Emanuel Derman spent two decades at Goldman Sachs, making valuable contributions to financial modeling. Before that, as recounted in My Life as a Quant (John Wiley & Sons, 2004), he was a physicist. Today, Derman is the head of risk management at Prisma Capital Partners and directs Columbia University’s financial engineering program. He also devotes energy to combating the belief that security markets can be analyzed with the same mathematical precision as heavenly bodies and subatomic particles.
General Tenor: Bearish. Almost all of the speakers at the conference expressed concern about the direction of the global economy. Specifically, bearishness was expressed for:
The European sovereign debt crisis
The U.S. Congress’s political gridlock and inability to resolve the U.S…. READ MORE ›
When it comes to the European and U.S. debt crises are we nearing the dénouement — or still in the opening act?
At the Financial Analysts Seminar in Chicago earlier this week, Rick Rieder (pictured left), managing… READ MORE ›
As the Roman epic poet Virgil wrote in the Aeneid, “Fortune favors the brave.” For investors who live by this creed, complex credit assets and structured investments — once the scourge of global financial markets — are beginning to regain… READ MORE ›
When it comes to fixed income, Canada is the cleanest shirt in the hamper.
The reason, says Ed Devlin, executive vice president and head of Canadian portfolio management at Pacific Investment Management Company, is that Canada engages… READ MORE ›
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