The Quants: How a New Breed of Mat寬客 英文原版 [平裝] pdf epub mobi txt 電子書 下載
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Journalist Patterson proves Mark Twain's point that "truth is stranger than fiction." Patterson's recounting of the events leading up to and including the global financial meltdown in 2007 and 2008 features the Quants, a new breed of investor, a corps of elite math geniuses who exchanged the hunches of risk-taking traders for advanced mathematical tools, including complicated algorithms and supercomputers. These new titans of Wall Street set off a chain of events for a financial catastrophe beginning in August 2007, which nearly destroyed the world's financial markets. This is primarily the story of four main "characters"—Morgan Stanley's Peter Muller, Citadel hedge fund's Ken Griffin, Cliff Asness of AQR hedge fund, and Boaz Weinstein of Deutsche Bank. These and other number-crunching wizards amassed multibillion-dollar war chests and then the numbers turned against them. Their ascendancy to the heights and then extraordinary fall to near extinction is a remarkable story, as is the possibility that they all will rise from the ashes. This is a must-read, excellent book.
內容簡介
"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 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 PDT…when 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 AQR, 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 $30 billion worth of positions for Deutsche Bank found time for frequent visits to Las Vegas with the famed MIT card-counting team.
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 believed that a dizzying, indecipherable-to-mere-mortals cocktail of differential calculus, quantum 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 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. 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 Quants, 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 quant 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 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.
作者簡介
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.
精彩書評
"Valuable…makes [the quants'] secretive world comprehensible…the story radiates with hubris, high stakes and expensive toys."
——Bloomberg.com
The Quants: How a New Breed of Mat寬客 英文原版 [平裝] 下載 mobi epub pdf txt 電子書
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☆☆☆☆☆
送來幾天瞭已經看完,作為故事看看還挺好玩兒的,也值得購買。但是希望學習專業知識的還是買教材吧。
評分
☆☆☆☆☆
送來幾天瞭已經看完,作為故事看看還挺好玩兒的,也值得購買。但是希望學習專業知識的還是買教材吧。
評分
☆☆☆☆☆
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評分
☆☆☆☆☆
非常滿意,五星
評分
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The Quants: How a New Breed of Mat寬客 英文原版 [平裝] pdf epub mobi txt 電子書 下載