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Yeah, that's some nice marketing.

Tangentially: I've heard that Nunzio Tartaglia -- despite the astrophysics background -- was basically a banker installed by MS to keep a leash on the quants at APT. He took over, pissed off Bamberger, and that set off the stat arb diaspora.

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Is there a good book of history on this? I read a bit about it on the Barton Biggs' book Hedgehogging, but there were only two chapters. I feel like Process Driven Trading Partners must have some great stories that can fill multiple books.

APT, not PDT. PDT also began as part of Morgan Stanley, but it didn't come along until much later.

I don't know of any book.

"The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution" discusses the lineage of Shaw, Tartaglia, and his predecessors briefly. I think some more academic texts on Pairs Trading and Stat Arb will mention the PDT team as well.

The only other book that covers this as far as I know is The Quants by Patterson.

Ed Thorp talks about it a little.

https://www.valuewalk.com/2016/09/1850840/

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