Event: Models Behaving Badly - A Talk by Emanuel Derman
Date: May 10, 2012
Time: 6:00pm Event, 7:30pm Reception
300 Madison Avenue
New York, NY 10017
The International Association of Financial Engineers is
pleased to invite you to
Models Behaving Badly
A Talk by Emanuel Derman
Head of Risk, Prisma Partners
Professor, Columbia University
& IAFE Senior Fellow
Topics during the discussion will include:
- Metaphor, Models and Theories as Tools for Understanding the World
- What Makes a Model a Model?
- What Makes a Theory a Theory?
- Emotions as Derivatives
- The Principles of Quantitative Finance
- The Only Way To Build Valuation Models
EMANUEL DERMAN is Head of Risk at Prisma Capital Partners and a professor at Columbia University, where he directs their program in financial engineering. His latest book is Models.Behaving.Badly: Why Confusing Illusion with Reality Can Lead to Disasters, On Wall Street and in Life. He is also the author of My Life As A Quant, one of Business Week's top ten books of the year, in which he introduced the quant world to a wide audience.
He started out as a theoretical physicist, doing research on unified theories of elementary particle interactions. From 1985 to 2002 he worked at Goldman Sachs, running quantitative strategies research groups in fixed income, equities and risk management. The financial models he developed there, the Black-Derman-Toy interest rate model and the Derman-Kani local volatility model, have become widely used industry standards.