Terry Gross of NPR’s Fresh Air recently interviewed Ed Thorp, one of the original “celebrity quants” and Scott Patterson of the Wall Street Journal and author of the new book, The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It. “In 1962, Ed Thorp became every gambler’s favorite mathematician [...]
Credit cards are very much in the news these days. The Senate has passed new rules for credit card practices that are expected to pass the House and be signed by the President before Memorial Day. At the heart of this debate — sometimes on the surface and sometimes only through inference — are analytics. [...]
How will financial services organizations handle complex analytical decisions in the future? How our financial institutions made decisions about their operations and customers is at the heart of the financial crisis we’re in. Managers of these institutions entrusted decisions to analytical models they didn’t understand. Regulators allowed banks, rating agencies, and nonbank financial firms to [...]
