The White Swan’s «… Quants …» AND «… Qualts …» by Mr. Andres Agostini at https://lifeboat.com/blog/2014/04/white-swan

What is a Quant?

A quant is brand of industrial scientist and engineers who applies mathematical model of uncertainty to financial and/or socioeconomic data and complex financial instruments. And a person who also studies the flaws and the limits of these models, understanding that there is a point of breakdown …. A quant has a combined background of applied mathematics, engineering and statistics. A quant spreads the usage of artificial intelligence in today’s markets …. Whether he or she acknowledges it or not, the quant is extremely AWARE of the many critical short-comings of many quantitative strategies (as he is never interested in qualitative analytics), such as their tendency to lead to crowded trades and their underestimation of the likelihood of chaotic, volatile moves in the markets …. Along with Central Bank chairpersons and world’s finance ministers, quants are the first ones to “…elicit…” that the global economy is being “ …affected…” by “ …systemic risks…”, that systemic risk turbo-charged by several corrupted politicians, manipulative economists and beautiful quants that never understand what the tangible corporate theater of operations is.

Industrial engineering, partly used by so-called Quants, is a branch of engineering dealing with the optimization of complex processes or systems. It is concerned with the development, improvement, implementation and evaluation of integrated systems of people, money, knowledge, information, equipment, energy, materials, analysis and synthesis, as well as the mathematical, physical and social sciences together with the principles and methods of engineering design to specify, predict, and evaluate the results to be obtained from such systems or processes. Its underlying concepts overlap considerably with certain business-oriented disciplines such as operations management. Black Swans are the brainchildren of quants.

And then:

What is a Qualt?

A qualt is brand of systems engineering who applies mathematical and ESPECIALLY non-mathematical models of uncertainty to financial and ESPECIALLY non-financial data and complex industrial operations. And a person who also studies the errors, the flaws and the limits of these qualitative models, understanding that there is a point of (i) inflection and (ii) Event horizon, in anything pursued by the for-lucre corporations …. A qualt has a combined background of advanced management, extreme project management (Agile) and systems engineering. A qualt spreads the usage of most-advanced business analytics and transformative and integrative risk management …. Whether he or she acknowledges it or not, the qualt is extremely AWARE of the many critical short-comings of many quantitative strategies and works hard at it advance to eliminate every form of downside through qualitative strategies …. For instance, qualts know that “…systemic risks …” are direct brainchildren of (a) Ignorance, (b) Manipulation, © Greed and (d) Corruption.

Systems engineering, hugely embraced by Qualts, is an interdisciplinary field of engineering that focuses on how to design and manage complex engineering projects over their life cycles. Issues such as reliability, logistics, coordination of different teams (requirements management), evaluation measurements, and other disciplines become more difficult when dealing with large or complex projects. Systems engineering deals with work-processes, optimization methods, and risk management tools in such projects. It overlaps technical and human-centered disciplines such as control engineering, industrial engineering, organizational studies, and project management. Systems Engineering ensures that all likely aspects of a project or system are considered, and integrated into a whole. White Swans are the brainchildren of Qualts.

Read the entire piece at https://lifeboat.com/blog/2014/04/white-swan

Mr. Andres Agostini
The Lifeboat Foundation Worldwide Ambassador at https://lifeboat.com/ex/bios.andres.agostini
The «… The Human Race to the Future …» Worldwide Ambassador at http://amzn.to/19H3qf0 AND at http://amzn.to/1cujxeG
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