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Exchange traded funds (EFTs) are huge business in the US, forcing the traditional mutual funds sector on to the back foot. This revolution is now starting here in the UK, with a concerted market push by the index fund providers. This book addresses the ETF the revolution, explaining how to run a modern portfolio.
Trade you way to financial success! Are you tired of playing the "buy-and-hope" game with your stocks? Savvy stock trader Toni Turner shows you the ins and outs and ups and downs of short-term trading. You'll learn how to buy and sell stocks on a monthly, weekly, or even daily basis, so you can own the right stocks at the right time. Turner's clear, common-sense advice, easy-to-follow explanations, and helpful examples will help you invest in the exciting and profitable world of short-term trading quickly and safely. In this revised edition, you'll get completely up-to-date information on: New products such as ETFs and expanded coverage on sector investing Resources for choosing an online broker New SEC (Securities and Exchange Commission) rules and regulations Updated charts and graphs with current examples A Beginner's Guide to Short-Term Trading is the hands-on book designed to get you actively involved in every step of the trading process. Now you can take control of your portfolio and secure the financial freedom you've always dreamed of. Start planning your trades today!
The Online Trading Cookbook is a unique resource for busy online traders of all levels, addressing the need amongst the growing number of those trading and investing from home for solid, low risk trading strategies which they can incorporate into a busy lifestyle. Suitable for all levels of retail trader and is supplemented by useful advice on the best trading tools, websites and brokers, the different markets available to trade, tips on risk and money management. The book is divided into sections based on levels of complexity and contains specific strategies used by profitable hedge funds as well as strategies used by other professionals, all of which can be implemented by private investors. The opening chapter discusses the professional tools traders will need, from multi-screen hardware, best websites, trading software, data services, brokers, trading products and the types of traders suited to each type of trading. The following chapters give concise novice, intermediate and advanced strategies for short and long term traders. The cookbook format is one of the most popular for teaching complicated subjects. Trading skills are presented and learnt as simply as recipes. This book provides exactly that from trading strategies to risk and money management. Each page presents as ingredients what the trader needs to do, the tools and the preparation with successful examples illustrated on the facing page. Both the proven format and its simplicity are compelling and unique in their application to trading. Written by two celebrated experts in the field, The Online Trading Cookbook is the perfect starting point for anyone wishing to learn to trade or for advanced traders wishing to further their knowledge.
For courses in options, futures, and derivatives. To be financially literate in today's market, business students must have a solid understanding of derivatives concepts and instruments and the uses of those instruments in corporations. The Third Edition has an accessible mathematical presentation, and more importantly, helps students gain intuition by linking theories and concepts together with an engaging narrative that emphasizes the core economic principles underlying the pricing and uses of derivatives. The third edition has been updated to include new data and examples throughout.
"BRICs and Beyond" is an international business executive text written especially for executive and MBA students. It is based on extensive consulting in emerging economies and several years of experience teaching executive MBA courses around the globe. The author has continually faced the problem that the available textbooks for teaching international business focused almost exclusively on examples of Western multinationals for case illustrations. In the process of preparing cases nearer to the emerging market she worked in, the author realized that the often fascinating, frequently insightful and always different approach to business illustrated by these cases should be required reading for MBA students in typical Western environments too.
With its wide range of current case illustrations and concise summaries this is a new-generation text that will welcome today's MBA student to the wider world of 21st century international business.
." . . this book is needed not only because it looks at business from the BRICs points of view; it also looks at business from the point of view of tomorrow's business leaders and the challenges that they will have to cope with." --Professor Jonathan Gosling, Centre for Leadership Studies, and co-founder, The One-Planet MBA, the University of Exeter, UK
." . . Stephanie Jones advises Western businesses on doing business in emerging economies in a refreshingly straightforward manner, integrating in a novel way her three decades of global, practical experience with the daily barrage of reporting on the BRICs--distilling from these many lessons and principles. . ." --Extracted from the Foreword, by Professor Wim Naude, Director of Research, Maastricht School of Management
Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. "Fixed Income Securities, Third Edition" by Bruce Tuckman and Angel Serrat is designed to balance these three objectives. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail.
The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims. Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities.
"Fixed Income Securities, Third Edition" is full of examples, applications, and case studies. Practically every quantitative concept is illustrated through real market data. This practice-oriented approach makes the book particularly useful for the working professional.
