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The Quants: The maths geniuses who brought down Wall Street by [Patterson, Scott]
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The Quants: The maths geniuses who brought down Wall Street Kindle Edition

3.5 out of 5 stars 10 customer reviews

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Length: 354 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Review

"Mr Patterson is onto a big story that already begs follow-up" (New York Times)

"... a riveting account" (Financial Times)

"The Quants ... radiates with hubris, high stakes and pricey toys" (Business Week)

"[an] intriguing history of the Quants...[Patterson] explains how hedge funds combined techniques of arbitrage and hedging using complex computer-driven models (one was named Midas) to reduce the risk of making losing bets" (Stephen Fay TLS)

"Patterson paints a clear picture of the history and evolution of quantitative trading on Wall Street, before shifting focus to the 'crisis before the crisis' in which a number of quant funds almost collapsed in 2007...definitely worth reading for an in depth analysis of one of the points in recent financial history where things may have started to go awry" (Insider)

Review

"Scott Patterson has the ability to see things you and I don't notice. In" The Quants" he does an admirable job of debunking the myths of black box traders and provides a very entertaining narrative in the process."
--Nassim Nicholas Taleb, New York Times bestselling author of" Fooled by Randomness" and" The Black Swan"

"Fascinating and deeply disturbing...Patterson gives faces and personalities to the quants, making their saga accessible and intriguing...[he's] onto a big story that begs follow-up."
--New York Times
"Valuable...makes [the quants'] secretive world comprehensible...the story radiates with hubris, high stakes and expensive toys."
--Bloomberg.com
"A riveting account...there are many dramatic moments and a good dose of schadenfreude in Scott Patterson's THE QUA

Product details

  • Format: Kindle Edition
  • File Size: 1341 KB
  • Print Length: 354 pages
  • Publisher: Cornerstone Digital (31 May 2012)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B0080K3PAO
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Average Customer Review: 3.5 out of 5 stars 10 customer reviews
  • Amazon Bestsellers Rank: #177,236 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

Format: Paperback
"The Quants" attempts a style similar to Michael Lewis's far superior "The Big Short" but Patterson isn't up to it. He lays clichés down as thick as he can and never really finds a way of organizing his characters and their stories. The book is a big jumble, and the explanations of the various investment vehicles are often vague and self-contradictory.

Neither an enjoyable nor enlightening read.
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Format: Paperback Verified Purchase
Amazingly I am the first person to review this book. It's also the first book I've ordered in advance. I will admit that I am only quarter way through it but so far it is fascinating.
The Quants is up to the Michael Lewis gold standard of Wall Street books. Scott Patterson tracks the mathematical geniuses (or genii) known as the Quants.
These guys have transformed Wall Street making themselves billionaires and making the markets potentially more dangerous than the infamously volatile, planet-threatening, Krakatao volcano!
I think 'The Quants' could be the book on Wall Street I have been waiting for.

UPDATE: I gave this 5 stars after I'd read the first 50 pages. It was a great start, full of information and great characters, but sadly it runs out of steam.
It had the makings of a great book but by page 100 it is referring to Lewis's Liar's Poker and basically retelling what Michael Lewis told us ten years ago.
What is the point of that?
Really this book is an article on THE QUANTS stretched out to novel size by using other people's material and retelling the credit crunch etc.
JP :)
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Format: Kindle Edition Verified Purchase
Well written build up to one of the greatest financial meltdowns of history. A background look at the Masters of the (Quants) Universe, their perverse failure to understand the human condition and the herd mentality of flights to safety in financial markets. Black Swan events are far more frequent than the understanding of the Truth that these early mathematical masters modelled.

The book is well written and well paced and although could be accompanied by a compendium of financial terminology and quantitative mathematics, provides the casual or interested reader with a great background to recent history.

An author I will definitely be buying more books from.
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Format: Paperback
Starting with an impressive backtrack all the way to the legendary traders who broke Las Vegas, and connecting these with their roles in the subprime destruction of the capital markets, this is one of the best books on the current crisis I've yet found.

The book then, in its final third, continues with a day-to-day account of when their mathematical equations self-destructed.

The one thing that leaves me longing after reading this book is - how. Its record here is very shallow, only establishing that scouring for arbitrage between the different asset markets (equities, options, bonds, forex), they exploit pricing inconsistencies to their advantage. And that is it. A bit more information here would have been good.

But otherwise an excellent work, well recommended.
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Format: Paperback Verified Purchase
Don't believe a word I read. The bubble was due to the housing market junk bond collapse.
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