宽客人生：从物理学家到数量金融大师的传奇

• K.W.

  2012-06-13
  "whenever I see something complex and confusing in the investment area," he retorted," I see the scope for getting a little extra benefit out of being smart."
• K.W.

  2012-06-13
  that morning its overseer from Goldman had a few of the LTCM partners telephone us to discuss the subtleties of swap valuation. The question they asked us in that brief conversation showed an immediate understanding of theoretical subtleties that was far more insightful and sophisticated than any questions we had been asked by the Goldman traders we knew. It was a shock to realize that people whose great experience and knowledge straddled both the quantitative and the trading worlds had, despite their sophistication, brought themselves into such a catastrophic state
• [已注销]

  2012-06-02
  A trading desk had to turn to some jack-of-all-trades who could build their risk management tools, from the low-level databases through the financial valuation models to the high-level user interface. The jack-of-all-trades in that era was unlikely to be an MBA or a PhD in Finance—even if they knew enough quantitative finance, most of them looked down with disdain on programming and mathematics as cheap, geeky skills they could pay other people to do for them. Mathematicians, too, tended to avoid programming, preferring analysis to computation. Computer scientists, though they knew discrete mathematics and Boolean algebra, were often uncomfortable with continuous-time mathematics.PhDs in physics or engineering fit the jack-of-all-trades bill pretty well. First, the mathematics of fin...
• lsjaney

  2012-04-28
  我对物理学本身怀有热情，但对它的世俗的荣耀也充满极度渴望。尽管失望不可避免，这种热情和渴望还是持续了多年。10年后的1976年，我在牛津大学做博士后研究，对抱负的逐步降低有了一次微妙的体察。16或17岁时，我曾经想成为另一个爱因斯坦；21岁时，如果能成为第二个费曼就能让我很兴奋了；到了24岁，能做到李政道那样就可以让我很知足；等到1976年，我在牛津和其他博士后研究员共用一个办公室时，我发现我居然开始妒嫉坐在我身边的一位博士后，就因为它曾经应邀去法国出席过一次研讨会。非常类似的是，在金融领域，经过一段时间，也就是期权理论家们所说的时间损耗后，股票期权的潜在价值会随着到期日的临近而减少。
• JJJJ

  2012-01-27
  从那时到现在，经历了坎坎坷坷，我努力去记住，不管你在工作中或是生活中得到的有多么少，你总能从未来是无法预知的这个事实中得到慰藉。在你痛苦的时候，好运或许已悄然降临。
• JJJJ

  2012-01-27
  尽管拿下这个博士学位花了很长时间，但我并没有真的遗憾过；在某种程度上，我还为其中的艰辛感到自豪。在那些岁月中我所学到的百折不挠、坚韧不拔和数学技巧，对我无论是在华尔街还是在学术界都非常有帮助。不论是在什么领域，当试图去发现新事物的时候，一个人肯定要花好几年时间去思考，在起步的时候犯错误，在死胡同里绕弯路，还会被沟沟坎坎绊倒，但最后还是要站起身，继续前行。从这点来说，即使有痛苦、有磨练，读个博士仍是值得的。
• Hartree

  2023-05-13
  A third, after winning the prize for the best physics undergraduate at Columbia, struggled with manic depression. Determined to keep studying, he would keep a running daily log on his canary-yellow legal notepad of the exact number of minutes he had spent actually working at full concentration. Each time he paused or took a break, he stopped the clock and he wrote down the number of minutes he had worked since the last interruption. At the end of the day he computed the total.
• 茂盛

  2023-03-25
  根据托尔斯泰的说法，“业”是指有着因果关系的对罪孽的赎罪行为。就在那时我想我明白了“业”的含义。命运要求你放弃虚荣、野心和傲慢，来信奉上帝。发自内心地做这件事才是最好的。但是如果你做不到，那么“业”，也就是命运日常的运行方式，将会慢慢地、因果循环地磨掉你的虚荣，剥掉你傲慢和自负的外衣，就像在自动剥皮机里的土豆一样，直到你听命为止。
• 茂盛

  2023-03-25
  物理学中很多伟大的进步就是这样，它们把以前几乎无法想象的东西，变得条理化、系统化，并且成为可以日常操作的东西。每当我有一个新的问题需要解决，无论是物理问题还是期权问题，第一个主要的难点就在于找到如何推进工作的直觉，第二个难点则在于把这个直觉转变成很公式化的东西，变成任何人都可以照着去做的一套法则，这些法则已经不再需要最初的那些深刻的洞察力。这样一来，一个人的突破性的发现就变成了所有人共同的财富。
• 茂盛

  2023-03-25
  数量金融关心的是人们用以为金融合约定价的技术，在人们心理存在波动的情况下，它更像是一门研究现象的实用性学科，而不是研究深层原因的学问。
• 一锅脑浆粥

  2014-08-01
  I had a passion for the content of physics, but I was also possessed by a hungry ambition for its earthly rewards. Both passion and hunger persisted over the years, despite the inevitable disappointments. Ten years later, as a postdoctoral researcher at Oxford in 1976, I experienced a minor epiphany about ambition’s degradation. At age 16 or 17, I had wanted to be another Einstein; at 21, I would have been happy to be another Feynman; at 24, a future T.D.Lee would have sufficed. By 1976, sharing an office with other postdoctoral researchers at Oxford, I realized that I had reached the point where I merely envied the postdoc in the office next door because he had been invited to give a seminar in France. In much the same way, by a process options theorists call time decay, financial stock o...
• Ridin Solo

  2013-12-20
  In the end, character and chance counted at least as much as talent. Luck, combined with capacity to perserve, played an overwhelming role.
• 老爷

  2013-06-01
  我从在哥大遇见的教授和学生们各自的命运上领悟到了一点：最终来看，性格和机会至少是与天赋同等重要的。运气，再加上我母亲所说的“sitzfleisch",也就是坚韧不拔的毅力，两者起到至关重要的作用。
• 白乌鸦

  2012-07-15
  UNIX操作系统对编程者们来说是一个令人激动人心的开发环境。它包括了我曾经见过的最漂亮的工具程序中的两个：它们被称为"lex"和"yacc"，这两个工具程序让我几乎可以毫不费力地设计出编译程序。"lex"是“词法分析器”（lexical analyzer）的缩写，而"yacc"这代表了“目前为止又多了一个编译程序的编译程序”（Yet Another Compiler-Compiler）。像对很多UNIX工具程序一样，人们采用了短小可爱的首字母缩写形式来命名“yacc”。你可以用lex来设计一个子程序以识别合法的句子，然后执行你认为合适的命令。Lex和yacc都是“非过程性的”程序，也就是说你不用写出词法和语法分析的所有细节，你只需要告诉它们你需要识别"什么样"的语法，然后它们就可以使用与回塑到计算机先驱艾伦图灵和史蒂芬克林使用过的模式相匹配的算法规则，编写出一个程序来完成这项任务。我在lex和yacc的帮助下，学会了设计我自己的计算机语言。
• 任平生

  2016-10-06
  尽管为了完成博士论文花费了很长时间，但我并没有真正的遗憾过：从某种程度上讲，我为其中的努力而感到骄傲。我在那些年里学到的东西——百折不挠的韧性与数学知识，对我无论是在华尔街还是在学术界都非常有帮助。在任何领域内，只要有人想发现新大陆，他就要花费多年去思考、不断试错、在歧途中徘徊、在误区中跌跌撞撞，最终还要站起来继续前行。从这个角度来说，货得博士学位是一个很好的、痛苦的磨练过程。