What Are Quants? | The Business Desk with Paul Solman | PBS NewsHour

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Not a blog but a "q-and-a" (pronounced "quanda"), this page is about the basics of economics. Its premise: there are no stupid q's. And if some a's seem dim, take heart: I can brighten them up in response to objections, corrections, refinements. Comments on posts feature yours, and my responses. Enough of you now frequent and query the quanda that I post most every day. Haven't seen your q yet? Send it again. All a's should be taken with a shaker of sodium chloride, if not a Lot's-wife's-worth. And speaking of salt, the mustache and "hair" in the photo has a lot less of that condiment, and rather more pepper, than can be seen on TV. Think of it as time travel.

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What Are Quants?

Name: Nancy Boulicant
City & State: Mass.

numbers sign; stewf via Flickr

Question: What are 'quants'?

Paul Solman: Quantitative experts, or if you prefer, "number jocks" or "math whizzes" who have gone to "Wall St." (ie, the world of finance). They construct formulas for investing and packaging investments.

Take their prescriptions and products too seriously, it seems, and you can wind up with an overcomplicated, overextended, underregulated world financial system. Which appears to be just what we've had, perhaps due in large measure to the deification of...quants.

-- Posted April 29, 2009 | Comments ( ) | Permalink