This third edition is a considerable revision and expansion of the second. Most examples have been updated. The chapters on fixed income options and mortgage-backed securities have been considerably expanded to include a broader range of securities and valuation methodologies. Also, three new chapters have been added: the global overview of fixed income markets; a chapter on corporate bonds and credit default swaps; and a chapter on discounting with bases, which is the foundation for the relatively recent practice of discounting swap cash flows with curves based on money market rates.
This university edition includes problems which students can use to test and enhance their understanding of the text.
"The Financial Times Handbook of Financial Engineering "clearly explains the tools of financial engineering, showing you the formulas behind the tools, illustrating how they are applied, priced and hedged.
All applications in this book are illustrated with fully-worked practical examples, and recommended tactics and techniques are tested using recent data.
When companies suffer a dramatic even catastrophic drop in their share price, it is the investors who lose their shirts and employees their jobs. But often, a company's published accounts offer clues to impending disaster, providing you know where to look.
Through the forensic examination of more than 20 recent stock market disasters, Tim Steer reveals how companies hide or disguise worrying facts about the robustness of their business. In his lively style, he looks at the themes that underlie the ways companies hide the truth and he stresses that in an assessment of a company's accounts, investors should always bear in mind that the only fact is cash; everything else - profit, assets, etc - is a matter of opinion. Full of invaluable lessons for investors, the book concludes with some trenchant observations on what is wrong in the worlds of investment, audit and financial regulation, and what changes should be introduced.
John C. Bogle shares his extensive insights on investing in mutual funds
Since the first edition of "Common Sense on Mutual Funds" was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Now, in this completely updated "Second Edition, " Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them.
Written in a straightforward and accessible style, this reliable resource examines the fundamentals of mutual fund investing in today's turbulent market environment and offers timeless advice in building an investment portfolio. Along the way, Bogle shows you how simplicity and common sense invariably trump costly complexity, and how a low cost, broadly diversified portfolio is virtually assured of outperforming the vast majority of Wall Street professionals over the long-term.Written by respected mutual fund industry legend John C. BogleDiscusses the timeless fundamentals of investing that apply in any type of marketReflects on the structural and regulatory changes in the mutual fund industryOther titles by Bogle: "The Little Book of Common Sense Investing" and "Enough."
Securing your financial future has never seemed more difficult, but you'll be a better investor for having read the "Second Edition" of "Common Sense on Mutual Funds."
An updated look at best rules of investing provided by two of the world's greatest financial thinkers
In the updated edition of "The Elements of Investing, " authors Charles Ellis and Burton Malkiel--two of the world's greatest financial thinkers--have again combined their talents to produce a straight-talking book about investing and saving. Written with every investor in mind, this reliable resource will put you on a path towards a lifetime of financial success.
Page by page, Malkiel and Ellis skillfully focus their message to address the essentials and offer a set of simple, but powerful thoughts on how to avoid Mr. Market and his "loser's game," and instead enjoy the "winner's" approach to investing. All the investment rules and principles you need to succeed are here--with clear advice on how to follow them.Shows you how to focus on the long term instead of following market fluctuations that are likely to lead to costly investing mistakesContains investment insights that can carry you all the way to, and through, retirementWritten by Burton G. Malkiel, the bestselling author of "A Random Walk Down Wall Street, " and Charles D. Ellis, the bestselling author of "Winning the Loser's Game"
A disciplined approach to investing, complemented by understanding, is all you need to enjoy success. This practical guide explains what you really need to know and puts you on the right course for long-term success through all kinds of markets.
World-leading experts and specialists identify ways to enable growth in the investment management industry, post-crisis. Contributions by influential academics and executives collected in an edited volume, answering the most important questions facing the industry today on how to recover and grow after the meltdown.
