How I Became a Quant : Insights from 25 of Wall Street's Elite

by Lindsey, Richard R.; Schachter, Barry

• ISBN13: 9780470050620
• ISBN10: 0470050624
• Format: Hardcover
• Copyright: 2007-07-09
• Publisher: Wiley

Summary

Praise for How I Became a Quant "Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!" --Ira Kawaller, Kawaller & Co. and the Kawaller Fund "A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions." --David A. Krell, President and CEO, International Securities Exchange "How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis." --Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management "Quants"--those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements--are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk. How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.

Author Biography

Richard R. Lindsey, PhD, MBA, is President and CEO of the Callcott Group, LLC, a quantitative consulting firm. For eight years, he was president of Bear, Stearns Securities Corporation. Dr. Lindsey is also Chairman of the International Association of Financial Engineers. Prior to joining Bear Stearns, Dr. Lindsey was the director of market regulation for the U.S. Securities and Exchange Commission.?Before joining the SEC, he was a finance professor at Yale University in the School of Management. Dr. Lindsey has done extensive work in the areas of market micro-structure (the design and regulation of securities markets) and the pricing of derivative securities.

Barry Schachter, PhD, is Director of Quantitative Resources at Moore Capital Management. He is on the advisory board of the International Association of Financial Engineers and is cochair of its Education Committee. Schachter spent the early part of his career in academia, most of that time on the faculties at Simon Fraser University and Tulane University. He also founded and maintains GloriaMundi.org, a Web site for risk managers, and BelRanto.typepad.com, a Web log on risk and hedge funds.

Table of Contents

Acknowledgments

Introduction

Leinweber & Co

Global Head of Advanced Equity Strategies, Barclays Global Investors

Vice Chairman, Risk Metrics Group

Chairman, Upstream Technologies, LLC

President, Capital Market Risk Advisors

Chief Insurance Risk Officer, ING Group

Managing Director of Quantitative Strategies, SAC Capital Management, LLC

Head of Quantitative Financial research, Bloomberg

CEO, Hermes Pensions Management Ltd.; CEO, British Telecommunications Pension Scheme

Senior Quant, Bloomberg L.P

Peter J?ckel

President, Andrew Davidson & Co., Inc

Managing Director, Merrill Lynch

Managing and Founding Principal, AQR Capital Management, LLC

Managing Partner, Diversified Credit Investments

Head Risk Management & Quantitative Research, Permal Group

Deputy Director, Masters Program in Mathematics in Finance, Courant Institute of Mathematical Sciences, New York University

President and CEO, Windham Capital Management, LLC

Principals, Jacobs Levy Equity Management

Chairman, SBCC

Head of Risk Management, Clinton Group

Senior Advisor, Morgan Stanley

President, AJ Sterge (a division of Magnetar Financial, LLC)

Senior Principal of Marshall, Tucker & Associates, LLC and Vice Chairman of the International Securities Exchange

Notes

Bibliography

About the Contributors

About the Authors

Index

Table of Contents provided by Publisher. All Rights Reserved.