Scott Patterson

Evaluates the cost and consequences of high-speed trading, arguing that the development of automatic, super-intelligent trading machines is eliminating necessary human interests and compromising regulation measures.

High-Speed Traders, AI Bandits, and the Threat to the Global Financial System

Dark Pools

The Quants places the recent breakdown of the financial system within a larger context of a world ruled by intellectual hubris. Quants are quantitative analysts and this gripping narrative of brilliance and ambition follows the rise of these young maths geniuses let loose in Wall Street's candy store as they zoomed from the bottom of the Street's pecking order to its pinnacle. Their ascent was predicated on the belief that they had invented - and were fine-tuning - brilliant and impregnable computer programmes that would always outperform the market. Unfortunately, these programmes turned out to be ticking timebombs. The story actually begins in the 1950s when a successful gambler named Ed Thorp decided that skills learned at the Vegas gambling tables could be applied equally successfully to the financial markets. He soon acquired followers and imitators and over the next few decades they assumed positions of ever-greater power and influence. Eccentric, brilliant, often larger than life, they achieved extraordinary success and massive wealth. The Quants follows them from boom to bust, explaining why they were so self-confident, and why they got it so disastrously wrong.

How a Small Band of Maths Wizards Took Over Wall Street and Nearly Destroyed it

The Quants

how a small band of math wizards took over Wall St. and nearly destroyed it

The quants

A Wall Street Journal bestseller Written by a veteran Wall Street Journal reporter, this is a fascinating deep dive into the world of billion-dollar traders and high-stakes crisis predictors who strive to turn extreme events into financial windfalls. There’s no doubt that our world has gotten more extreme. Pandemics, climate change, superpower rivalries, cyberattacks, political radicalization—virtually, everywhere we look there is mayhem bearing down on us, putting trillions of assets at risk. And at least two factions have formed around how to respond. In Chaos Kings, Scott Patterson depicts how one faction, led by Nassim Nicholas Taleb, bestselling author of The Black Swan, believes humans can never see the big disaster coming. In their view, extreme events—so-called Black Swans—while inevitable, will always catch us by surprise. In 2007, Taleb’s longtime collaborator, Mark Spitznagel, launched the Universa hedge fund, which would go on to make billions protecting investors against unforeseen chaos in the market. A second faction, which relies on complex formulas, believes looming chaos can be detected. Chief among these risk prognosticators is Didier Sornette, a colorful French mathematician who enjoys riding his motorcycle at speeds in excess of 170 miles per hour. When Sornette looks out from what he calls his Financial Crisis Observatory in Zurich, Switzerland, what he sees are Dragon Kings—punishing events that are unlikely to occur but have probabilities that can be predicted…and defended against. Which faction is right? All of our financial futures may depend on the answer.

How Wall Street Traders Make Billions in the New Age of Crisis

Chaos Kings

Written by a veteran Wall Street Journal reporter, this is a fascinating deep dive into the world of billion-dollar traders and high-stakes crisis predictors who strive to turn extreme events into financial windfalls. There’s no doubt that our world has gotten more extreme. Pandemics, climate change, superpower rivalries, cyberattacks, political radicalization—virtually, everywhere we look there is mayhem bearing down on us, putting trillions of assets at risk. And at least two factions have formed around how to respond. In Chaos Kings, Scott Patterson depicts how one faction, led by Nassim Nicholas Taleb, bestselling author of The Black Swan, believes humans can never see the big disaster coming. In their view, extreme events—so-called Black Swans—while inevitable, will always catch us by surprise. In 2007, Taleb’s longtime collaborator, Mark Spitznagel, launched the Universa hedge fund, which would go on to make billions protecting investors against unforeseen chaos in the market. A second faction, which relies on complex formulas, believes looming chaos can be detected. Chief among these risk prognosticators is Didier Sornette, a colorful French mathematician who enjoys riding his motorcycle at speeds in excess of 170 miles per hour. When Sornette looks out from what he calls his Financial Crisis Observatory in Zurich, Switzerland, what he sees are Dragon Kings—punishing events that are unlikely to occur but have probabilities that can be predicted…and defended against. Which faction is right? All of our financial futures may depend on the answer.

A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"--artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them. In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables. By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think, and that seemed, ominously, to be slipping the control of their human masters. Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.

The Rise of the Machine Traders and the Rigging of the U.S. Stock Market

Documents the contributions of a team of young math geniuses who applied Vegas strategies to Wall Street and set in motion widespread market collapses.

How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed it

Dark Pools เกมเทรดสมองกล กำเนิดจักรกลถล่มวอลล์สตรีท

Die Welt wird immer extremer: Pandemien, Klimawandel, politische Radikalisierung, religiöser Fundamentalismus – all diese Entwicklungen bedrohen Billionen an Vermögenswerten. Doch es gibt eine Gruppe von Investoren, die in dieser Umgebung erst richtig gedeiht: die Chaos Kings. Einer der berühmtesten Vertreter dieser Gruppe: Hedgefonds-Manager Mark Spitznagel und sein Universa-Fonds. Scott Patterson hatte exklusiven Zugang zu den Universa-Strategen und beschreibt, wie Spitznagel mithilfe von Nassim Nicholas Taleb sein Anlagekonzept entwickelte, wie es funktioniert und welche Gegenentwürfe es gibt. Dieses fesselnde und aufschlussreiche Buch ist ein Muss für jeden, der wissen möchte, wie einige der heutigen Investoren Katastrophen in Profit umwandeln.

