Advances in Financial Machine Learning_big data_其他

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<div id="pf2" class="pf w2 h0" data-page-no="2"><div class="pc pc2 w2 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/627036fd40256a40ceb70156/bg2.jpg"><div class="t m0 x1 h2 y1 ff1 fs0 fc0 sc0 ls0 ws0">Praise for Advances in Financial Machine Learning</div><div class="t m0 x2 h3 y2 ff3 fs1 fc0 sc0 ls1 ws0">In his new book Advances in Financial Machine Learning, noted nancial scholar</div><div class="t m0 x2 h3 y3 ff3 fs1 fc0 sc0 ls1 ws0">Marcos L</div><div class="t m0 x3 h3 y4 ff3 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x1 h3 y3 ff3 fs1 fc0 sc0 ls1 ws0">opez de Prado strikes a well-aimed karate chop at the naive and often statis-</div><div class="t m0 x2 h3 y5 ff3 fs1 fc0 sc0 ls1 ws0">tically overt techniques that are so prevalent in the nancial world today. He points</div><div class="t m0 x2 h3 y6 ff3 fs1 fc0 sc0 ls1 ws0">out that not only are business-as-usual approaches largely impotent in today’s high-</div><div class="t m0 x2 h3 y7 ff3 fs1 fc0 sc0 ls1 ws0">tech nance, but in many cases they are actually prone to lose money. But L</div><div class="t m0 x4 h3 y8 ff3 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x5 h3 y7 ff3 fs1 fc0 sc0 ls4 ws0">opez de</div><div class="t m0 x2 h3 y9 ff3 fs1 fc0 sc0 ls1 ws0">Prado does more than just expose the mathematical and statistical sins of the nance</div><div class="t m0 x2 h3 ya ff3 fs1 fc0 sc0 ls1 ws0">world. Instead, he offers a technically sound roadmap for nance professionals to join</div><div class="t m0 x2 h3 yb ff3 fs1 fc0 sc0 ls5 ws0">the wave of machine learning. What is particularly refreshing is the author’s empirical</div><div class="t m0 x2 h3 yc ff3 fs1 fc0 sc0 ls1 ws0">approach—his focus is on real-world data analysis, not on purely theoretical meth-</div><div class="t m0 x2 h3 yd ff3 fs1 fc0 sc0 ls1 ws0">ods that may look pretty on paper but which, in many cases, are largely ineffective in</div><div class="t m0 x2 h3 ye ff3 fs1 fc0 sc0 ls5 ws0">practice. The book is geared to nance professionals who are already familiar with</div><div class="t m0 x2 h3 yf ff3 fs1 fc0 sc0 ls5 ws0">statistical data analysis techniques, but it is well worth the effort for those who want</div><div class="t m0 x2 h3 y10 ff3 fs1 fc0 sc0 ls5 ws0">to do real state-of-the-art work in the eld.”</div><div class="t m0 x6 h3 y11 ff1 fs1 fc0 sc0 ls5 ws0">Dr. David H. Bailey, former Complex Systems Lead,</div><div class="t m0 x7 h3 y12 ff3 fs1 fc0 sc0 ls1 ws0">Lawrence Berkeley National Laboratory. Co-discoverer of the</div><div class="t m0 x8 h3 y13 ff3 fs1 fc0 sc0 ls1 ws0">BBP spigot algorithm</div><div class="t m0 x2 h3 y14 ff3 fs1 fc0 sc0 ls1 ws0">“Finance has evolved from a compendium of heuristics based on historical nancial</div><div class="t m0 x2 h3 y15 ff3 fs1 fc0 sc0 ls5 ws0">statements to a highly sophisticated scientic discipline relying on computer farms</div><div class="t m0 x2 h3 y16 ff3 fs1 fc0 sc0 ls1 ws0">to analyze massive data streams in real time. The recent highly impressive advances</div><div class="t m0 x2 h3 y17 ff3 fs1 fc0 sc0 ls5 ws0">in machine learning (ML) are fraught with both promise and peril when applied to</div><div class="t m0 x2 h3 y18 ff3 fs1 fc0 sc0 ls1 ws0">modern nance. While nance offers up the nonlinearities and large data sets upon</div><div class="t m0 x2 h3 y19 ff3 fs1 fc0 sc0 ls5 ws0">which ML thrives, it also offers up noisy data and the human element which presently</div><div class="t m0 x2 h3 y1a ff3 fs1 fc0 sc0 ls1 ws0">lie beyond the scope of standard