Patterson's book as with most of the "popular" level books on the 2007/2008 crisis suffers from being an easy read that sacrifices details for readability. The book is in general a quick entertaining read, but at the end of it the reader is left wondering if they actually learnt anything from the book at all.
While the book was undoubtedly never intended as a rigorous tome, I must say the analysis and insights fall a bit short of what I hoped. Part of it will undoubtedly be linked to very few managers being willing to actually share any meaningful insights on their trading and models. The other factor I can only assume is that authors are rushing books out to meet the demand for works on the topic and are willing to release superficial works as most of their readers wont actually complain.
As a member of the general public interested in gaining a bit more insight on quantitative investing I might be happy with this book and for that level of reader I would recommend it. As a market professional I feel a little short-changed and will keep looking for a more rigorous analysis of the actual role of quant driven funds (if any) in the crisis.Get more detail about The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It.
No comments:
Post a Comment