




On Wall Street, a quant is an expert in quantitative finance. The term has been popularized in the title to the book, "My Life as a Quant", by Emanuel Derman. Derman epitomizes the quant. He trained in theoretical physics at Columbia then went on to work as a quant on Wall Street. Derman is best known as one of the namesakes in the landmark US treasury yield curve model, the BlackDermanToy model. Collaborator Fischer Black of Black Sholes option pricing model fame is certainly a quant, too. Not every quant is so famous as these two, but every quant is expected to know some advanced mathematics. Typical quant areas of expertise include stochastic calculus and time series analysis. The term quant has a connotation of computer programming excellence, too, since the numerical methods for pricing securities must be programmed into efficient algorithms for computers to perform real time valuation.
Rate this quant definition...




Where is the market headed? The answer may surprise you. Find out with the exclusive & Barron's recommended charts of Chart of the Day. 

Popular Terms: APR, required rate of return, in escrow, per diem, stock split, cancelled check, labor relations, liquidity ratio, inflation, 401a, limit order, risk management, Key Rate Duration, retained earnings, FICO score, quality assurance, 144a, real GDP, command economy, dividends payable, deferred revenue, class C shares, stock market close, deferred tax, balance sheet, reverse mortgage, phantom income, exdividend, option premium, LIBOR, annual return, debt service coverage, open position, 1035 exchange, current ratio, EBITDA, implied volatility, average price per share, whollyowned subsidiary, Zero Cost Collar, irrevocable trust, exdividend date, FTSE, diluted share, covered put, minority interest, VIX, 1031 exchange, margin rate


 