“I CALL IT the revenge of the nerds,” says Andrew Lo, a professor at Massachusetts Institute of Technology, and director of the university’s Laboratory for Financial Engineering. Lo is referring to the growth in demand for statisticians, mathematicians, physicists and astrophysicists from hedge funds, asset managers and banks. As one hedge fund quant employee advises a student enquiring about a future career in finance on a US website: “Forget taking economics. Stick to mathematical modelling and programming.
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