In the work of finance, there exist in every company a group of workers who are commonly referred to as "quants". Formally, they're known as quantitative analysts and there job is essentially to crunch numbers; using the tools of mathematics, they analyze statistics and numbers and create and evaluate financial models. The value of math cannot be overstated; from physics to science to engineering to politics to business and finance, the tools of math often form the bedrock of these disciplines. However, its adamant use by financial analysts on Wall Street has always been scrutinized and that has especially been the case since the financial collapse that struck much of the Western World 5 years ago. Warren Buffet, the famous billionaire and investor, even crudely asked people to "Beware of geeks…bearing formulas". This wasn't just the ramblings of a disgruntled old man; there was a general sentiment that quants had gone too far with their models. Th...
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