Youre a genius. Nobody plays the financial markets better than you. What could possibly go wrong? Quants
- quantitative analysts
- were the maths masterminds let loose on Wall Street in the belief that their brilliant impregnable computer programs would always beat the market. But as the catastrophic events of 2007 & 2008 showed their seemingly failproof methods were little more than ticking timebombs. Inspired by the Godfather of Quants
- maths-professor-turned-gambler Ed Thorp who began applying skills learned at the Vegas tables to the financial markets back in the 1950s
- the quants achieved extraordinary success & massive wealth. This book charts their rise from obscurity to boom & then to bust explaining why they were so confident
- & how they got it so disastrously wrong.