“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. In My Life as a Quant, Emanuel Derman relives his exciting journey as one of the first high-energy particle physicists to migrate to Wall Street.

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The particulars of the physics theories wer I didn’t have any expectations of this book before I read it, other than it would hopefully give me some better insight into a part of the world of investment banking that I have worked. In My Life as a Quant, Emanuel Derman relives his exciting journey as one of the first high-energy particle physicists to migrate to Wall Street.

Emanuel Derman – Wikipedia

If financial innovators have no concern for global destabilization – or more likely not even the tools to evaluate it – then they are deeman us all at risk and there is no other choice but to damp down their activity by heavy handed government regulation. There was a problem filtering reviews right now.

Reflections on Physics and Finance by Emanuel Derman. He tells thestory of his passage between two worlds; he recounts his adventureswith physicists, quants, options traders, and other highfliers onWall Street; he analyzes the incompatible personas pife traders andquants; and he meditates on the dissimilar natures of knowledge inphysics and finance. He wallows in loneliness after leaving his home in South Africa to earn a PhD in theoretical quat at Columbia University.


A very honest and balanced account of life in academia and industry that doesn’t glorify or damn either of them.

Dec 27, Thai Son rated it it was amazing Shelves: He worked at Goldman from until except for one year at Salomon Brothers. Amazon Drive Cloud storage from Amazon. I think Christ was a student qiant T.

The author discusses events such as learning about his mother’s death in South Africa after the fact and listening to anti-semetic comments by his academic colleagues who don’t realize he is Jewish. Retrieved from ” https: I never thought that I would beinterested in quantitative financial analysis, but reading thisbook has been a fascinating education. A honest book on the journey up to the point when he left Goldman for Columbia Business School.

After postgraduate work in physics, he transitioned to finance, wuant spent seventeen years as a “quant” at Goldman Sachs. Getting out of graduate school, only half-alive. Meeting and working with Fischer Black. Marcos Lopez de Prado.

My Life as a Quant : Reflections on Physics and Finance

Once, a chief trader who passed between him and a fellow quant “”winced, clutched his head with both hands as though in excruciating pain, and exclaimed, ‘Aaarrggh-hhh! Derman together with Paul Wilmott wrote the Financial Modelers’ Manifestoa set of principles for doing responsible financial modeling. There he coauthoredsome of today’s most widely used and influential financialmodels. derjan


Overall, This book was Emanuel Derman Eman dryly taking us through his life as a theoretical physicist turned quant. It is difficult for me to comprehend the mind of a person who would rejoice in the bombing of his own department at a university.

Maybe I should have posted this in the callow youth discussion. Or is quantitativefinance merely flawed thinking masquerading as science, a bravewhistling in emanuwl dark?

My Life as a Quant

Maybe I ask for too much or maybe I know too little to begin with. Physics and finance redux. East Dane Designer Men’s Fashion. Views Read Edit View history.

My Life as a Quant : Emanuel Derman :

Who should read this book? In the Penal Colony. InDerman and Michael Miller published a textbook titled The Volatility Smilea textbook about the principles of financial modeling, option valuation, and the variety of models that can account for the Volatility Smile. While finance professionals may not learn anything new about Wall Street except about “Asian” optionsthe underlying story about a physicist coming to the realization that there is little room for a non-world class physicist will help shape anyone’s career plans.

Imagine looking for this principle with Robert Laughlin.