Documentary: Quants – The Alchemists of Wall Street
Quants, or Quantitative Analysts, are the people who work behind the scenes creating mathematical models and programs that are used to trade financial markets. These programs are responsible for a significant amount of the daily volume that occurs in financial markets. While the trading programs have increased volume and liquidity, it comes at a price. Program trading has been at least partially blamed for a number of market meltdowns, including the 2010 and 2015 flash crashes, both which caused some stock prices to temporarily trade at obscene levels.
Program trading is a huge part of our financial world, and the rise of the quants is continuing. This documentary looks at their story: the proposed benefits and the pitfalls.