Paul Wilmott is a financial consultant specializing in derivatives, risk management, and quantitative finance. He has worked with many leading US and European financial institutions. He studied mathematics at St Catherine’s College, Oxford, where he also received his DPhil. He founded the Diploma in Mathematical Finance at Oxford University and the journal Applied Mathematical Finance. He was a founding partner of the volatility arbitrage hedge fund Caissa Capital, which managed $170 million. Dr Wilmott is the proprietor of www.wilmott.com, the popular quantitative finance community website, and the quant magazine Wilmott, and he is course director for the world’s largest quant education program, the Certificate in Quantitative Finance (CQF).