Some years ago I included the name ’quant’ in a paper submitted for publication. We got it in return and was told that the paper basicaly was good for publication, but we had to remove the word ’quant’ as it was not in the english vocabuary. We did so and got it published. There are now several finance (quants) books with QUANT in their title. And "everyone" seems to want to become a quant these days (except traders).
I was at a Halloween party a few days ago (even if Halloween officially is night of October 31). Most people were dressed up in costumes, but there was a few people that looked very casual and kind of geeky-nerdy, I keep wondering if they actualy had dressed up as quants or if they were real quants? but I did not ask them as I was off-quant duty that evening.
As a Doctor I feel we still have a long way to go in quantitative finance before we get a real science, (see also Derman’s blog), to get there we will potentially need to carry out some surgery first. That is before we potentialy can take the next big step we need to accept that we have several theories that need to be replaced by something much more fundamental.