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Math nerds are taking over Wall Street
When you think about the typical Wall Street trader, you probably picture a fast-talking Wolf of Wall Street type. But guess what? They are rapidly being replaced by "quants" -- soft-spoken super nerds armed with high-tech software to help them beat the market. Elie Galam is one of them. Every day, the 30-year old runs 35,000 different trading strategies through software he designed to find a handful of trading ideas with a high statistical probability of making him money. "It's like seismic imaging," said the Parisian-born Galam, comparing his investing approach to the process used to find pockets of oil. "I ... (full story)
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There are those who know, and there are those who don't know.
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