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Quants are not stupidI think some people are really stupid! Quants by nature needs a good level of Mathematical understanding. The so called high power "abstract"mathematics such as concentration (Levy) functions and other measure theories only help to develop the subjectfurther. Yes models do have limitations and those who base any trading decisions on them 100% are asking for trouble and yesindeed stupid. Wilmott thinks all quant maths should be noddy PDE's well it's not. Only by applying deep abstract pure mathematical ideas can any mathmatical based subject grow, look at theoretical physics! So for all you applied mathematicians out there understand that your subject is only advanced by understanding the underlying pure. So I suggest Wilmott and others go and learn some real mathematics before passing comment.
Quants are not stupid
I think some people are really stupid!
Quants by nature needs a good level of Mathematical understanding. The so called high power "abstract"
mathematics such as concentration (Levy) functions and other measure theories only help to develop the subject
further. Yes models do have limitations and those who base any trading decisions on them 100% are asking for trouble and yes
indeed stupid. Wilmott thinks all quant maths should be noddy PDE's well it's not. Only by applying deep abstract pure mathematical ideas can any mathmatical based subject grow, look at theoretical physics! So for all you applied mathematicians out there understand that your subject is only advanced by understanding the underlying pure. So I suggest Wilmott and others go and learn some real mathematics before passing comment.
