My Life as a Quant
Reflections on Physics and Finance
1. Auflage Dezember 2007
304 Seiten, Softcover
Sachbuch
Kurzbeschreibung
As investment firms increasingly rely on advanced quantitative financial models to generate profits, large "quant" departments staffed by former physicists, mathematicians, and computer scientists have become routine on Wall Street. Emanuel Derman, one of the first physicists to move to Wall Street, is its most well-known quant whose career path parallels the growth of quantitative modeling. My Life as a Quant traces his pilgrim's progress from ambitious academic scientist to managing director and head of the renowned Quantitative Strategies group at Goldman, Sachs & Co., one of the world's most elite investment firms. Derman reveals his experiences learning to adapt the methods of science to finance and working with some of the finest minds in the business, including Fischer Black (with whom he developed the widely used Black-Derman-Toy model of interest rates). He also recounts his adventures with other quants, traders, and other high fliers on Wall Street.
Praise for My Life as a Quant
"My Life as a Quant, by Emanuel Derman is, indeed, a perfect memoir, as Derman, a South African-born physicist turned financial engineer, is a perfect memoirist." --Grant's Interest Rate Observer
"That sense of being an intruder in outlaw territory lends an intriguing mood to Derman's My Life as a Quant, a literate and entertaining memoir."--BusinessWeek
"Derman's memoir of his transition from mathematical physicist to expert finance whiz at Goldman Sachs and Salomon Brothers reads like a novel, but tells a lot about brains applied to making money grow."--Paul A. Samuelson, MIT, Nobel Laureate in Economic Sciences, 1970
"Elegantly written by a gifted observer who was a pioneering member of the new profession of financial engineering? with an evident affection both for finance as a science and for the scientists who practice it. Derman's portrait of how the academics brought their new financial science to the world of business and his descriptions of the late and extraordinary genius Fischer Black who became his mentor, reveal a surprising humanity where it might be least expected."--Stephen Ross, Franco Modigliani Professor of Finance and Economics, Sloan School, MIT
" a deep and elegant exploration by a thinker who moved from the hardest of all sciences (physics) to the softest of the soft (finance). Derman is a different class of thinker? I know of no other book that bridges the two cultures."--Nassim Taleb, author of The Black Swan and Fooled by Randomness
Chapter 1. Elective Affinities.
Chapter 2. Dog Years.
Chapter 3. A Sort of Life.
Chapter 4. A Sentimental Education.
Chapter 5. The Mandarins.
Chapter 6. Knowledge of the Higher Worlds.
Chapter 7. In the Penal Colony.
Chapter 8. Stop-Time.
Chapter 9. Transformers.
Chapter 10. easy Travel to Other Planets.
Chapter 11. Force of Circumstance.
Chapter 12. AQ Severed Head.
Chapter 134. Civilization and Its Discontents.
Chapter 14. Laugher in the Dar.
Chapter 15. The Snows of Yesteryear.
Chapter 16. the Great Pretender.
Acknowledgements.
About the Author.
Index.
"That sense of being an intruder in outlaw territory lends an intriguing mood to Derman's My Life As a Quant, a literate and entertaining memoir." -Business Week
"engaging" --(CFO Europe, October 2005)
"Not only a delightful memoir, but one full of information, both about people and their enterprise. I never thought that I would be interested in quantitative financial analysis, but reading this book has been a fascinating education." -Jeremy Bernstein, author of Oppenheimer: Portrait of an Enigma
"This wonderful autobiography takes place in that special time when scientists discovered Wall Street and Wall Street discovered them. It is elegantly written by a gifted observer who was a pioneering member of the new profession of financial engineering, with an evident affection both for finance as a science and for the scientists who practice it. Derman's portrait of how the academics brought their new financial science to the world of business and forever changed it and, especially, his descriptions of the late and extraordinary genius Fischer Black who became his mentor, reveal a surprising humanity where it might be least expected. Who should read this book? Anyone with a serious interest in finance and everyone who simply wants to enjoy a good read."-Stephen Ross, Franco Modigliani Professor of Finance and Economics, Sloan School, MIT
