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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And I was delighted to see in the final chapter that he understands that man-devised models are not rules that nature or financial markets follow but rather attempts to describe what happens in nature and financial markets.

Hardcoverpages. In the first half, he reveals himself to be an incredibly arrogant physicist. If you are, might be, or ever were interested in quantitative finance, a must-read.

You are currently using the site but have requested a page in the site. Now hedirects the financial-engineering program at ColumbiaUniversity.

My Life as a Quant: Reflections on Physics and Finance

My fellow Americans, by this I have demonstrated that I can look after my own interests effectively — have no doubts, therefore that you can trust me to look after the interests of the whole nation. Qjant I was moving upstairs or downstairs to another floor as soon as I saw quanf approaching, like the protagonist in some ghastly version of the video game Lode Runner.

I appreciated his reflections up until after his work at Bell Labs. Amazon Renewed Refurbished products with a warranty. Amazon Second Chance Pass it on, trade lofe in, give it a second life. Is it reasonable to treat theeconomy and its markets as a complex machine?


After postgraduate work in physics, he transitioned to finance, and spent seventeen years as a “quant” at Goldman Sachs.

This chapter, entitled “In thePenal Colony” – a reference to a Kafka short story of the same name- is a tale of corporate woe. Learn more about Amazon Prime. In the Penal Colony. Detman was an extremely pleasant reading, much to my surprise. Page by page, Derman details his adventures in this field—analyzing the incompatible personas of traders and quants, and discussing the dissimilar nature of knowledge in physics and finance.

Heading the Quantitative Strategies Group. The surprisingly well-written autobiography of a South African physicist “doomed to be just very smart in a field dominated by geniuses” who goes into finance and eventually aas MD and head of Goldman’s highly-regarded quantitative strategies group.

Fischer Black, one of the original model’s authors, worked at Goldman and became a mentor and inspiration to Derman. Getting out of graduate school, only half-alive. Those with a liking for pure mathematics will have to grin and bear Derman’s critical comments about mathematical rigor and economic theory. Knowledge of the Higher Worlds. That is why Emanuel Derman’s memoirs are socompelling.

My Life as a Quant Quotes

Now back in academia, Derman has reflected on his experiences of the past 40 years. And he is not lying about wasting his youth. The bursting of the internet bubble. AmazonGlobal Ship Orders Internationally. Write a customer review. This is a reflection on life, not a secret-to-success book.

Learn more about Amazon Giveaway. This dfrman is not for those interested in learning quantitative finance.


Emanuel Derman born c. When the headhunter’s call finally took him to GoldmanSachs’s financial strategies group in Decemberit came as animmense relief.

Enabled Amazon Best Sellers Rank: The book also captures the period of how financial engineering became a serious discipline taught in univerisities and important milestones which scientists incl.

My Life as a Quant | Not Even Wrong

They thrive on interruption. The author discusses events such as learning about his mother’s aa in South Africa after the fact and listening to anti-semetic comments by his academic colleagues who don’t realize he is Jewish.

He begins his story inwhen he arrived in New York city fromSouth Africa as a bewildered, rather lonely 20 year old. The author does not dress up the important decisions he made: My colleague John Morgan also got a very quick Ph. A story about his search for a PhD advisor at Columbia is particularly charming.

I was reminded of another digression that the physics community took from the path of pure science, namely the atomic and hydrogen bombs.

Shopbop Designer Fashion Brands. Ironically, the best and most collegial academic atmosphere he experienced was not in a university but at Goldman Sachs.

He lives in New York City. He also talks about his life as a graduate student in a department which was not well managed nor concerned with its students’ career development, unfortunately all too common.