ML techniques. To err is human, but if you really</div><div class="t m0 x2 h3 y1b ff3 fs1 fc0 sc0 ls1 ws0">want to f**k things up, use a computer. Against this background, Dr. L</div><div class="t m0 x9 h3 y1c ff3 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 xa h3 y1b ff3 fs1 fc0 sc0 ls2 ws0">opez de Prado</div><div class="t m0 x2 h3 y1d ff3 fs1 fc0 sc0 ls1 ws0">has written the rst comprehensive book describing the application of modern ML</div><div class="t m0 x2 h3 y1e ff3 fs1 fc0 sc0 ls2 ws0">to nancial modeling. The book blends the latest technological developments in ML</div><div class="t m0 x2 h3 y1f ff3 fs1 fc0 sc0 ls1 ws0">with critical life lessons learned from the author’s decades of nancial experience in</div><div class="t m0 x2 h3 y20 ff3 fs1 fc0 sc0 ls1 ws0">leading academic and industrial institutions. I highly recommend this exciting book</div><div class="t m0 x2 h3 y21 ff3 fs1 fc0 sc0 ls5 ws0">to both prospective students of nancial ML and the professors and supervisors who</div><div class="t m0 x2 h3 y22 ff3 fs1 fc0 sc0 ls2 ws0">teach and guide them.”</div><div class="t m0 xb h3 y23 ff1 fs1 fc0 sc0 ls2 ws0">Prof. Peter Carr, Chair of the Finance and Risk Engineering</div><div class="t m0 xc h3 y24 ff3 fs1 fc0 sc0 ls2 ws0">Department, NYU Tandon School of Engineering</div><div class="t m0 x2 h3 y25 ff3 fs1 fc0 sc0 ls5 ws0">“Marcos is a visionary who works tirelessly to advance the nance eld. His writing is</div><div class="t m0 x2 h3 y26 ff3 fs1 fc0 sc0 ls1 ws0">comprehensive and masterfully connects the theory to the application. It is not often</div><div class="t m0 x2 h3 y27 ff3 fs1 fc0 sc0 ls1 ws0">you nd a book that can cross that divide. This book is an essential read for both</div><div class="t m0 x2 h3 y28 ff3 fs1 fc0 sc0 ls5 ws0">practitioners and technologists working on solutions for the investment community.”</div><div class="t m0 xd h3 y29 ff1 fs1 fc0 sc0 ls2 ws0">Landon Downs, President and Cofounder, 1QBit</div><div class="t m0 x2 h3 y2a ff3 fs1 fc0 sc0 ls1 ws0">“Academics who want to understand modern investment management need to read</div><div class="t m0 x2 h3 y2b ff3 fs1 fc0 sc0 ls5 ws0">this book. In it, Marcos L</div><div class="t m0 xe h3 y2c ff3 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 xf h3 y2b ff3 fs1 fc0 sc0 ls1 ws0">opez de Prado explains how portfolio managers use machine</div><div class="t m0 x2 h3 y2d ff3 fs1 fc0 sc0 ls5 ws0">learning to derive, test, and employ trading strategies. He does this from a very</div><div class="t m0 x2 h3 y2e ff3 fs1 fc0 sc0 ls1 ws0">unusual combination of an academic perspective and extensive experience in indus-</div><div class="t m0 x2 h3 y2f ff3 fs1 fc0 sc0 ls5 ws0">try, allowing him to both explain in detail what happens in industry and to explain</div></div><div class="pi" data-data='{"ctm":[2.094136,0.000000,0.000000,2.094136,-182.742667,-150.777778]}'></div></div>

<div id="pf3" class="pf w2 h0" data-page-no="3"><div class="pc pc3 w2 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/627036fd40256a40ceb70156/bg3.jpg"><div class="t m0 x10 h3 y30 ff5 fs1 fc0 sc0 ls1 ws0">how it works. I suspect that some readers will nd parts of the book that they do not</div><div class="t m0 x10 h3 y31 ff5 fs1 fc0 sc0 ls1 ws0">understand or that they disagree with, but everyone interested in understanding the</div><div class="t m0 x10 h3 y32 ff5 fs1 fc0 sc0 ls1 ws0">application of machine learning to nance will benet from reading this book.”