And The Cows That Were Ugly and Gaunt Ate Up The Seven Sleek, Fat Cows: How Legal and Technological Changes Opened Up the Financial Industry to Quantitative Financial Practitioners

Run Time: 50.27 minutes Thought leader, industry expert and author, Aaron Brown offers a summary of quant finance as it is today: Legal and technological changes in the 1970s opened up a virgin environment for quants on Wall Street. We flocked to finance and evolved to fill ecological niches formerly occupied by non-quantitative practitioners. Paul Wilmott, through his website, his magazine and his course, was the first person to link up all the quants in finance around the year 2000. The resulting cross-fertilization and heterosis accelerated the quant revolution. This video, one of six from the Wiley WILMOTT Summit on Risk and Quantitative Modeling in Finance, held on the 11th December 2012 at Columbia University, New York feature the presentations from thought leaders and industry experts aiming to draw together some of the lessons of the last decade in order to restate the discipline's fundamental role in driving the future success of the global market economy. This is the time to define what quantitative finance really means beyond the fallout of the global financial crisis and to identify the technology and techniques that will power innovation and growth. Videos in this series include: Paul Wilmott - Recent Advances in Stupid Ideas in Quant Finance Kent Osband - Fooled by Rational Turbulence  Aaron Brown - And The Cows That Were Ugly and Gaunt Ate Up The Seven Sleek, Fat Cows Patrick S. Hagan - On Beyond Black: Volatility Surfaces and Dark Noise Edward O. Thorp - What Finance Has Taught Me Chaired by Jack Schwager – Wiley Wilmott Summit Debate, Is Finance the sickness or the cure? Joined by Paul Wilmott, Kent Osband, Aaron Brown and Patrick S. Hagan