




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


 