Prof. Salih Neftci (1947-2009)

[Peter]

In case you haven't heard the news, Professor Neftci passed away yesterday in Geneva.

Professor Salih Neftci was born in Kirkuk from a family connected with oil fields but that had themselves emigrated from Turkmenistan... and he made his way to the highest circles of Istanbul, NY, London. He completed his PhD at the University of Minnesota and subsequently taught at George Washington University and at Columbia University where he was an adjunct professor. He maintained close links with US academia and Wall St., throughout his life through his full professorship at the Graduate School, City University of New York (CUNY).
He became best known for his book An Introduction to the Mathematics of Pricing Financial Derivatives - which became a standard text in many university derivatives courses. He was one of the most productive researchers in financial economics and taught in the areas of numerical methods in asset pricing, the mathematics of financial derivatives, emerging market asset trading strategies and advanced risk management.

I found his book on stochastic calc and thumbed through it. I was so impressed with how clear and intuition based his pedagogy was that I did a Google search on his name to find out where he taught. That's actually how I found out about Baruch. I didn't know he wasn't teaching here at the time, but I figured that any place this man teaches at would be a place of great learning and education (and I was right). Sadly, I never got a chance to take a class from this man.

Something else must be said about someone who can make such a good living in such a lucrative field and STILL be involved in education. Teaching + career is just as difficult as student + career. The man obviously educated because he enjoyed doing so. That makes his passing an even sadder tragedy for our field.

I would have at least liked to thank him for writing such wonderful books on mathematical finance.

[maxrum]

Very sad news... :(

[AmericanBilly]

He was awesome. Extremely charismatic and brilliant. Very sad news indeed.

[Yan He]

This is truly sad news. He is very intereting and I do enjoy his lectures and classes. So Sad.

[Andy]

This is shocking and very sad news indeed. Prof Neftci has been involved with the Baruch program for years. I took his calibration course in 2007 at Baruch and came to know him as a very humble, down to earth person.
It is a big loss and my prayers go to his family.

[alain]

This is very sad news. Prof. Neftci was an excellent professor and very good communicator. I have very good memories from his class.

Thanks to him and his recommendation, I use a Tablet PC as my main computer.

I want to extend my deepest sympathies to his family.

[Andy]

I remember his lectures were full of laughes. He was fond of Shanghai and took any opportunity to speak in Chinese with the students.

[maxrum]

His new book is scheduled to be published in June 2009. I hope it's done and we will be able to read it.

[dstefan]

Salih was a brilliant man and a very warm and vibrant person. A wonderful educator who changed people's lives. May He rest in peace.

[Yan He]

Did you confirm this news?

[dstefan]

Sadly, yes. It is also in all the Turkish newspapers already.

[Sanket Patel]

It's unfortunate that I never got a chance to meet Professor Neftci. After reading his books and speaking to students who took his course has Baruch, I really hoping to get a chance to study under Professor Neftci.

It was in fact Professor Neftic's book, The Mathematics of Financial Derivatives, that first piqued my interest in the field. I extend my sympathies to the Neftci family.

[Eddie]

It's always sad to hear someone's passed away,
It's particular sad to hear someone you know passed away, someone who's rich in knowledge and with a vibrant character.
I can't describe my sorrow when hearing this bad news ...

[John]

Taking Professor Neftci's class was one of the highlights of my MFE education @ Baruch. His classes were always entertaining and full of wits. He had an uncanny ability to make seemingly complex subjects accessible. Professor Neftci, RIP.

[Tae-woo]

It's a very sad news. I really hoped to see Professor Neftci directly and to take his class. It was his book to take me to the financial world. I extend my sympathies to his family.

[dcuddihy]

...Terrible news. In his class I got the first taste of how this quantitative finance stuff really works: What's the intuition, how does that manifest in a rigorous model, where do models break, etc. All delivered with his inimitable wit and style. (Though imitate we did often try -- Mr. Gierymski in particular!)

For those of you who've never had the experience (and for those who have), here's a Neftci talk from a little over a year ago:

http://fora.tv/2008/02/12/Credit_Cri..._Credit_Crisis


He'll be missed and remembered.

[majorcoleman]

I first saw Neftci in the hallways in 2004 but did not know who he was. He would wear all black, a leather jacket, and had a thick black beard, I was intimidated. Then in 2005 on the first day of my calibration class he walks in as the Professor! I was nervous for this intimidating man to teach such a difficult sounding topic. About 25mins into the class I though he was one of the nicest and most humble of people, with a great sense of hummor. I shamefully laughted to myself that I had been scarde of such a nice guy.

Neftci went out of his way to help people because he enjoyed seeing his students succeed. The second week of class he took several students along on some of his high end consulting jobs and introduced them as his "expert assistants."

His intellect, jokes, and helpfulness will be missed.

[dstefan]

Thank you for the clip, Dave. Salih will be sorely missed.

[pkpos]

Regrettably often we hear a man's accolades only when he is no longer with us. Professor Neftci is unique in that regard; he was acclaimed in life as I am certain he will be in death, and rightfully so, because he possessed the rare gift that makes a teacher great: the ability to distill the abstract into the concrete.


It was a privilege to hear his lectures and read his books. Thank you, Professor Neftci. Rest in peace.

[mly]

It is written that every living soul must go.... In Pr. Salih Neftci's case, this departure is indeed a terrible loss to humanity. Pr. Neftci's teachings, writings, and advices have undoubtedly touched, VERY POSITIVELY, many careers, many lives and many families. And will continue to do so. It is my hope that the Financial Engineering world, that he lovingly helped create and stand, with personal dedication and fierce intellectual integrity will ensure that Neftci will never be forgotten. RIP professor.

[maciek]

This is very sad news. Prof Neftci was a great lecturer. I will never forget when during the calibration class he first wrote a complex formula for local volatility, and then he rewrote the same formula in pictures and charts. This was understandable to anyone, even with very limited knowledge of maths. He could explain complex problems in a very simple and still correct way. He was amazing.

[Claudia]

This is from my coworker who graduated from New School:



Please join us in an informal memorial and toast for the late, great Dr. Salih Neftci.

Wednesday, April 29th
6pm - ???

Bryant Park Cafe
(closer to) 42nd Street btwn 5th and 6th Avenues
Inside Bryant Park --- outdoor patio if weather is nice
212-840-6500

No RSVP necessary.

Please tell your friends and colleagues.

Contact: Alexei ( alexei.a.vinogradov@gmail.com) or Jessica ( akinyc@gmail.com) with questions.

[RussianMike]

It was really sad to hear about Prof. Neftci's passing. He was a wonderful professor full of life and character. It was amazing how he could convey complex ideas in a clear and understandable way. Rest in Peace professor.

[bob]

His classes were a feast of ideas spiced with his sharp wit. It's sad and shocking that we've lost his voice so soon.

[Emira]

Very sad news to hear it. I had a chance to meet him and listen his presentation. He was a wonderful speaker. I extend my deepest sympathies to his family.