How silver influenced two hundred years of world history, and why it matters today This is the story of silver's transformation from soft money during the nineteenth century to hard asset today, and how manipulations of the white metal by American president Franklin D. Roosevelt during the 1930s and by the richest man in the world, Texas oil baron Nelson Bunker Hunt, during the 1970s altered the course of American and world history. FDR pumped up the price of silver to help jump start the U.S. economy during the Great Depression, but this move weakened China, which was then on the silver standard, and facilitated Japan's rise to power before World War II. Bunker Hunt went on a silver-buying spree during the 1970s to protect himself against inflation and triggered a financial crisis that left him bankrupt. Silver has been the preferred shelter against government defaults, political instability, and inflation for most people in the world because it is cheaper than gold. The white metal has been the place to hide when conventional investments sour, but it has also seduced sophisticated investors throughout the ages like a siren. This book explains how powerful figures, up to and including Warren Buffett, have come under silver's thrall, and how its history guides economic and political decisions in the twenty-first century.
Written by the Founder and CEO of the prestigious New York School of Finance, this book schools you in the fundamental tools for accurately assessing the soundness of a stock investment. Built around a full-length case study of Wal-Mart, it shows you how to perform an in-depth analysis of that company's financial standing, walking you through all the steps of developing a sophisticated financial model as done by professional Wall Street analysts. You will construct a full scale financial model and valuation step-by-step as you page through the book. When we ran this analysis in January of 2012, we estimated the stock was undervalued. Since the first run of the analysis, the stock has increased 35 percent. Re-evaluating Wal-Mart 9months later, we will step through the techniques utilized by Wall Street analysts to build models on and properly value business entities. * Step-by-step financial modeling - taught using downloadable Wall Street models, you will construct the model step by step as you page through the book. * Hot keys and explicit Excel instructions aid even the novice excel modeler. * Model built complete with Income Statement, Cash Flow Statement, Balance Sheet, Balance Sheet Balancing Techniques, Depreciation Schedule (complete with accelerating depreciation and deferring taxes), working capital schedule, debt schedule, handling circular references, and automatic debt pay downs. * Illustrative concepts including detailing model flows help aid in conceptual understanding. * Concepts are reiterated and honed, perfect for a novice yet detailed enough for a professional. * Model built direct from Wal-Mart public filings, searching through notes, performing research, and illustrating techniques to formulate projections. * Includes in-depth coverage of valuation techniques commonly used by Wall Street professionals. * Illustrative comparable company analyses - built the right way, direct from historical financials, calculating LTM (Last Twelve Month) data, calendarization, and properly smoothing EBITDA and Net Income. * Precedent transactions analysis - detailing how to extract proper metrics from relevant proxy statements * Discounted cash flow analysis - simplifying and illustrating how a DCF is utilized, how unlevered free cash flow is derived, and the meaning of weighted average cost of capital (WACC) * Step-by-step we will come up with a valuation on Wal-Mart * Chapter end questions, practice models, additional case studies and common interview questions (found in the companion website) help solidify the techniques honed in the book; ideal for universities or business students looking to break into the investment banking field.
Model-free Hedging: A Martingale Optimal Transport Viewpoint focuses on the computation of model-independent bounds for exotic options consistent with market prices of liquid instruments such as Vanilla options. The author gives an overview of Martingale Optimal Transport, highlighting the differences between the optimal transport and its martingale counterpart. This topic is then discussed in the context of mathematical finance.
Hilarious advice on what NOT to do with money, from financial funny man Ben Stein Everyone's searching for the secrets to financial success, but what about the best ways to lose money . . . fast?! In How To Really Ruin Your Financial Life and Portfolio, bestselling author, economist, financial commentator, and media personality Ben Stein explains exactly what to do . . . to go bust! The ultimate "how-NOT-to" guide, the book gives readers invaluable tips that should be avoided at all costs. Written in Stein's own inimitable style, this hilarious guide provides essential financial advice on what not to do when it comes to managing money. From reading and acting upon investing newsletters to trading on a margin, from investing in bonds to breathlessly following CNBC, and from buying stock in firms you do not understand to believing in your own genius at stock picking to keeping as little cash on hand as possible, Stein presents the rules that every would-be investor needs to know, so they can do the exact opposite and actually make money. Fully revised and updated, this new edition presents all-new missteps that can destroy any portfolio. Fully revised and updated edition of the tongue-in-cheek bestseller that shows investors what not to do with their money Written by acclaimed author economist, financial commentator, and media personality Ben Stein Loaded with indispensable pieces of bad advice that readers should avoid at all costs A laugh-out-loud approach to personal finance, How To Really Ruin Your Financial Life and Portfolio is an accessible guide to money from the funniest man in finance.
