Quants explained for Wiley

Wiley Europe has acquired exclusive UK and Commonwealth rights to Models.Behaving.Badly by Emanuel Derman, in a deal struck with Max Brockman of Brockman Inc.

The book is about quants—the physicists working on Wall Street as quantitative analysts—who have been widely blamed for triggering the recent financial crisis with their complex mathematical models.

Derman is a former head quant at Goldman Sachs, now a professor at Columbia University, and his book, subtitled How Confusing Illusion with Reality Can Lead to Disasters is billed as a "penetrating insider's look at the recent economic collapse".

The Black Swan author Nassim M Taleb dubbed the book "exceedingly readable" and Wiley will publish in hardback on 25th October.