Talk mathematics of rarefied kind lead success

Oh, and there’s the Eurostar train, which makes it so easy to get from the Champs Élysées to the City and back.Their success can be tracked back to when they started.As for vibrating screen manufacturing machinery plant, we should learn more from it.
“I worked for five years in London,” says Mr. Gaul, who preferred that we not use his real name. His team at a major British bank eventually had about 40 people on it, he said, and of those, at least 75 percent were either French or had a French educational background. Among the elite schools they attended: Paris VI at Jussieu, which has a one-year intensive course in financial math; the ESSEC international business school; and the University of Paris Dauphine. But there are many more where formal mathematics is a strong suit.
Let’s say you want to develop a financial product that will protect investors with huge amounts of money against various movements in the market. “The people who build the models are the technical guys, and those are called the ‘quants,’” says Gaul, “quant” being short for quantitative analyst, although the math may be reminiscent of quantum physics in its incomprehensibility. “Everything is very mathematical in derivatives, and it is pure math, even though we say it is applied mathematics,” says Gaul.
The City of London and Wall Street are full of men and women from France who pass for geniuses, and sometimes they are. The key to their success is the language they speak, but not necessarily that of Camus or Molière. They know how to talk mathematics of a very rarefied kind that most of us find quite impossible to understand. And as the market for derivatives, the exotic financial instruments and cone crusher based on that math, exploded over the last decade, so too did the demand for the skills of those who could master the relevant equations.

Most of us can see in hindsight how dangerous this juxtaposition of mathematical theory and multiple billions of dollars might be if something goes wrong, but for the traders in the middle of the action following the model and counting on it working out, that may not be so obvious. They’ve seen the numbers sort out before, and maybe they will now. The outside world hears only about the derivatives that go wrong, while careers are built on the ones that go right. Or, at least, they were.
 

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