The Guardian Panel on the Piketty Phenomenon

Economists: …   The only field more self-confidently but just as regularly wrong as economics is nutrition, whose recommendations to shun butter/margarine or red meat/carbohydrates regularly reverse themselves.

POSTED — September 9, 2014 — In The Press

My Review of “The Age of Cryptocurrency”

Having observed the unsuppressable libido of capitalism, I’m inclined to think that if Bitcoin succeeds, some corporation will hijack its anarchist roots and make a lot of money the usual way.

POSTED — March 3, 2015 — In The Press

Risk Magazine Top 50 Hall of Fame

After 17 years at Goldman Sachs, Emanuel Derman decided it was time to take a break. Since leaving the firm in June, he has been writing a book and, in January, will begin teaching a course on volatility smiles at Columbia University. Derman’s book is about what it is like to be a quant. “It deals with what it’s like to move from a technical background to working with traders and sales teams,” he says. “It’s one-third quantitative in nature, one-third sociology and one-third memoir.”

Alongside Fischer Black, Derman stands out as one of the key forces behind the development of Goldman’s quantitative expertise. He was involved in a wide range of derivatives research, including ground-breaking work on the volatility smile, co-creation of the Black-Derman-Toy (BDT) interest rate model and pricing of exotics such as volatility swaps. He spent a decade as head of quantitative strategies at Goldman in New York before taking a role as managing director in firm-wide risk in 2000.

POSTED — September 9, 2013 — In The Press

Goldman Top Quant to Leave Wall Street (Derivatives Week, 2002)

Emanuel Derman, managing director and head of the quantitative risk strategies group in the firm-wide risk department in New York, is leaving Goldman Sachs next month. Derman is "one of the most prominent quantitative analysts in the options area," according to Andrew Harmstone, head of European derivatives and quantitative research at Lehman Brothers in London. Derman also won the International Association of Financial Engineers’ coveted Financial Engineer of the Year award in 2000.

POSTED — September 9, 2013 — In The Press