The Quants by Scott Patterson

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The Quants by Scott Patterson

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The Quants by Scott Patterson

In March of 2006, four of 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.

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 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.

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.
SCOTT PATTERSON is a staff reporter at The Wall Street Journal covering the latest cutting-edge technological advances on Wall Street. This is his first book.
SKU Unavailable
ISBN 13 9780307453372
ISBN 10 0307453375
Title The Quants
Author Scott Patterson
Condition Unavailable
Binding Type Hardback
Publisher Crown Business
Year published 2010-02-02
Number of pages 337
Cover note Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
Note Unavailable