Flush with financial engineering knowledge as never before, firms are deploying quants to tackle new challenges. Tim Bourgaize Murray reports on a fresh discourse among them about technology—including communication, memory, and intuition—indicating a new source of fascination.
Practitioners of quantitative finance—an eclectic group of physicists and poker players, sports bettors and academics—are no longer only building the risk-neutral pricing models that guide derivatives markets, the traditional “Q” group of quantitative problems. Increasingly, they are tasked with the “P” group too: building portfolios and hedges; adjusting credit, debt, and funding valuations;...
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