[pumpkinattwelve]

This was pure gambling. Unless he statistically did the sums (nothing mentioned in the article), this was pure and simple gambling (probably going off candlestick trading which is big in Japan). In the finance world, this is also called dumb money.

Remember kids, there are two types of traders:

  1. Quants

  2. Gamblers

Know which one you are.

[antr]

From your generalisation we can then say that LTCM falls under "Quants", and Warren Buffet under "Gamblers".

[seanmcdirmid]

Warren buffet is definitely a quant (he does his homework) even if he doesn't use heavy duty math (though I'm sure he has access to that).

[antr]

Then you are using the wrong term. Value investors (those who use models such as DCF and DDM) are not considered 'quants' in the investment community. My point is, quants can be speculators too (and more often than not they are). I just wanted to point out (in a somewhat pedantic manner) that the above comment is just a random comment, without any substance.

[_random_]

3. The ones who use inside information.

[ramblerman]

Put lipstick on a pig it's still a pig.

Gamblers come in various forms, some like the thrill, some make informed wagers and some use inside information. Not sure what makes a 'Quant' so different.