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    The Quants: The Maths Geniuses Who Brought Down Wall Street (Paperback) By (author) Scott Patterson

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    DescriptionYou're a genius. Nobody plays the financial markets better than you. What could possibly go wrong? Quants - quantitative analysts - were the maths masterminds let loose on Wall Street in the belief that their brilliant, impregnable computer programs would always beat the market. But as the catastrophic events of 2007 and 2008 showed, their seemingly failproof methods were little more than ticking timebombs. Inspired by the 'Godfather of Quants' - maths-professor-turned-gambler Ed Thorp, who began applying skills learned at the Vegas tables to the financial markets back in the 1950s - the quants achieved extraordinary success and massive wealth. This book charts their rise from obscurity to boom and then to bust, explaining why they were so confident - and how they got it so disastrously wrong.


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  • Full bibliographic data for The Quants

    Title
    The Quants
    Subtitle
    The Maths Geniuses Who Brought Down Wall Street
    Authors and contributors
    By (author) Scott Patterson
    Physical properties
    Format: Paperback
    Number of pages: 352
    Width: 129 mm
    Height: 198 mm
    Thickness: 22 mm
    Weight: 288 g
    Language
    English
    ISBN
    ISBN 13: 9781847940599
    ISBN 10: 1847940595
    Classifications

    Warengruppen-Systematik des deutschen Buchhandels: 27820
    BIC geographical qualifier V2: 1KBB
    BIC E4L: FIN
    BIC subject category V2: KC
    Nielsen BookScan Product Class 3: S4.9
    BIC subject category V2: KFFM
    Ingram Subject Code: BE
    BISAC V2.8: BUS036000
    BIC subject category V2: 1KBB
    DC22: 332.64092273
    DC23: 332.64092273
    Thema V1.0: KFFM
    Publisher
    Cornerstone
    Imprint name
    RANDOM HOUSE BUSINESS BOOKS
    Publication date
    07 April 2011
    Publication City/Country
    London
    Author Information
    Scott Patterson worked for several years as a financial reporter at the Wall Street Journal. He lives in New York.
    Review quote
    "Mr Patterson is onto a big story that already begs follow-up" New York Times "... a riveting account" Financial Times "The Quants ... radiates with hubris, high stakes and pricey toys" Business Week "[an] intriguing history of the Quants...[Patterson] explains how hedge funds combined techniques of arbitrage and hedging using complex computer-driven models (one was named Midas) to reduce the risk of making losing bets" -- Stephen Fay TLS "Patterson paints a clear picture of the history and evolution of quantitative trading on Wall Street, before shifting focus to the 'crisis before the crisis' in which a number of quant funds almost collapsed in 2007...definitely worth reading for an in depth analysis of one of the points in recent financial history where things may have started to go awry" Insider
    Back cover copy
    You’re a genius. Nobody plays the financial markets better than you. What could possibly go wrong? Quants – quantitative analysts – were the maths masterminds let loose on Wall Street in the belief that their brilliant, impregnable computer programs would always beat the market. But as the catastrophic events of 2007 and 2008 showed, their seemingly failproof methods were little more than ticking timebombs. Inspired by the ‘Godfather of Quants’ – maths-professor-turned-gambler Ed Thorp, who began applying skills learned at the Vegas tables to the financial markets back in the 1950s – the Quants achieved extraordinary success and massive wealth. This book charts their rise from obscurity to boom and then to bust, explaining why they were so confident – and how they got it so disastrously wrong.