The French Connecton

THE FRENCH CONNECTION

1. Volatility- likely to become dangerous or out o control.

2. Unassailable- not able to be doubted, attacked, or questioned.

3. Rapt- showing complete interest in something.

4. Flunk out- to be dismissed from a school or college for failure.

5. Rap- a sharp blow or knock.

6. Proliferation- to increase in number or amount quickly.

7. Esoteric- limited

8. Infallibly- not capable of being wrong.

9. Hedge- something that provides protection or defense.

10. Stochastic- random

11. Schoolmarm- a woman who teaches in a school in a small town or in the country.

12. Tutelage- the teaching of an individual student by a teacher.

13. Purportedly- said to be true or real but not definitely tru or real.

14. Rogue- a man who is dishonest or immoral.

15. Allegedly- accused of having done something wrong or illegal but not yet proven guilty.

16. Bane- source of harm or ruin.

Many people are interested in Mathematics but only few are able to survive studying it. They see it as a difficult matter to deal with; in fact, they call the students who are so in love with it as geniuses. In France, there are lots of quantitative analysts, quants for short. They are the ones that develop financial products and every time there is loss in the market, the first people they will suspect are them. Whenever the news flash that billions of dollars have been lost, every eyes are on them. People opt to blame them when they do not even know the real reason of the shortfall. That is one of the biggest problems before, the lack of knowledge. But contrary to it, another problem concerning the quants is that they tend to complicate complicated things. Instead of producing a simpler product, they are fonder of making very complex ones. And the incapability to listen, they have been warned by their professor Nicole El Karoui that they are high on risk and volatility if they continue to do such exotic financial...