Photo: screen grab
Jon Stewart had Scott Patterson, the author of the book, The Quants, on his show last night.Put very generally, “the quants” are traders that create algorithms to trade based on historic patterns. A lot of the time they trade in high frequencies, making many, many trades per second.
In many ways, in the past decade, they’ve taken over Wall Street.
In any case, they are pretty important.
A good example of how well they know this, is that have a “Hippocratic oath” to keep their egos in check:
“I will remember that I didn’t make the world and it doesn’t satisfy my equations.”
Jon Stewart gets a kick out of that. Watch the video: