Quants - The Alchemists of Wall Street - (vpro backlight documentary - 2010)



Quants are the math wizards and computer programmers in the engine room of our global financial system who designed the financial products that almost crashed Wall street. The credit crunch has shown how the global financial system has become increasingly dependent on mathematical models trying to quantify human (economic) behaviour. Now the quants are at the heart of yet another technological revolution in finance: trading at the speed of light. What are the risks of treating the economy and its markets as a complex machine? Will we be able to keep control of this model-based financial system, or have we created a monster? A story about greed, fear and randomness from the insides of Wall Street. Originally broadcasted by VPRO in 2010. © VPRO Backlight February 2010 VPRO Documentary: Our globalized world causes societies, economies and cultures to seek a new balance. VPRO Documentary reflects on this with new features every week. We research subjects like politics, world economy, society and science with experts and try to grasp the essence of prominent trends and developments. So subscribe to our channel and we will be delighted to share our adventures with you! Visit additional youtube channels bij vpro broadcast: vpro Broadcast: https://www.youtube.com/channel/UC75PWWQrls0z6fh0loY5I4Q vpro Metropolis: https://www.youtube.com/channel/UCpnazGScKQfGauk7YNyI21w vpro Documentary: https://www.youtube.com/channel/UC9sXw4ZdPEIp6bYGvLW-_iA vpro World Stories: https://www.youtube.com/channel/UCqJ6GC0klkbFuQa-0ZePqkQ vpro Extra: https://www.youtube.com/channel/UCTLrhK07g6LP-JtT0VVE56A vpro VG (world music): https://www.youtube.com/channel/UC-KX3q7zIz7s2rjooBfl6Nw vpro 3voor12 (alternative music): https://www.youtube.com/channel/UC-p9faJQsBObRNiKY8QF2NQ vpro 3voor12 extra (music stories): https://www.youtube.com/channel/UCtgVYRLGraeL9rGMiM3rBHA www.vprobroadcast.com Credits: Director: Marije Meerman Research: Gerko Wessel English, French and Spanish subtitles: Ericsson. French and Spanish subtitles are co-funded by European Union.

Comments

  1. This math is pretty basic, this nerds make it sound like it's maths for ultra geniuses, but I saw all this during my junior year in Econ BA, and even more complex math than that.
  2. Anyone knows the title of the book Paul Wilmott shows in the video?
  3. Then go develop a software where to find bigger oysters
  4. This helps more than school
  5. That's the look of a little bitch. @5:07
  6. Fuck I just found this video and it's is 8 years old... Where are we now?
  7. So basically they use advanced mathematics to con people into believing they can predict the market when in all reality they are just guessing. Quant or Qunts?
  8. So fascinated about quantitative analysis. Im so happy i discovered it before deciding on my masters degree. Just started to study finance and in my free time i lookup courses about linear algebra and statistiks until i am ready to start the quant course!
  9. These guys are AMAZINGLY SMART!!!!
  10. I can't believe that I only found this video yesterday.... 6 years later :-/
  11. Too drunk to truly appreciate this at the moment but I will watch it when I sober up
  12. 35:21 i like this quote. Paul Wilmott is so awesome, this guy is something else
  13. I wish i can pursue this career but i really suck at math :(.
  14. When you go through the thoughts behind this, you understand what Karl Marx is talking about. The incentives of individuals creating value comes from money, that's what these problems all come from. But the success of communism has to be at the very end of the capitalism, when all the finance are died and people need to find a new way that value just allocated perfectly. it's not even gonna be called as communism, it's the same thing but it will be just the new form and the ultimate form of capitalism
  15. That is true... very sad... but the bright side is the quants or scientist leave the job very soon, now you see kid coming to a hedge fund and leave in less of year, the collect bonus, learn the markets and set up their own trading desk at home and go to pursue another field in science, and caring less for the money since they got a computer placing trade and making some steady income.
  16. God damn, they really make being a financial engineering student sound like a nightmare. Actually it's a whole lot easier than studying physics or pure math.
  17. Love the book. Now I just found this doc.
  18. 35:27, :D 'serves them right' then sips on his tea. I love this guy
  19. What is the title of the book at 27:59?
  20. Anyone, know what book hes reading from at 27:31


Additional Information:

Visibility: 923437

Duration: 47m 50s

Rating: 4272