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Great question! Does Renaissance Technologies count as ML? I honestly don't know where the line between quantitative/algorithmic and ML is - I suspect it's blurry.
Is there any proof of Renaissance not being just insider trading or a Ponzi scheme?
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Working in the field (HFT market maker) and agree with this assessment. The book is pretty useless in practice - it's basically a vehicle of self promotion for his academic career.
What books would u recommend from ur experience? That aren't self promotion
What are the great successes of machine learning in finance?
Great question! Does Renaissance Technologies count as ML? I honestly don't know where the line between quantitative/algorithmic and ML is - I suspect it's blurry.
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way overrated imo, you will learn neither finance nor ML from this book, don't spend your money on this. Given author's tendency for excessive self-promotion I would take any of his advice with a grain of a salt. Besides he seems to have lost a ton of money for AQR, given his short tenure there. People who make money rarely publish. if someone is really interested in finance and ML learn each on its own, in finance s…
Working in the field (HFT market maker) and agree with this assessment. The book is pretty useless in practice - it's basically a vehicle of self promotion for his academic career.
i would say that a full ~25% of technical books are this - solely for the purposes of building brand rather than communicating effectively.
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Great question! Does Renaissance Technologies count as ML? I honestly don't know where the line between quantitative/algorithmic and ML is - I suspect it's blurry.
Is there any proof of Renaissance not being just insider trading or a Ponzi scheme?
The kind of returns RenTech took, it would have to be a highly elaborate insider trading and why would a bunch of scientists want to waste their time on that ?
The only thing “wonky” about RenTech was Bob Mercer’s personal political views but despite that I would still consider Bob Mercer to be a very intelligent/scientific person.
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What books would u recommend from ur experience? That aren't self promotion
"Trading and Exchanges: Market Microstructure for Practitioners" is a good introductory book that covers how markets work on a high level. It doesn't teach you how to build profitable systems. That you won't find anywhere anyway.
http://www.acsu.buffalo.edu/~keechung/MGF743/Readings/Tradin...
Also a weird book-like slide set that explains what the book is about (and the very important concepts/market participants):
https://rkbookreviews.files.wordpress.com/2013/12/trading-an...
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Advances in Financial Machine Learning by Marcos Lopez de Prado is one of the best books i read last year. Especially on back testing, strategy risk are my fav.
way overrated imo, you will learn neither finance nor ML from this book, don't spend your money on this. Given author's tendency for excessive self-promotion I would take any of his advice with a grain of a salt. Besides he seems to have lost a ton of money for AQR, given his short tenure there. People who make money rarely publish. if someone is really interested in finance and ML learn each on its own, in finance s…
Anyone have any good books I can read to learn a bit more about this sort of application? I really like the finance stuff, feels like a natural marriage with DS and ML. I don't know nearly enough to expand on what I mean.
Anyone have any good books I can read to learn a bit more about this sort of application? I really like the finance stuff, feels like a natural marriage with DS and ML. I don't know nearly enough to expand on what I mean.
What are the great successes of machine learning in finance?
I'm constantly looking at this from the view that I'm not looking to build an ML model that is going to give me a direct prediction of future prices, but instead to break this down into different components. If I feed a bunch of stats about a country, can an algo return a figure for the overall health of that economy, for example.