Author: Emanuel Derman

Ambition is a state of permanent dissatisfaction with the present.

 

“An honest account of the experience of going from an environment
of Nobel Prize winners and pure thought to one of
money, money, money. Derman gives us unique insight into the
motivations of academia, the pressure to cast off worldly success
in favor of matters more cerebral, then the mixed feelings
during his descent into a world where the bottom line is P&L,
and finally his success at bringing his own style of science into
investment banking.”
—Paul Wilmottt,
mathematician, author, and fund manager
“A fascinating personal account of one man’s journey through
several of the leading institutions of our time.Written by perhaps
the leading practitioner of his generation, this insightful
narrative explores the disparate cultures of physics, finance, and
their powerful fusion known as phynance. This book is a mustread
for aspiring quants, financial historians, and armchair sociologists
interested in the machinations of both academia and
industry.”
—Peter Carr,
Head of Quantitative Research, Bloomberg,
and Director, Masters in Math Finance, NYU