What quants don’t learn at college

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For the past few months, I’ve been teaching financial engineering at Columbia University, where I’ve been struck again by the difference between what can be taught in school and what can be learned on the job. Most of my quant generation arrived on Wall Street ignorant of financial theory; we began to learn its principles under the duress of having to quickly do something practical for someone on a desk. Nowadays, there’s an entire industry devoted to quant training. But in many ways

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