</div><div class="t m0 x11 h3 y33 ff6 fs1 fc0 sc0 ls1 ws0">Prof. David Easley, Cornell University. Chair of the</div><div class="t m0 x12 h3 y34 ff5 fs1 fc0 sc0 ls5 ws0">NASDAQ-OMX Economic Advisory Board</div><div class="t m0 x10 h3 y35 ff5 fs1 fc0 sc0 ls5 ws0">“For many decades, nance has relied on overly simplistic statistical techniques</div><div class="t m0 x10 h3 y36 ff5 fs1 fc0 sc0 ls1 ws0">to identify patterns in data. Machine learning promises to change that by allowing</div><div class="t m0 x10 h3 y37 ff5 fs1 fc0 sc0 ls1 ws0">researchers to use modern nonlinear and highly dimensional techniques, similar to</div><div class="t m0 x10 h3 y38 ff5 fs1 fc0 sc0 ls5 ws0">those used in scientic elds like DNA analysis and astrophysics. At the same time,</div><div class="t m0 x10 h3 y39 ff5 fs1 fc0 sc0 ls1 ws0">applying those machine learning algorithms to model nancial problems would be</div><div class="t m0 x10 h3 y3a ff5 fs1 fc0 sc0 ls5 ws0">dangerous. Financial problems require very distinct machine learning solutions.</div><div class="t m0 x10 h3 y3b ff5 fs1 fc0 sc0 ls1 ws0">Dr. L</div><div class="t m0 x13 h3 y3c ff5 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x14 h3 y3b ff5 fs1 fc0 sc0 ls1 ws0">opez de Prado’s book is the rst one to characterize what makes standard</div><div class="t m0 x10 h3 y3d ff5 fs1 fc0 sc0 ls1 ws0">machine learning tools fail when applied to the eld of nance, and the rst one to</div><div class="t m0 x10 h3 y3e ff5 fs1 fc0 sc0 ls1 ws0">provide practical solutions to unique challenges faced by asset managers. Everyone</div><div class="t m0 x10 h3 y3f ff5 fs1 fc0 sc0 ls1 ws0">who wants to understand the future of nance should read this book.”</div><div class="t m0 x15 h3 y40 ff6 fs1 fc0 sc0 ls2 ws0">Prof. Frank Fabozzi, EDHEC Business School. Editor of</div><div class="t m0 x16 h4 y41 ff7 fs1 fc0 sc0 ls1 ws0">The Journal of Portfolio Management</div><div class="t m0 x10 h3 y42 ff5 fs1 fc0 sc0 ls1 ws0">“This is a welcome departure from the knowledge hoarding that plagues quantitative</div><div class="t m0 x10 h3 y43 ff5 fs1 fc0 sc0 ls4 ws0">nance. L</div><div class="t m0 x17 h3 y44 ff5 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x18 h3 y43 ff5 fs1 fc0 sc0 ls1 ws0">opez de Prado denes for all readers the next era of nance: industrial scale</div><div class="t m0 x10 h3 y45 ff5 fs1 fc0 sc0 ls1 ws0">scientic research powered by machines.”</div><div class="t m0 x19 h3 y46 ff6 fs1 fc0 sc0 ls2 ws0">John Fawcett, Founder and CEO, Quantopian</div><div class="t m0 x10 h3 y47 ff5 fs1 fc0 sc0 ls1 ws0">“Marcos has assembled in one place an invaluable set of lessons and techniques for</div><div class="t m0 x10 h3 y48 ff5 fs1 fc0 sc0 ls1 ws0">practitioners seeking to deploy machine learning techniques in nance. If machine</div><div class="t m0 x10 h3 y49 ff5 fs1 fc0 sc0 ls5 ws0">learning is a new and potentially powerful weapon in the arsenal of quantitative</div><div class="t m0 x10 h3 y4a ff5 fs1 fc0 sc0 ls5 ws0">nance, Marcos’s insightful book is laden with useful advice to help keep a curi-</div><div class="t m0 x10 h3 y4b ff5 fs1 fc0 sc0 ls1 ws0">ous practitioner from going down any number of blind alleys, or shooting oneself in</div><div class="t m0 x10 h3 y4c ff5 fs1 fc0 sc0 ls1 ws0">the foot.”</div><div class="t m0 x1a h3 y4d ff6 fs1 fc0 sc0 ls5 ws0">Ross Garon, Head of Cubist Systematic Strategies. Managing</div><div class="t m0 x1b h3 y4e ff5 fs1 fc0 sc0 ls1 ws0">Director, Point72 Asset Management</div><div class="t m0 x10 h3 y4f ff5 fs1 fc0 sc0 ls1 ws0">“The rst wave of quantitative innovation in nance was led by Markowitz optimiza-</div><div class="t m0 x10 h3 y50 ff5 fs1 fc0 sc0 ls1 ws0">tion. Machine Learning is the second wave, and it will touch every aspect of nance.