This shopping feature will continue to load items when the Enter key is pressed. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Page by page, Derman details his adventures in this field-analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Reading about these experiences has shown me some new dots that I can connect with the dots of historical accomplishments of late 20th century. Page by page, Derman details his adventures in this field—analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. Derman's life as quant: A story worth reading, Reviewed in the United Kingdom on 3 April 2014. Sorry, there was a problem saving your cookie preferences. 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. A great read providing a history of the field, with some gems of information about working as a quant and model development, Reviewed in the United Kingdom on 6 April 2015. Reviewed in the United Kingdom on 31 July 2012, I attended a couple of talks by Emanuel Derman at a conference last month, and thought they contained a lot of sense on the applicability of models, metaphor and theory to quantitative analysis in finance (a quant, it's explained on p3 of this book, is someone who performs this analysis). To this end, he describes how he and his colleagues (who included Fischer Black, one of the developers of the well-known Black-Scholes model) came up with a couple of useful financial models, and suggests some reasons for their success and popularity. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Derman's life as quant: A story worth reading, Reviewed in the United Kingdom on 3 April 2014. as "from the hardest of all sciences to the softest of the soft", and so his thoughts on what approaches and techniques could be expected to work in finance are valuable. Something went wrong. Entertaining, thoughtful, intelligent, informative and funny. Anyone with a serious interest in finance and everyone who simply wants to enjoy a good read. The transition he made has been described by Nassim Taleb (author of. ) That is why Emanuel Derman's memoirs are so compelling…Derman's wry humour and sense of irony are apparent throughout the book." After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. © 1996-2020, Amazon.com, Inc. or its affiliates. The transition he made has been described by Nassim Taleb (author of. ) Prime members enjoy fast & free shipping, unlimited streaming of movies and TV shows with Prime Video and many more exclusive benefits. Try to read this book, Reviewed in the United Kingdom on 17 February 2017. account used by offspring, have not had complaint. For details, please see the Terms & Conditions associated with these promotions. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. --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). There's a problem loading this menu at the moment. Nowadays, the fortunes of firms and the stability of markets often rest on mathematical models. For example, Derman had been working at Bell labs when Ritchie and Kernighan were developing the Unix operating system and the C compiler. The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution SHORTLISTED FOR THE FT & MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019, Flash Crash: A Trading Savant, a Global Manhunt and the Most Mysterious Market Crash in History, The Book of Why: The New Science of Cause and Effect, Billion Dollar Whale: the bestselling investigation into the financial fraud of the century, Systematic Trading: A unique new method for designing trading and investing systems, "...a literate and entertaining memoir of his [Derman's] two-stage career -- in physics and then financial engineering." E-mail after purchase. --This text refers to an alternate. Everyday low prices and free delivery on eligible orders. --This text refers to the, "...engaging..." Who should read this book? --This text refers to the, Emanuel Derman has a PhD in theoretical physics from Columbia University. --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." Reviewed in the United Kingdom on 16 July 2013, This is a must book for everybody and those that wants to know more about quants. I have just finished reading this book. Prime members enjoy fast & free shipping, unlimited streaming of movies and TV shows with Prime Video and many more exclusive benefits. Although derman himself has made significant contributions to finacial theory (BDT model, work on implied binomial trees and 'the smile'), his experiences are much more interesting because he has been a witness of work of some of great minds of 20th century. Please try again. To get the free app, enter your mobile phone number. Page by page, Derman details his adventures in this field - analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance. Derman, in the book, recounts his life experience starting from his postgraduate studies through his career as a quant to his return to academia. He is currently the Director of the Program in Financial Engineering at Columbia University, a columnist for Risk magazine, and a risk advisor to an investment management company. He is the author of numerous articles in elementary particle physics, computer science, and finance, and a coauthor of the widely used Black-Derman-Toy interest rate model and the Derman-Kani local volatility model. He writes very honestly, and it's interesting to hear that even the very able quants, such as Emanuel, still struggled with the same political issues within the organisation as many other quants/techies do - such as the more limited opportunities to become a partner or move into the more lucrative business side of the organisation, as opposed to being viewed as an operational resource. –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. Something went wrong. Sorry, there was a problem saving your cookie preferences. --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.