simmons may be the most successful quant in monetary terms, but emanuel derman is considered to be the father of quants.
regards, surf
Quants --Alive and Kicking
- Thread starter marketsurfer
- Start date
simmons may be the most successful quant in monetary terms, but emanuel derman is considered to be the father of quants.
regards, surf
Quant funds - what a joke,in light of the current financial crisis who would be retarded enough to invest in one?These so-called maths experts are a waste of space and now,money too.
I'd love to be a fly on the wall listening to them pitch to investors - "honestly,we really know what we're doing now,those other quant funds were unprepared but we're better,honestly,look - Norman is wearing a lab-coat,he must be worth investing in,oh,how much money do we have - zip,nothing,nil,nada,but seriously look at this formula,it means we only stop you out when we've absolutely trashed your account.......etc,etc"
I'd love to be a fly on the wall listening to them pitch to investors - "honestly,we really know what we're doing now,those other quant funds were unprepared but we're better,honestly,look - Norman is wearing a lab-coat,he must be worth investing in,oh,how much money do we have - zip,nothing,nil,nada,but seriously look at this formula,it means we only stop you out when we've absolutely trashed your account.......etc,etc"
Usually, it's more the institutionals coming and crying: 'Come on I'm sure you could make up some space for me in your fund...'
I'm more inclined to give that title to Jack Treynor, who (along with several other quantitative finance pioneers) significantly predates Derman.
Simmons seems to be the most financially successful of all quant managers ("king of the quants", maybe?), even though it seems that he did not originate the core algorithms for Medallion (the Renaissance fund that's done so well); these algos appear to be the spirtual descendants of Claude Shannon and Jack Kelly, by way of Elwyn Berlekamp, who seems to have turned down what would up being Wall Street billions in favor of continuing as math professor at Berkeley.
So I suppose Shannon/Kelly could also be called "fathers of the quants", too (by a separate branch in the family tree, so to speak), and their work predated the Treynor CAPM, except that they never actually worked on Wall Street, and little if any of their work is probably taught as "quantitative finance" in MFin courses (I'm guessing), even though it's proven enormously successful for Medallion.
How long ago exactly?????All I've been reading about is record redemptions.
I hardly think many institutionals are taking on the risk of investing heavily in quant funds seeing as they've been a disaster.Quants will be a footnote in history,an unpleasant smell that will linger for a bit then disappear until the next 'genius' has a eureka moment,gets something to work for a few months then loses someone elses money.
Obviously you are not an institutional... you just can read about them.
thank you for the information.
happy new year!
surf
And you obviously know nothing about science or trading.I don't see how you can honestly disagree with anything I've said,there again most of the quants are so arrogant and considering your username I shouldn't be too surprised.
MD in Theoretical Physics and Postgrade degree in Applied Maths. Trading for 7 years now, managing my own 7 figures. On top of that, I am even paid for advising on >20bio of investments.
Yes, to you and your pocket money I may look very arrogant. But I like it
Quote from science_trader:
MD in Theoretical Physics and Postgrade degree in Applied Maths. Trading for 7 years now, managing my own 7 figures. On top of that, I am even paid for advising on >20bio of investments.
Yes, to you and your pocket money I may look very arrogant. But I like it
I don't believe a word of that.You're clearly in denial.The only way you're managing 7 figures this year is if you were managing 8 figures last year.