The Quants

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斯科特•帕特森

 《华尔街日报》资深记者,财经专栏撰稿人。在《华尔街日报》200万订户中,有40%认为他的专栏属于必读文章。

 这是作者的处女作。在书中,作者对华尔街新兴的主宰者宽客进行了前所未有的深入描述,其中既有宽客新锐中的佼佼者:穆勒、格里芬、阿斯内斯和魏因斯坦,又有隐士般的吉姆• 西蒙斯,史上最成功对冲基金的创始人阿伦•布朗,以及多位宽客中的异类。

出版者:Crown Business
作者:Scott Patterson
出品人:
页数:352
译者:
出版时间:2010-02-02
价格:USD 27.00
装帧:Hardcover
isbn号码:9780307453372
丛书系列:
图书标签:
  • 金融 
  • Quant 
  • finance 
  • 数学 
  • 投资 
  • 交易 
  • 次贷危机 
  • Finance 
  •  
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“Beware of geeks bearing formulas.”

--Warren Buffett

In March of 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, but those numbers meant nothing to them. They were accustomed to risking billions.

At the card table that night was Peter Muller, an eccentric, whip-smart whiz kid who’d studied theoretical mathematics at Princeton and now managed a fabulously successful hedge fund called PDT…when he wasn’t playing his keyboard for morning commuters on the New York subway. With him was Ken Griffin, who as an undergraduate trading convertible bonds out of his Harvard dorm room had outsmarted the Wall Street pros and made money in one of the worst bear markets of all time. Now he was the tough-as-nails head of Citadel Investment Group, one of the most powerful money machines on earth. There too were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR, a man as famous for his computer-smashing rages as for his brilliance, and Boaz Weinstein, chess life-master and king of the credit default swap, who while juggling $30 billion worth of positions for Deutsche Bank found time for frequent visits to Las Vegas with the famed MIT card-counting team.

On that night in 2006, these four men and their cohorts were the new kings of Wall Street. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants . Over the prior twenty years, this species of math whiz --technocrats who make billions not with gut calls or fundamental analysis but with formulas and high-speed computers-- had usurped the testosterone-fueled, kill-or-be-killed risk-takers who’d long been the alpha males the world’s largest casino. The quants believed that a dizzying, indecipherable-to-mere-mortals 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 unprecedented machine, men like Muller, Griffin, Asness and Weinstein had sowed the seeds for history’s greatest financial disaster.

Drawing on unprecedented access to these four number-crunching titans, The Quants tells the inside story of what they thought and felt in the days and weeks when they helplessly watched much of their net worth vaporize – and wondered just how their mind-bending formulas and genius-level IQ’s had led them so wrong, so fast. Had their years of success been dumb luck, fool’s gold, a good run that could come to an end on any given day? What if The Truth they sought -- the secret of the markets -- wasn’t knowable? Worse, what if there wasn’t any Truth?

In The Quants , Scott Patterson tells the story not just of these men, but of Jim Simons, the reclusive founder of the most successful hedge fund in history; Aaron Brown, the quant who used his math skills to humiliate Wall Street’s old guard at their trademark game of Liar’s Poker, and years later found himself with a front-row seat to the rapid emergence of mortgage-backed securities; and gadflies and dissenters such as Paul Wilmott, Nassim Taleb, and Benoit Mandelbrot.

With the immediacy of today’s NASDAQ close and the timeless power of a Greek tragedy, The Quants is at once a masterpiece of explanatory journalism, a gripping tale of ambition and hubris…and an ominous warning about Wall Street’s future.

具体描述

读后感

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宽客产生的最根本的原因在于科技进步,有了强大的电脑,我们有了数据库,再加上互联网带来的资源共享,以往没有的数据现在都有了。 人类的数学从欧几里得就有了很严格的体系,到了牛顿时代,数学的应用得到了空前的发展。 但是对于金融市场,数学的应用则...  

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假设胜率为99%,每次下注初始资本的1%,这个策略的破产风险是多少? 破产要连续输100次。 概率有多少?1%的100次方,小到可以被忽略。 小数点后有199个0,但199个0后仍是个1。 如果这个1所代表的事件发生了,对于使用这个策略的赌客来说就是100%,被踢出局了。 如果下注次...  

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顶级数学家计算机天才们在华尔街用数学加计算机预测股市变化大发横财的真实记录,虽然最后导致了08年金融危机,但是他们对数学的极致思考与应用达到了普通人无法企及的高度,真正的知识运用的典范。不过无可否认的是他们的掘金方式就是各种投机和各种金融衍生品,而忽视了市场...

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在众多的金融从业者眼中,quant是金融业中的异类,他们用数学和物理的方法,在充满人性弱点的市场中谋求超额收益。因为本科辅修数学的关系,也曾不系统的接触过些许量化世界的方法和编程技术,至今依旧记得量化课程公司里打印出来贴满墙面的模型和检验;这一次通过这本书,对于...  

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顶级数学家计算机天才们在华尔街用数学加计算机预测股市变化大发横财的真实记录,虽然最后导致了08年金融危机,但是他们对数学的极致思考与应用达到了普通人无法企及的高度,真正的知识运用的典范。不过无可否认的是他们的掘金方式就是各种投机和各种金融衍生品,而忽视了市场...

用户评价

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送给客户挺好的

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整理了量化的历史,有借鉴意义

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另一个方面的历史

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天下没有免费的午餐

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文笔和组织很赞,金融工程的大史略。

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