Morning Keynote: "Financial Engineering and Its Discontents" by Dr. Emanuel Derman

Talk by Dr. Emanuel Derman, Professor at Columbia University, and author of "My Life As A Quant" and "Models.Behaving.Badly: Why Confusing Illusion with Reality Can Lead to Disasters, On Wall Street and in Life." From QuantCon NYC 2016.
Neoclassical finance has been with us for over half a century, and its methods have become somewhat uncritically ingrained in the minds of quants. From mean-variance optimization to options theory to behavioral finance, Dr. Derman will discuss which of these ideas work better, and which don’t.
The slides for this presentation can be viewed at www.slideshare.net/Quantopian....
To learn more about Quantopian, visit us at www.quantopian.com.
Disclaimer
Quantopian provides this presentation to help people write trading algorithms - it is not intended to provide investment advice.
More specifically, the material is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by Quantopian.
In addition, the content neither constitutes investment advice nor offers any opinion with respect to the suitability of any security or any specific investment. Quantopian makes no guarantees as to accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.

[@optimizedpran1247]

I can't believe they got Emmanuel Derman and guys like Marcos Lopez de Prado to speak at their events. Legit these guys are legends.

[@user-or7ji5hv8y]

Always look forward to his talk.

[@harendrasingh_22]

0:40 ! Wanted to have a book to read this summer, this seems it if true !

[@Erays_Adventures]

Thank you for this!

[@mayavik1034]

The legend himself.

[@MF-bi8ke]

What does it mean? If finance does not have any Law, why we use all these scientific and engineering technics?

[@_max2509]

Before we discover elliptic orbital shape of planets, we only knew from our perspective that planets go left and right without clue of what happening, we aim here at the process to discover these big theory and apply it to finance.

[@lukealadeen7836]

He means that finance for the most part is a social science. You can't exactly model human behavior no matter how advanced your mathematical modeling is

[@sybentley6675]

If it gives you an edge and you trade $1billion+ you can make a lot of money! ....... for your clients of course?

[@whytho7002]

big red pill i stumbled upon

[@jameschen2308]

Haha, Freud

[@hanst7218]

Very boring.