{"id":2096463,"date":"2019-01-07T13:52:40","date_gmt":"2019-01-07T08:22:40","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=2096463"},"modified":"2019-01-07T13:52:40","modified_gmt":"2019-01-07T08:22:40","slug":"book-review-the-quants","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2019\/01\/07\/book-review-the-quants\/","title":{"rendered":"Book Review: The Quants"},"content":{"rendered":"<p>In the book <em>The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It<\/em> (<a href=\"https:\/\/www.amazon.com\/Quants-Whizzes-Conquered-Street-Destroyed\/dp\/0307453383\" rel=\"noopener\" target=\"_blank\">Amazon<\/a>,) Scott Patterson provides a peek into the world of quantitative finance with the meltdown of 2007\/2008 as a backdrop.<\/p>\n<p>The book is gripping. It almost reads like a whodunit. It is like a modern-day update to <a href=\"https:\/\/www.amazon.in\/Jack-D.-Schwager\/e\/B000AR7ZM4\/ref=dp_byline_cont_book_1\" rel=\"noopener\" target=\"_blank\">Schwager&#8217;s<\/a> Market Wizards series. However, I am not sure I agree with the book&#8217;s narrative that quantitative models caused and made volatility worse. In reality, an unwind of any crowded trade can trigger a doom loop of volatility. And in a margin call, the most liquid assets are the first to go.  Secondly, for a book that covers statistical arbitrage, long\/short value and momentum strategies and capital structure arbitrage using credit default swaps, missing Bridgewater and their risk-parity model is a big one.<\/p>\n<p>Recommendation: Worth a read.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the book The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It (Amazon,) Scott Patterson provides a peek into the world of quantitative finance with the meltdown of 2007\/2008 as a backdrop. The book is gripping. It almost reads like a whodunit. It is like a modern-day update &hellip; <\/p>\n","protected":false},"author":2,"featured_media":2093173,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4023],"tags":[3751,3761],"class_list":["post-2096463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-book-reviews","tag-book","tag-review","entry"],"_links":{"self":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/2096463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/comments?post=2096463"}],"version-history":[{"count":0,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/2096463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media\/2093173"}],"wp:attachment":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media?parent=2096463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/categories?post=2096463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/tags?post=2096463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}