What are the challenges for today's quant traders? Advanced Trading editor-in-chief Phil Albinus spoke with Dr. Paul Wilmott, a quant expert, professor and author based in London, who reveals all the dirty secrets. Wilmott, head of 7city Learning's quants faculty and course director for the training firm's Certificate in Quantitative Finance (CQF) program, says nearly all risk models have a basic flaw, regulators get no respect, and quant traders often bully them or fudge numbers to hide their true risk exposure.
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