




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


 