John Coates is Senior Research Fellow in Neuroscience and Finance at the University of Cambridge. He previously traded derivatives for Goldman Sachs and ran a derivatives trading desk for Deutsche Bank, New York. He developed techniques for valuing and arbitraging the tails of probability distributions. After returning to Cambridge he ran a series of experiments in the City designed to show how traders’ physiology affects their profitability. His research now focuses on the physiology of gut feelings; the ability of humans to compete against Black Boxes; the differences in styles of risk taking between men and women; and the ways in which our physiology can contribute to irrational exuberance and pessimism. His book, The Hour Between Dog and Wolf,was recently published by Penguin.