It’s all Greeks to me


Recently, I received the letter reprinted below.

Dear Mr Derman,

You are always writing about the difficulty of being a good quant, but it’s not that hard. Read please my story and don’t be so serious!

I have come to New York with a PhD from ********. Quickly, I answered an internet ad by a chasseur de tête who sent me to a foreign bank. Two interviews and I aced them all. A week later, I’m on the desk. “Dude, you are getting a Dell!” I say to myself.

With my scientific PhD, I find

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