11 quotes from My Life as a Quant: Reflections on Physics and Finance: ‘If you decide you don’t have to get A’s, you can learn an enormous amount in coll. “Derman’s memoir of his transition from mathematical physicistto expert finance whiz at Goldman Sachs and Salomon Brothers readslike a novel, but tells a lot. Last week I was in a bookstore and ran across a new book by Emanuel Derman called My Life as a Quant: Reflections on Physics and Finance.

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Amazon Music Stream millions of songs. Beyond the derivatives work that Derman and others pioneered, the quantitative and computational approach to trading has more recently become capable of causing global financial singularities within a matter of minutes.

Derman got a particle theory Ph. Pure thought and beautiful mathematics can divine the laws of physics. I would recommend How I Became a Aa if you enjoy this kind of material. That information could then be used to priceexotic options more accurately.

This is true for anyone who plans to be a scientist, entertainer or professional athlete. In the latter case theorists were at least decent ddrman to consider, briefly, whether a thermonuclear reaction set off by an H bomb just might destroy the atmosphere of the earth.

Published September 16th by Wiley first published But what the heck is a swaption? 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.

The first man puts on two condoms, one over the other, and then sleeps with the first woman. Read reviews that mention wall street goldman sachs bell labs quantitative finance life as a quant physics and finance fischer black salomon brothers columbia university emanuel derman financial engineering south africa graduate student must read financial models nobel prize particle physics graduate school career path financial markets.

Not Enabled Word Wise: We were both trained in elementary particle physics and quantum field theory at top universities during the same years, and, due to the Ballet Dancer effect, both of us later had to fiind a transition to some other career path. A memoir describing Derman’s career. The author does not dress up the important decisions he made: After these positions, the relative freedom of Wall Street looked pretty good, and he joined the quantitative side of Goldman Sachs that side being the less prestigious one, relative to the trading side, or salescreating financial models and specializing in interest rate modeling.


Algorithmic and high-frequency trading – where buy and sell decisions are made by computer programs in milliseconds – are now a real concern.

I had reached the point where I merely enviedthe postdoc in the office next door because he had been invited togive a seminar in France. Quotes from My Life as a Quan I could totally relate to the author when he talks about getting a Physics PhD in Columbia or studying options and futures on his own to get to Wall Street. I might have had trouble following the philosophical musings on theoretical physics if I didn’t already an interest and some education in the area.

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My Life as a Quant: Reflections on Physics and Finance

At times he broke in on the initial sentence of the talk, refusing to let a speaker proceed until the point was clarified. These exotic derivatives, when circulated in large volumes, turned xs to have potential for destablizing the entire financial system. My colleague John Morgan also got a very quick Ph. Nothing beats working closely with traders. Is this feature helpful? After several days in a tent, cut off from any news, we went to meet my in-laws who were vacationing in a nearby hotel.

It’s closer to 4 stars than 3. I would recommend it to anyone considering switching from academia to industry or vice versa. Imagine looking for this principle with Robert Laughlin. There is some poignancy in Derman’s transformation from theoretical physicist bent on a life in academia where he hoped to make groundbreaking discoveries about elementary particles to mid-level employee of one of the world’s great financial institutions Goldman Sachs.


Page by page, Derman details his adventures in this field—analyzing the incompatible personas of traders and quants, and discussing z dissimilar nature of knowledge in physics and finance.

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My Life as a Quant: Reflections on Physics and Finance – Emanuel Derman – Google Books

Since it was premature for formal arrangements and since I was naturally reticent and shy, I simply began to greet him very politely whenever our paths crossed. There’s a lice loading this menu right now. Alexa Actionable Analytics for the Web. Overall, This book was Emanuel Derman Eman dryly taking us through his life as a theoretical physicist turned quant. Lists with This Book. Amazon Renewed Refurbished products with a warranty.

Showing of reviews. There are no discussion topics on this book yet. In the second half which addresses his financial career, his arrogance is not as noticeable, so either he was actually humbled by his change in career, as he describes in the book, or I have the benefit of not being in his profession.

Lee, the brightest star in the firmament. Would you like to tell us about a lower price? And he is not lying about wasting his youth. Insights from 25 of Wall Street’s Elite.

Want to Read Currently Reading Read. Only the outer surface of the outer condom and the inner surface of the inner one has had contact with any potentially infectious surface. Showing of reviews. Derman conveys some of the excitement of the ‘s as the standard model aa and looked for verification; a heady time. The further adventures of some of my acquaintances.