PAUL WILMOTT is a researcher, best-selling author, and consultant in most things quantitative, and has been a fund manager and academic. He is author of numerous books, including Paul Wilmott on Quantitative Finance and Frequently Asked Questions in Quantitative Finance. DAVID ORRELL is an applied mathematician, best-selling author and founder of Systems Forecasting, a scientific consultancy. He is the author of many books, including The Future of Everything and Economyths.

"Anyone interested in investment theory (and that should be everyone working in financial services) would find it worth reading."  (International Investment, June 2017)"Irrevent and fun, it is at the same time very rigorous in explaining how soem fairly basic mathematics has hijacked the world of finance."  (Marketing Moving, June 2017)“a great description of what has happened, a thorough explanation of what is currently going on, and a solid argument for what should be done in the future.” (Significance, April 2018)

• Acknowledgements ixAbout the Authors xiIntroduction xiiiChapter 1 Early Models 1Chapter 2 Going Random 15Chapter 3 Risk Management 35Chapter 4 Market Makers 61Chapter 5 Deriving Derivatives 83Chapter 6 What Quants Do 109Chapter 7 The Rewrite 135Chapter 8 No Laws, Only Toys 149Chapter 9 How to Abuse the System 169Chapter 10 Systemic Threat 189Epilogue: Keep it Simple 207Bibliography 227Index 237

PAUL WILMOTT is a researcher, best-selling author, and consultant in most things quantitative, and has been a fund manager and academic. He is author of numerous books, including Paul Wilmott on Quantitative Finance and Frequently Asked Questions in Quantitative Finance. DAVID ORRELL is an applied mathematician, best-selling author and founder of Systems Forecasting, a scientific consultancy. He is the author of many books, including The Future of Everything and Economyths.

"Anyone interested in investment theory (and that should be everyone working in financial services) would find it worth reading."  (International Investment, June 2017)"Irrevent and fun, it is at the same time very rigorous in explaining how soem fairly basic mathematics has hijacked the world of finance."  (Marketing Moving, June 2017)“a great description of what has happened, a thorough explanation of what is currently going on, and a solid argument for what should be done in the future.” (Significance, April 2018)

• Acknowledgements ixAbout the Authors xiIntroduction xiiiChapter 1 Early Models 1Chapter 2 Going Random 15Chapter 3 Risk Management 35Chapter 4 Market Makers 61Chapter 5 Deriving Derivatives 83Chapter 6 What Quants Do 109Chapter 7 The Rewrite 135Chapter 8 No Laws, Only Toys 149Chapter 9 How to Abuse the System 169Chapter 10 Systemic Threat 189Epilogue: Keep it Simple 207Bibliography 227Index 237