Introduction to Machine Learning for Finance • Hacker News Board

Re: Introduction to Machine Learning for Finance

#31

Post by dhruva_k » Tue, Apr 20, 2021, 8:27 AM UTC

andyxor wrote: post #20

canaryyellow wrote: post #18

Earlier quoted context omitted.

Are u saying that finance books dont really help ?

finance book do help, 'ML for finance' books rarely do, the domain is too new and attracts many charlatans. You're better off just learning ML from its classics like Hastie & Tibshirani , Tom Mitchell, or Bishop PRML. And learn finance from its own classics you can find in any "financial engineering" curriculum. There is one I liked though because of hands-on approach: "Machine Learning for Algorithmic Trading" https…

I think you have to read these books with the knowledge that the strategies you find in them are not going to be the ones to make you millions. No one ever got rich reading a book and copying exactly what it told them to, otherwise we'd all have our yachts in Miami.

I personally have no issue with ML for finance books as long as they aren't just explaining rigid strategies, but more how to approach the topic of forecasting something as difficult as the financial markets. I think it's more about learning how to think when you're looking at these charts vs what is the one ML model that is going to bring me success for the rest of my life.

Re: Introduction to Machine Learning for Finance

#32

Post by arthurcolle » Tue, Apr 20, 2021, 9:12 AM UTC

92eandsa9a wrote: post #22

canaryyellow wrote: post #17

Earlier quoted context omitted.

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.

This book is great for complete non practitioners. It was such a great read in 2015 when I graduated and went to work at a large broker-dealer.

Re: Introduction to Machine Learning for Finance

#33

Post by Dopameaner » Tue, Apr 20, 2021, 8:04 PM UTC

92eandsa9a wrote: post #22

canaryyellow wrote: post #17

Earlier quoted context omitted.

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.

Thanks for the recommendations. Since, I dont work on the field as closely and mostly on a observatory capacity. Ill take a look at the recommendations.

Re: Introduction to Machine Learning for Finance

#34

Post by cung » Wed, Apr 21, 2021, 5:09 PM UTC

sooheon wrote: post #21

cung wrote: post #16

Earlier quoted context omitted.

Is there any proof of Renaissance not being just insider trading or a Ponzi scheme?

Does "Ponzi scheme" just mean "bad finance thing" now? It is impossible by definition for a fund that hasn't had inflows for 30 years to be a Ponzi scheme.

They could, for example, be buying early stage startups cheap, sell it to a friend for 3x, who sells to a VC fund for 3x, which then sells it to the public by showing huge growth.

No inflows, old investors get paid with money from new retail investors and retail investors are left with a hot potato. A Ponzi scheme.