDOM HOUSE BUSINESS BOOKS
    Publication date
    03 June 2010
    Publication City/Country
    London
    Author Information
    Scott Patterson is a staff reporter at The Wall Street Journal. He writes a daily financial column 'Ahead of the Tape', which appears on the front page of the Money & Investing section of the newspaper and is widely regarded as a must-read.
    Review quote
    "Beware of geeks bearing formulas" Warren Buffett