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The rise and fall of the quants

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When the U.S. financial system melted down, fingers were quickly pointed at the "quants"-the physicists, mathematicians, and engineers who had devised the computer programs, statistical tools, and financial instruments that were supposed to help investors manage risks. Critics said that it was the flawed assumptions of those financial models that brought banking to the brink of Armageddon

Published in:

IEEE Spectrum  (Volume:46 ,  Issue: 8 )