MY LIFE AS A QUANT

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My Life As A Quant

Author : Emanuel Derman
ISBN : 9781118428887
Genre : Business & Economics
File Size : 29.26 MB
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In My Life as a Quant, Emanuel Derman relives his exciting journey as one of the first high-energy particle physicists to migrate to Wall Street. Page by page, Derman details his adventures in this field—analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. Throughout this tale, he also reflects on the appropriate way to apply the refined methods of physics to the hurly-burly world of markets.
Category: Business & Economics

The Meritocracy Trap

Author : Daniel Markovits
ISBN : 9780735222007
Genre : Social Science
File Size : 36.25 MB
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A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
Category: Social Science

Ben Graham Was A Quant

Author : Steven P. Greiner
ISBN : 9780470642078
Genre : Business & Economics
File Size : 51.35 MB
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Innovative insights on creating models that will help you become a disciplined intelligent investor The pioneer of value investing, Benjamin Graham, believed in a philosophy that continues to be followed by some of today's most successful investors, such as Warren Buffett. Part of this philosophy includes adhering to your stock selection process come "hell or high water" which, in his view, was one of the most important aspects of investing. So, if a quant designs and implements mathematical models for predicting stock or market movements, what better way to remain objective, then to invest using algorithms or the quantitative method? This is exactly what Ben Graham Was a Quant will show you how to do. Opening with a brief history of quantitative investing, this book quickly moves on to focus on the fundamental and financial factors used in selecting "Graham" stocks, demonstrate how to test these factors, and discuss how to combine them into a quantitative model. Reveals how to create custom screens based on Ben Graham's methods for security selection Addresses what it takes to find those factors most influential in forecasting stock returns Explores how to design models based on other styles and international strategies If you want to become a better investor, you need solid insights and the proper guidance. With Ben Graham Was a Quant, you'll receive this and much more, as you learn how to create quantitative models that follow in the footsteps of Graham's value philosophy.
Category: Business & Economics

Models Behaving Badly

Author : Emanuel Derman
ISBN : 9781439165010
Genre : Science
File Size : 73.89 MB
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Now in paperback, “a compelling, accessible, and provocative piece of work that forces us to question many of our assumptions” (Gillian Tett, author of Fool’s Gold). Quants, physicists working on Wall Street as quantitative analysts, have been widely blamed for triggering financial crises with their complex mathematical models. Their formulas were meant to allow Wall Street to prosper without risk. But in this penetrating insider’s look at the recent economic collapse, Emanuel Derman—former head quant at Goldman Sachs—explains the collision between mathematical modeling and economics and what makes financial models so dangerous. Though such models imitate the style of physics and employ the language of mathematics, theories in physics aim for a description of reality—but in finance, models can shoot only for a very limited approximation of reality. Derman uses his firsthand experience in financial theory and practice to explain the complicated tangles that have paralyzed the economy. Models.Behaving.Badly. exposes Wall Street’s love affair with models, and shows us why nobody will ever be able to write a model that can encapsulate human behavior.
Category: Science

From The Boiler Room To The Living Room

Author : Mitch Anthony
ISBN : 0470255099
Genre : Business & Economics
File Size : 29.59 MB
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Author Mitch Anthony has been recognized as the voice of conscience for the financial services industry. For more than a decade, he has shown advisors how building authentic, genuine relationships can serve clients' best interests and build heathly—and financially successful—practices at the same time. In From the Boiler Room to the Living Room, Mitch examines where the financial services industry has failed in the past, and what it needs to do to restore trust at both the individual and industry levels. He teaches readers how to better understand the emotional significance of the money that clients entrust to their advisors and the struggles they face as they attempt to get "more life for their money." The book also discusses why venture philosophy, funding single moments, and rethinking one's purpose in life is more important to clients than net worth or asset allocation. Finally, it discusses how to develop dialogues that forge meaningful, long-term client connections—in other words, how to stop selling and start listening.
Category: Business & Economics

Codes Of Finance

Author : Vincent Antonin Lépinay
ISBN : 9781400840465
Genre : Business & Economics
File Size : 45.2 MB
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The financial industry's invention of complex products such as credit default swaps and other derivatives has been widely blamed for triggering the global financial crisis of 2008. In Codes of Finance, Vincent Antonin Lépinay, a former employee of one of the world’s leading investment banks, takes readers behind the scenes of the equity derivatives business at the bank before the crisis, providing a detailed firsthand account of the creation, marketing, selling, accounting, and management of these financial instruments—and of how they ultimately created havoc inside and outside the bank.
Category: Business & Economics

Mary Quant

Author : Mary Quant
ISBN : 9780755363384
Genre : Biography & Autobiography
File Size : 69.34 MB
Format : PDF
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Mary Quant defined the 60s as a renowned fashion designer and all-round style icon, most famous for inventing the miniskirt and hot pants. Not afraid of novelty or experimentation, she showed a generation of women how to dress to please themselves. Quant's career was fulsome and varied - from opening up a clothes shop on the King's Road called Bazaar, designing the interior of the Mini (including her signature daisy), to her vast cosmetics company, Mary Quant Limited, she has widespread appeal to generations of women. In her autobiography, Mary combines the inspirational story of a stellar career with the touching personal story of her life with the man she loved, Alexander Plunkett-Green and her role of mother to their son, Orlando. Mary Quant gives us a glimpse of the real women behind the icon.
Category: Biography & Autobiography

A Lever Long Enough

Author : Robert McCaughey
ISBN : 9780231537520
Genre : History
File Size : 43.2 MB
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In this comprehensive social history of Columbia University's School of Engineering and Applied Science (SEAS), Robert McCaughey combines archival research with oral testimony and contemporary interviews to build a critical and celebratory portrait of one of the oldest engineering schools in the United States. McCaughey follows the evolving, occasionally rocky, and now integrated relationship between SEAS's engineers and the rest of the Columbia University student body, faculty, and administration. He also revisits the interaction between the SEAS staff and the inhabitants and institutions of the City of New York, where the school has resided since its founding in 1864. McCaughey compares the historical struggles and achievements of the school's engineers with their present-day battles and accomplishments, and he contrasts their teaching and research approaches with those of their peers at other free-standing and Ivy League engineering schools. What begins as a localized history of a school striving to define itself within a university known for its strengths in the humanities and the social sciences becomes a wider story of the transformation of the applied sciences into a critical component of American technology and education.
Category: History

The Halo Effect

Author : Phil Rosenzweig
ISBN : 9781847397027
Genre : Business & Economics
File Size : 44.87 MB
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Why do some companies prosper while others fail? Despite great amounts of research, many of the studies that claim to pin down the secret of success are based in pseudoscience. THE HALO EFFECT is the outcome of that pseudoscience, a myth that Philip Rosenzweig masterfully debunks in THE HALO EFFECT. THE HALO EFFECT highlights the tendency of experts to point to the high financial performance of a successful company and then spread its golden glow to all of the company's attributes - clear strategy, strong values, and brilliant leadership. But in fact, as Rosenzweig clearly illustrates, the experts are not just wrong, but deluded. Rosenzweig suggests a more accurate way to think about leading a company, a robust and clearheaded approach that can save any business from ultimate failure.
Category: Business & Economics