"Once I picked it up I did not put it down until I finished. . . .
What Schwed has done is capture fully-in deceptively clean
language-the lunacy at the heart of the investment business."
." . . one of the funniest books ever written about Wall
"How great to have a reissue of a hilarious classic that proves
the more things change the more they stay the same. Only the names
have been changed to protect the innocent."
"It's amazing how well Schwed's book is holding up after
fifty-five years. About the only thing that's changed on Wall
Street is that computers have replaced pencils and graph paper.
Otherwise, the basics are the same. The investor's need to believe
somebody is matched by the financial advisor's need to make a nice
living. If one of them has to be disappointed, it's bound to be the
Humorous and entertaining, this book exposes the folly and hypocrisy of Wall Street. The title refers to a story about a visitor to New York who admired the yachts of the bankers and brokers. Naively, he asked where all the customers' yachts were? Of course, none of the customers could afford yachts, even though they dutifully followed the advice of their bankers and brokers. Full of wise contrarian advice and offering a true look at the world of investing, in which brokers get rich while their customers go broke, this book continues to open the eyes of investors to the reality of Wall Street.
Written by leading market risk academic, Professor Carol Alexander, "Practical Financial Econometrics" forms part two of the "Market Risk Analysis" four volume set. It introduces the econometric techniques that are commonly applied to finance with a critical and selective exposition, emphasising the areas of econometrics, such as GARCH, cointegration and copulas that are required for resolving problems in market risk analysis. The book covers material for a one-semester graduate course in applied financial econometrics in a very pedagogical fashion as each time a concept is introduced an empirical example is given, and whenever possible this is illustrated with an Excel spreadsheet.
All together, the Market Risk Analysis four volume set illustrates virtually "every" concept or formula with a practical, numerical example or a longer, empirical case study. Across all four volumes there are approximately 300 numerical and empirical examples, 400 graphs and figures and 30 case studies many of which are contained in "interactive Excel spreadsheets" available from the the accompanying CD-ROM . Empirical examples and case studies specific to this volume include: Factor analysis with orthogonal regressions and using principal component factors; Estimation of symmetric and asymmetric, normal and Student "t"GARCH and E-GARCH parameters; Normal, Student "t," Gumbel, Clayton, normal mixture copula densities, and simulations from these copulas with application to VaR and portfolio optimization; Principal component analysis of yield curves with applications to portfolio immunization and asset/liability management; Simulation of normal mixture and Markov switching GARCH returns; Cointegrationbased index tracking and pairs trading, with error correction and impulse response modelling; Markov switching regression models (Eviews code); GARCH term structure forecasting with volatility targeting; Non-linear quantile regressions with applications to hedging.
Investing-the commitment of resources to achieve a return-affects individuals, families, companies, and nations, and has done so throughout history. Yet until the sixteenth century, investing was a privilege of only the elite classes. The story behind the democratization of investing is bound up with some of history's most epic events. It is also a tale rich with lessons for professional and everyday investors who hope to make wiser choices. This entertaining history doubles as a sophisticated account of the opportunities and challenges facing the modern investor. It follows the rise of funded retirement; the evolution of investment vehicles and techniques; investment misdeeds and regulatory reform; government economic policy; the development of investment theory; and the emergence of new investment structures. Norton Reamer and Jesse Downing map these trends and profile the battle between low cost index and exchange-traded funds, on the one hand, and the higher-fee hedge funds and private equity, on the other. By helping us understand this history and its legacy of risk, Reamer and Downing hope to better educate readers about the individual and societal impact of investing and ultimately level the playing field.
For Amazon customers: The new version of the book, printed on higher quality paper, is now available to purchase. The essential futures market reference guide A Complete Guide to the Futures Market is the comprehensive resource for futures traders and analysts. Spanning everything from technical analysis, trading systems, and fundamental analysis to options, spreads, and practical trading principles, A Complete Guide is required reading for any trader or investor who wants to successfully navigate the futures market. Clear, concise, and to the point, this fully revised and updated second edition provides a solid foundation in futures market basics, details key analysis and forecasting techniques, explores advanced trading concepts, and illustrates the practical application of these ideas with hundreds of market examples. A Complete Guide to the Futures Market: * Details different trading and analytical approaches, including chart analysis, technical indicators and trading systems, regression analysis, and fundamental market models. * Separates misleading market myths from reality. * Gives step-by-step instruction for developing and testing original trading ideas and systems. * Illustrates a wide range of option strategies, and explains the trading implications of each. * Details a wealth of practical trading guidelines and market insights from a recognized trading authority. Trading futures without a firm grasp of this market s realities and nuances is a recipe for losing money. A Complete Guide to the Futures Market offers serious traders and investors the tools to keep themselves on the right side of the ledger.