Wie Wall-Street-Trader im Zeitalter der Krisen Milliarden verdienen

"Written by a veteran Wall Street Journal reporter, this is a fascinating deep dive into the world of billion-dollar traders and high-stakes crisis predictors who strive to turn extreme events into financial windfalls. There's no doubt that our world has gotten more extreme. Pandemics, climate change, superpower rivalries, cyberattacks, political radicalization--virtually, everywhere we look there is mayhem bearing down on us, putting trillions of assets at risk." --

Traditional Chinese edition of Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis

洞悉極端事件的本質, 在混沌時局發現投資機會的那群人

黑天鵝投資大師們

Build, deploy, test, and run cloud-native serverless applications using AWS Lambda and other popular AWS services Key Features Learn how to write, run, and deploy serverless applications in Amazon Web Services Make the most of AWS Lambda functions to build scalable and cost-efficient systems Build and deploy serverless applications with Amazon API Gateway and AWS Lambda functions Book Description Serverless computing is a way to run your code without having to provision or manage servers. Amazon Web Services provides serverless services that you can use to build and deploy cloud-native applications. Starting with the basics of AWS Lambda, this book takes you through combining Lambda with other services from AWS, such as Amazon API Gateway, Amazon DynamoDB, and Amazon Step Functions. You'll learn how to write, run, and test Lambda functions using examples in Node.js, Java, Python, and C# before you move on to developing and deploying serverless APIs efficiently using the Serverless Framework. In the concluding chapters, you'll discover tips and best practices for leveraging Serverless Framework to increase your development productivity. By the end of this book, you'll have become well-versed in building, securing, and running serverless applications using Amazon API Gateway and AWS Lambda without having to manage any servers. What you will learn Understand the core concepts of serverless computing in AWS Create your own AWS Lambda functions and build serverless APIs using Amazon API Gateway Explore best practices for developing serverless applications at scale using Serverless Framework Discover the DevOps patterns in a modern CI/CD pipeline with AWS CodePipeline Build serverless data processing jobs to extract, transform, and load data Enforce resource tagging policies with continuous compliance and AWS Config Create chatbots with natural language understanding to perform automated tasks Who this book is for This AWS book is for cloud architects and developers who want to build and deploy serverless applications using AWS Lambda. A basic understanding of AWS is required to get the most out of this book.

Learn AWS Serverless Computing

Build, deploy, test, and run cloud-native serverless applications using AWS Lambda and other popular AWS services Key Features Learn how to write, run, and deploy serverless applications in Amazon Web Services Make the most of AWS Lambda functions to build scalable and cost-efficient systems Build and deploy serverless applications with Amazon API Gateway and AWS Lambda functions Book Description Serverless computing is a way to run your code without having to provision or manage servers. Amazon Web Services provides serverless services that you can use to build and deploy cloud-native applications. Starting with the basics of AWS Lambda, this book takes you through combining Lambda with other services from AWS, such as Amazon API Gateway, Amazon DynamoDB, and Amazon Step Functions. You’ll learn how to write, run, and test Lambda functions using examples in Node.js, Java, Python, and C# before you move on to developing and deploying serverless APIs efficiently using the Serverless Framework. In the concluding chapters, you’ll discover tips and best practices for leveraging Serverless Framework to increase your development productivity. By the end of this book, you’ll have become well-versed in building, securing, and running serverless applications using Amazon API Gateway and AWS Lambda without having to manage any servers. What you will learn Understand the core concepts of serverless computing in AWS Create your own AWS Lambda functions and build serverless APIs using Amazon API Gateway Explore best practices for developing serverless applications at scale using Serverless Framework Discover the DevOps patterns in a modern CI/CD pipeline with AWS CodePipeline Build serverless data processing jobs to extract, transform, and load data Enforce resource tagging policies with continuous compliance and AWS Config Create chatbots with natural language understanding to perform automated tasks Who this book is for This AWS book is for cloud architects and developers who want to build and deploy serverless applications using AWS Lambda. A basic understanding of AWS is required to get the most out of this book.

A beginner's guide to using AWS Lambda, Amazon API Gateway, and services from Amazon Web Services

Join Shaklee and Amway, two enterprising aliens hell-bent on selling moonshine to the outer worlds. Towed into low Earth orbit, their penniless campaign immediately collides with human ambition and downhome hillbilly charm. Chief among their opposition is the new president-elect, a genuine backwoods Tennessee boy aided by his girlfriend from the stars. It's a silly, improbable tale of human folly and extraterrestrial nonsense.

Scott Patterson

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