stochastics and statistics?

hey, have a few questions that i hope you guys can help me out with:

stochastics vs. statistics - which is used more in s&t?

does it depend on the product (i.e. stochastics used more in derivs) or on the role (pricing and risk mgmt quants)?

if i wanted to trade, would a stronger statistics background be more useful than a stochastics one?

i mean, i've always heard stochastics bandied around as if it was the be all end all in s&t. if the random walk theory is correct, there shouldn't be a way to make money without assuming additional risk. but apparently, some of the people profiled in market wizards are doing just that.

thoughts?

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