The uants review é 3


review The uants

The uants review é 3 Õ [Reading] ➮ The uants ➶ Scott Patterson – Danpashley.co.uk “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 “Beware of geeks bearing formulas” Warren Buffett   ITsche Bank found time for freuent visits to Las Vegas with the famed MIT card counting team     On that night in 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 uants  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 uants believed that a dizzying indecipherable to mere mortals cocktail of differential calculus uantum 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 uants te. I'm a bit naive when it comes to the Wall Street world of statistical arbitrage and collateralized debt obligations so I learned something new on every page of this book I'm not sure I followed all of the different players and why exactly my mortgage is expensive than my house but this was definitely an interesting and mostly accessible read about how our economy ended up in the dumps and whet my appetite for Also perhaps the stock market wasn't really a good idea in the first place and neither was computers statistics or poker I think my rating would really be a 375 but I think from now on I'm against decimal points too And milliseconds

The uantsTsche Bank found time for freuent visits to Las Vegas with the famed MIT card counting team     On that night in 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 uants  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 uants believed that a dizzying indecipherable to mere mortals cocktail of differential calculus uantum 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 uants te. I'm a bit naive when it comes to the Wall Street world of statistical arbitrage and collateralized debt obligations so I learned something new on every page of this book I'm not sure I followed all of the different players and why exactly my mortgage is expensive than my house but this was definitely an interesting and mostly accessible read about how our economy ended up in the dumps and whet my appetite for Also perhaps the stock market wasn't really a good idea in the first place and neither was computers statistics or poker I think my rating would really be a 375 but I think from now on I'm against decimal points too And milliseconds

read Ñ eBook or Kindle ePUB Í Scott Patterson

The uants î “Beware of geeks bearing formulas” Warren Buffett   In March 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     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 PDTwhen 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 AR 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 billion worth of positions for Deu. Meh The pervasive Poker Theory forces Patterson into a straightjacket as regards his casting decisions—colourful though these depicted characters prove to be—and he assigns the label uant to those who do not seem to merit it and blame for the economic crisis of 2008 to these same uants in what in my humble opinion is a mostly erroneous and misplaced determination of guilt The background story itself is uite intriguing as is the proliferation of mathematical modeling in financial markets but the entire affair contained too much sizzle and too little steak read Ñ eBook or Kindle ePUB Í Scott Patterson

Scott Patterson Í 3 read

Scott Patterson Í 3 read Lls 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 I’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 uants 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 uant 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 NASDA close and the timeless power of a Greek tragedy The uants is at once a masterpiece of explanatory journalism a gripping tale of ambition and hubrisand an ominous warning about Wall Street’s future  . The first half is a page turner the second half reads like a drag It probably really depends on what you enjoy reading I did like the background storytelling of Ed Thorp Beat the Dealer and the very early beginning of mathematics on Wall Street I enjoyed reading about the mathematics of Brownian Motions fractals or about Mandelbrot and how they impacted the new financial modeling on top of statisticsAt some point though into the book I am lost in the narrative The author cramps in loose stories about uants that are relevant for the umbrella topic of uantitative trading but not concise any with the overall story Sometimes less is Towards the end I am not even sure what the overall narrative was supposed to be The end is abrupt and does not lead anywhereI will probably read the book again at some point But for now I am semi disappointed