Submission + - A Math Geek's Plan to Save Wall Street's Soul 1
theodp writes: "What if an aeronautics engineer couldn't reconcile his elegant design for a state-of-the-art jumbo jet with Newton's second law of motion and decided to tweak the equation to fit his design? In a way, Newsweek reports, this is what's happened in quantitative finance, which is in desperate need of reform. And 49-year-old Oxford-trained mathematician Paul Wilmott — arguably the most influential quant today — thinks he knows where to start. With his CQF program, Wilmott is out to save the quants from themselves and the rest of us from their future destruction. 'We need to get back to testing models rather than revering them,' says Wilmott. 'That's hard work, but this idea that there are these great principles governing finance and that correlations can just be plucked out of the air is totally false.'"
Training and certification, not computer program (Score:2)
Though it does include programming in the mathematical models and using an environmental simulator.
Certificate in Quantitative Finance (CQF)
The Certificate in Quantitative Finance (CQF) has been designed to provide a high-level training course for individuals working in, or intending to move into, derivatives, quantitative trading or risk management. The CQF is unique in its structured approach and commitment to the field of real-world quantitative finance. At all times in the program the emphasis is on practical implementation of techniques and on the questioning and analysis of models and methods.
The CQF program is built around a fully examined core of six modules lasting six months and covering all aspects of the theory and the practice of the tools, products, and methods. Yet this is only one part of the program, it is preceded by a mathematics refresher course, and followed by C++ programming classes, a trading simulator, and Lifelong Learning.