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The Quants: How a New Breed of Math Whizzes Conquered W 

The Quants: How a New Breed of Math Whizzes Conquered W
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Item condition:Brand New
Ended:Apr 10, 201218:49:43 PDT
Price:US $26.55
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Seller assumes all responsibility for this listing.Item number: 180772475906
Last updated on Feb 27, 2012 20:06:34 PST View all revisions

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Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See the seller’s ... Read moreabout the condition
  

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Synopsis
Wall Street Journal reporter Scott Patterson pulls back the curtain on the "Quants," a group of mathematical geniuses who have been using probability formulas and high-powered computers to consistently beat the stock market for decades. According to Patterson, the "Quants" phenomenon can be traced back to the mid-1960s, when math genius Ed Thorp, who is renowned in gambling circles for being the first person to demonstrate a reliable system for beating Blackjack by counting cards, turned his attention to Wall Street, and began applying his probability statistics to the market. Sure enough, Thorp found that he could produce guaranteed profits by investing in hedge funds, and his strategy was soon being copied by fellow math savants with bigger and better computers. By the 1980s, this exclusive group of genius investors was in charge of some of the largest firms and accounts in America, having accumulated billions of dollars with increasingly specialized investment systems. However, Patterson reveals that the "Quants" played an integral role in the recent collapse on Wall Street, as they failed to adequately calculate the extent of the market's reliance on exceptionally risky mortgages.

Key Details
Author:Scott Patterson
Language:English
Publisher:Random House
Format:Audio
ISBN-10:0739385062
ISBN-13:9780739385067

Additional Details
Narrated by:Mike Chamberlain
Edition Description:Abridged

Size
Thickness:1.2 in
Weight:5.6 oz

Publisher's Note
Documents the contributions of a team of young math geniuses who applied Vegas strategies to Wall Street and set in motion widespread market collapses.

Portions of this page Copyright 1995 - 2012 Muze Inc. All rights reserved.

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

by Scott Patterson

Estimated delivery 3-12 business days

Format Compact Disc

Condition Brand New

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.

Details

  • ISBN 0739385062
  • ISBN-13 9780739385067
  • Title The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
  • Author Scott Patterson
  • Format Compact Disc
  • Year 2010
  • Publisher Random House Audio
  • Dimensions5.1 in. x 1.1 in. x 6 in.

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