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The Quants - How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It-logo

The Quants - How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It

Scott Patterson

In March 2006, the world's richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with ­million-dollar stakes. At the card table that night was Peter Muller, who managed a fabulously successful hedge fund called PDT. With him was Ken Griffin, who was the tough-as-nails head of Citadel Investment Group. There, too, were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR Capital Management, and Boaz Weinstein, chess "life master" and king of the credit-default swap. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants. Over the past twenty years, this species of math whiz had usurped the testosterone-fueled, kill-or-be-killed risk takers who'd long been the alpha males of the world's largest casino. The quants believed that a cocktail of differential calculus, quantum physics, and advanced geometry held the key to reaping riches from the financial markets. And they helped create a digitized money-trading machine that could shift ­billions around the globe with the click of a mouse. Few realized that night, though, that in creating this extraordinary system, men like Muller, Griffin, Asness, and Weinstein had sown the seeds for history's greatest financial disaster. From the Compact Disc edition.

In March 2006, the world's richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with ­million-dollar stakes. At the card table that night was Peter Muller, who managed a fabulously successful hedge fund called PDT. With him was Ken Griffin, who was the tough-as-nails head of Citadel Investment Group. There, too, were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR Capital Management, and Boaz Weinstein, chess "life master" and king of the credit-default swap. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants. Over the past twenty years, this species of math whiz had usurped the testosterone-fueled, kill-or-be-killed risk takers who'd long been the alpha males of the world's largest casino. The quants believed that a cocktail of differential calculus, quantum physics, and advanced geometry held the key to reaping riches from the financial markets. And they helped create a digitized money-trading machine that could shift ­billions around the globe with the click of a mouse. Few realized that night, though, that in creating this extraordinary system, men like Muller, Griffin, Asness, and Weinstein had sown the seeds for history's greatest financial disaster. From the Compact Disc edition.
More Information

Description:

In March 2006, the world's richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with ­million-dollar stakes. At the card table that night was Peter Muller, who managed a fabulously successful hedge fund called PDT. With him was Ken Griffin, who was the tough-as-nails head of Citadel Investment Group. There, too, were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR Capital Management, and Boaz Weinstein, chess "life master" and king of the credit-default swap. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants. Over the past twenty years, this species of math whiz had usurped the testosterone-fueled, kill-or-be-killed risk takers who'd long been the alpha males of the world's largest casino. The quants believed that a cocktail of differential calculus, quantum physics, and advanced geometry held the key to reaping riches from the financial markets. And they helped create a digitized money-trading machine that could shift ­billions around the globe with the click of a mouse. Few realized that night, though, that in creating this extraordinary system, men like Muller, Griffin, Asness, and Weinstein had sown the seeds for history's greatest financial disaster. From the Compact Disc edition.

Language:

English

Narrators:

Mike Chamberlain

Length:

6h 29m


Chapters

Introduction
Introduction

00:17


Chapter 1
Chapter 1

07:22


Chapter 2
Chapter 2

08:19


Chapter 3
Chapter 3

06:47


Chapter 4
Chapter 4

09:47


Chapter 5
Chapter 5

07:59


Chapter 6
Chapter 6

08:02


Chapter 7
Chapter 7

09:00


Chapter 8
Chapter 8

05:31


Chapter 9
Chapter 9

07:40


Chapter 10
Chapter 10

06:43


Chapter 11
Chapter 11

07:12


Chapter 12
Chapter 12

06:53


Chapter 13
Chapter 13

06:32


Chapter 14
Chapter 14

07:43


Chapter 15
Chapter 15

09:48


Chapter 16
Chapter 16

07:38


Chapter 17
Chapter 17

07:16


Chapter 18
Chapter 18

05:48


Chapter 19
Chapter 19

02:14


Chapter 20
Chapter 20

04:10


Chapter 21
Chapter 21

06:44


Chapter 22
Chapter 22

05:27


Chapter 23
Chapter 23

08:17


Chapter 24
Chapter 24

04:52


Chapter 25
Chapter 25

06:19


Chapter 26
Chapter 26

07:42


Chapter 27
Chapter 27

07:52


Chapter 28
Chapter 28

08:30


Chapter 29
Chapter 29

09:19


Chapter 30
Chapter 30

05:33


Chapter 31
Chapter 31

06:27


Chapter 32
Chapter 32

06:23


Chapter 33
Chapter 33

06:57


Chapter 34
Chapter 34

07:51


Chapter 35
Chapter 35

07:16


Chapter 36
Chapter 36

08:07


Chapter 37
Chapter 37

08:17


Chapter 38
Chapter 38

07:34


Chapter 39
Chapter 39

08:12


Chapter 40
Chapter 40

08:37


Chapter 41
Chapter 41

07:25


Chapter 42
Chapter 42

07:25


Chapter 43
Chapter 43

07:24


Chapter 44
Chapter 44

07:36


Chapter 45
Chapter 45

07:39


Chapter 46
Chapter 46

07:13


Chapter 47
Chapter 47

07:26


Chapter 48
Chapter 48

07:37


Chapter 49
Chapter 49

07:08


Chapter 50
Chapter 50

08:42


Chapter 51
Chapter 51

08:08


Chapter 52
Chapter 52

07:17


Chapter 53
Chapter 53

08:39


Chapter 54
Chapter 54

00:35