Traders Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives - Satyajit Das

“Look, it’s quite simple,” I said, breaking down the hierarchy of the trading floor. “There are sales people – they lie to clients. Traders lie to sales and to risk managers. Risk managers? They lie to the people who run the place – correction, think they run the place. The people who run the place lie to shareholders and regulators.” “Oh yes,” I remembered our quantitative colleagues. “I forgot the quants – our fabulous rocket scientists! When last heard from, they were trying to develop a model for lying.” “And clients?” One of the trainees asked tentatively. I thought about it for a few seconds. “Clients. They lie mainly to themselves!” Entering the world of derivatives trading is to enter this world of beautiful lies.  

język

angielski