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The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It by Scott Patterson (2010, Abridged, Compact... | ||
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| Item condition: | Brand New | |
| Ended: | Mar 19, 201207:32:38 PDT | |
| Price: | US $20.71 | |
| Shipping: | $3.49 USPS Media Mail | |
| Item location: | Multiple Locations | |
| Seller: | ||
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Description
Seller assumes all responsibility for this listing.Item number: 342646667580
Portions of this page Copyright 1995 - 2012 Muze Inc. 
All rights reserved.Audiobook CD BRAND NEW 0739385062.
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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.
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. | ||||||||||||||||||||||||||
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