2016 Book of the Year award winner by the Institute for Financial Literacy "Set it and forget it" investing, with less risk and higher returns Get Rich with Dividends is the bestselling dividend-investing book that shows investors how to achieve double-digit returns using a time-tested conservative strategy. Written by a nineteen-year veteran of the equity markets, this invaluable guide shows you how to set up your investments for minimal maintenance and higher returns, so you can accumulate wealth while you focus on the things that matter. Using the author's proprietary 10-11-12 system, you'll learn how to generate the income you need on a quarterly or even monthly basis. You'll discover the keys to identifying stocks that will return twelve percent or more every year, and how to structure your investments for greater security and financial well being. This method is so easy to use, you'll want to teach it to your children early to set them up for financial independence and help them avoid the problems that plagued many investors over the past decade. Dividends are responsible for 44 percent of the S&P 500's returns over the last eighty years. They represent an excellent opportunity today, especially for investors who have been burned in recent meltdowns and are desperate for sensible and less risky ways to make their money grow. This book describes a framework that allows investors to reap higher returns with a low-to-no maintenance plan. * Set up an investment system that requires little to no maintenance * Achieve double-digit average annualized returns over the long term * Focus on other things while your money works for you * Increase returns even with below-average growth in share price Market risk is high and interest rates are low, making it a perfect time to get started on a more sensible wealth generation strategy. With expert guidance toward finding and investing in these unique but conservative and proven stocks, Get Rich with Dividends is the only book on dividend investing you'll ever need.
""Minervini has run circles around most PhDs trying to design systems to beat the market."" -- JACK SCHWAGER, bestselling author of Stock Market Wizards
""Mark's book has to be on every investor's bookshelf. It is about the most comprehensive work I have ever read on investing in growth stocks."" -- DAVID RYAN, three-time U.S. Investing Champion
"" Minervini is] one of the most highly respected independent traders of our generation. His experience and past history of savvy market calls is legendary."" -- CHARLES KIRK, The Kirk Report
""One of Wall Street's most remarkable success stories."" -- BEN POWER, Your Trading Edge THE INVESTOR'S GUIDE TO SUPERPERFORMANCE
Dramatically increase your stock market returns with the legendary SEPA system
For the first time ever, U.S. Investing Champion Mark Minervini reveals the proven, time-tested trading system he used to achieve triple-digit returns for five consecutive years, averaging 220% per year for a 33,500% compounded total return.
In "Trade Like a Stock Market Wizard," Minervini unveils his trademarked stock market method SEPA, which provides outsized returns in virtually every market by combining careful risk management, self-analysis, and perseverance. He explains in detail how to select precise entry points and preserve capital--for consistent triple- digit returns.
Whether you're just getting started in the stock market or you're a seasoned pro, Minervini will show how you how to achieve SUPERPERFORMANCE You'll gain valuable knowledge as he shares lessons, trading truths, and specific tactics--all derived from his 30-year career as one of America's most successful stock traders.
"Trade Like a Stock Market Wizard" teaches you: How to find the best stocks before they make big price gains How to avoid costly mistakes made by most investors How to manage losses and protect profits How to avoid high-risk situations Precisely when to buy and when to sell How to buy an IPO Why traditional valuation doesn't work for fast-growing Superperformers Examples of Minervini's personal trades with his comments
With more than 160 chart examples and numerous case studies proving the remarkable effectiveness of Minervini's methodology, "Trade Like a Stock Market Wizard" puts in your hands one of the most effective and--until now--secretive stock investing systems in the world.
MARK MINERVINI has a trademarked stock market method that produces outsized returns in virtually every market. It's called Specific Entry Point Analysis--SEPA--and it has been proven effective for selecting precise entry points, preserving capital and profi ts with even more precise exit points--and consistently producing triple-digit returns.
