["My Life as a Quant"]

[fiefoe]

The book starts off a bit dry as Emanuel Derman goes over the ABC's of physics and finance, but by and by, his dry wit kicks in. 'The capacity to wreak destruction with your models provides the ultimate respectability.' 'Ambition's degradation (is like) a process options theorists call time decay - stock options lose their potential as they approach their own expiration.'

The firs two chapters chronicle his graduate student life at Columbia in the 70s, when the department was dominated by the brilliant Tsung-Dao Lee, 'a holy terror'. One 'high' point was his awkward courtship for an adviser. He began by greeting his quarry politely whenever they ran into each other, which was often. As 'this limbo of flirtatious foreplay continued unabated', 'our facial manipulations... (became) a caricature, a Greek theatrical mask signaling friendliness'. Finally the hunter turned his tail instead: 'I was moving upstairs or downstairs to another floor as soon as I saw him approaching, like the protagonist in some ghastly version of the video game Lode Runner'.

"The Dog Years" wore on him. Thus he says of his later industry career, 'it was nice to be able to contribute without having to be extraordinary'. He also mentions 'Jason' (a division of the Institute for Defense Analysis) - 'an acronym for Junior Achiever, Somewhat Older Now - or English for ex-wunderkind'.

There was a passing reference to Doug Hofstadter of GEB, BEG fame. (I have to mention the good timing on mefi.)