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Pastimes : Dispatches from the Ivory Tower
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From: TimF1/21/2009 6:05:15 PM
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Emmanuel Derman put it well in "My Life as a Quant" (a great book BTW for us science and math types):

"Ten years later, as a postdoctoral researcher at Oxford in 1976, I experienced a minor epiphany about ambition's degradation. At age 16 or 17, I had wanted to be another Einstein; at 21, I would have been happy to be another Feynman; at 24, a future T.D. Lee would have sufficed. By 1976, sharing an office with other postdoctoral researchers at Oxford, I realized that I had reached the point where I merely envied the postdoc in the office next door because he had been invited to give a seminar in France. In much the same way, by a process options theorists call time decay, financial stock options lose their potential as they approach their own expiration”.

meganmcardle.theatlantic.com
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