Now, in "Trade Like a Stock Market Wizard," Minervini shares--for the fi rst time ever--his coveted methodology with investors like you
Governments often use direct subsidies or tax credits to encourage investment and promote economic growth and other development objectives. Properly designed and implemented, these incentives can advance a wide range of policy objectives (increasing employment, promoting sustainability, and reducing inequality). Yet since design and implementation are complicated, incentives have been associated with rent-seeking and wasteful public spending. This collection illustrates the different types and uses of these initiatives worldwide and examines the institutional steps that extend their value. By combining economic analysis with development impacts, regulatory issues, and policy options, these essays show not only how to increase the mobility of capital so that cities, states, nations, and regions can better attract, direct, and retain investments but also how to craft policy and compromise to ensure incentives endure.
The Financial Times Guide to Options, will introduce you to the instruments and markets of options, giving you the confidence to trade successfully. Options are explained in real-life terminology, using every-day examples and accessible language. Introducing three key options markets - stocks, bonds and commodities, the book explains options contracts from straight vanilla options to strangles and butterflies and covers the fundamentals of options pricing and trading Originally published as Options Plain and Simple , this new edition includes: How the options industry operates and how basic strategies have evolved Risk management and how to trade safely Inclusion of new products such as exchange traded funds A glossary of key words and further reading Addition of market scenarios and examples Like all investment strategies, options offer potential return while incurring potential risk. The advantage of options trading is that risk can be managed to a greater degree than with outright buying or selling. The Financial Times Guide to Options is a straightforward and practical introduction to the fundamentals of options. It includes only what is essential to basic understanding and presents options theory in conventional terms, with a minimum of jargon. This thorough guide will give you a basis from which to trade most of the options listed on most of the major exchanges. The Financial Times Guide to Options includes: Options in everyday life The basics of calls The basics of puts Pricing and behaviour Volatility and pricing models The Greeks and risk assessment: delta Gamma and theta Vega Call spreads and put spreads, or one by one directional spreads One by two directional spreads Combos and hybrid spreads for market direction Volatility spreads Combining straddles and strangles for reduced risk Combining call spreads and put spreads The covered write, the calendar spread and the diagonal spread The interaction of the Greeks Options performance based on cost Trouble shooting and common problems Volatility skews Futures, synthetics and put-call parity Conversions, reversals, boxes and options arbitrage
Straightforward strategies from a successful young investor
In "How a Second Grader Beats Wall Street, " you'll follow the story of Kevin Roth, an eight-year-old who was schooled in simple approaches to sound investing by his father, seasoned financial planner Allan Roth, and discover exactly how simple it can be to become a successful investor. Page by page, you'll learn how to create a portfolio with the widest diversification and lowest costs; one that can move up your financial freedom by a decade and dramatically increase your spending rate during retirement. And all this can be accomplished by using some common sense techniques.
Along the way, Kevin and his dad discuss fresh, new approaches to investing, and detail some tried-and-true, but lesser known approaches. They also take the time to debunk the financial myths and legends that many of us accept as true, and show you what it really takes to build long-term wealth with less risk.Discusses how to design a portfolio composed of a few basic building blocks that can be "tweaked" to fit your personal needsAddresses how you can reengineer your portfolio in order to stop needlessly paying taxesReveals how you can increase returns, regardless of which direction the market goes, by picking the "low-hanging fruit" we all have in our portfolios
With just a little time and a little work, you can become a better investor. With this book as your guide, you'll discover how a simpler approach to today's markets can put you on the path to financial independence.
Machine learning (ML) is changing virtually every aspect of our lives. Today ML algorithms accomplish tasks that until recently only expert humans could perform. As it relates to finance, this is the most exciting time to adopt a disruptive technology that will transform how everyone invests for generations. Readers will learn how to structure Big data in a way that is amenable to ML algorithms; how to conduct research with ML algorithms on that data; how to use supercomputing methods; how to backtest your discoveries while avoiding false positives. The book addresses real-life problems faced by practitioners on a daily basis, and explains scientifically sound solutions using math, supported by code and examples. Readers become active users who can test the proposed solutions in their particular setting. Written by a recognized expert and portfolio manager, this book will equip investment professionals with the groundbreaking tools needed to succeed in modern finance.
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