</div><div class="t m0 x10 h3 y51 ff5 fs1 fc0 sc0 ls3 ws0">L</div><div class="t m0 x1c h3 y52 ff5 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x1d h3 y51 ff5 fs1 fc0 sc0 ls2 ws0">opez de Prado’s Advances in Financial Machine Learning is essential for readers</div><div class="t m0 x10 h3 y53 ff5 fs1 fc0 sc0 ls1 ws0">who want to be ahead of the technology rather than being replaced by it.”</div><div class="t m0 x1e h3 y54 ff6 fs1 fc0 sc0 ls2 ws0">Prof. Campbell Harvey, Duke University. Former President of</div><div class="t m0 x1f h3 y55 ff5 fs1 fc0 sc0 ls1 ws0">the American Finance Association</div><div class="t m0 x10 h3 y56 ff5 fs1 fc0 sc0 ls1 ws0">“How does one make sense of todays’ nancial markets in which complex algo-</div><div class="t m0 x10 h3 y57 ff5 fs1 fc0 sc0 ls1 ws0">rithms route orders, nancial data is voluminous, and trading speeds are measured</div><div class="t m0 x10 h3 y58 ff5 fs1 fc0 sc0 ls1 ws0">in nanoseconds? In this important book, Marcos L</div><div class="t m0 x20 h3 y59 ff5 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x21 h3 y58 ff5 fs1 fc0 sc0 ls1 ws0">opez de Prado sets out a new</div><div class="t m0 x10 h3 y5a ff5 fs1 fc0 sc0 ls1 ws0">paradigm for investment management built on machine learning. Far from being a</div><div class="t m0 x10 h3 y5b ff5 fs1 fc0 sc0 ls1 ws0">“black box” technique, this book clearly explains the tools and process of nancial</div></div><div class="pi" data-data='{"ctm":[2.094136,0.000000,0.000000,2.094136,-182.742667,-150.777778]}'></div></div>

<div id="pf4" class="pf w2 h0" data-page-no="4"><div class="pc pc4 w2 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://static.pudn.com/prod/directory_preview_static/627036fd40256a40ceb70156/bg4.jpg"><div class="t m0 x2 h3 y30 ff8 fs1 fc0 sc0 ls1 ws0">machine learning. For academics and practitioners alike, this book lls an important</div><div class="t m0 x2 h3 y31 ff8 fs1 fc0 sc0 ls1 ws0">gap in our understanding of investment management in the machine age.”</div><div class="t m0 x22 h3 y32 ff9 fs1 fc0 sc0 ls2 ws0">Prof. Maureen O’Hara, Cornell University. Former President of</div><div class="t m0 x23 h3 y33 ff8 fs1 fc0 sc0 ls1 ws0">the American Finance Association</div><div class="t m0 x2 h3 y5c ff8 fs1 fc0 sc0 ls2 ws0">“Marcos L</div><div class="t m0 x24 h3 y5d ff8 fs1 fc0 sc0 ls3 ws0">´</div><div class="t m0 x25 h3 y5c ff8 fs1 fc0 sc0 ls2 ws0">opez de Prado has produced an extremely timely and important book on</div><div class="t m0 x2 h3 y5e ff8 fs1 fc0 sc0 ls5 ws0">machine learning. The author’s academic and professional rst-rate credentials shine</div><div class="t m0 x2 h3 y5f ff8 fs1 fc0 sc0 ls1 ws0">through the pages of this book—indeed, I could think of few, if any, authors better</div><div class="t m0 x2 h3 y60 ff8 fs1 fc0 sc0 ls1 ws0">suited to explaining both the theoretical and the practical aspects of this new and</div><div class="t m0 x2 h3 y61 ff8 fs1 fc0 sc0 ls5 ws0">(for most) unfamiliar subject. Both novices and experienced professionals will nd</div><div class="t m0 x2 h3 y62 ff8 fs1 fc0 sc0 ls1 ws0">insightful ideas, and will understand how the subject can be applied in novel and use-</div><div class="t m0 x2 h3 y63 ff8 fs1 fc0 sc0 ls1 ws0">ful ways. The Python code will give the novice readers a running start and will allow</div><div class="t m0 x2 h3 y64 ff8 fs1 fc0 sc0 ls1 ws0">them to gain quickly a hands-on appreciation of the subject. Destined to become a</div><div class="t m0 x2 h3 y65 ff8 fs1 fc0 sc0 ls1 ws0">classic in this rapidly burgeoning eld.”</div><div class="t m0 x26 h3 y66 ff9 fs1 fc0 sc0 ls2 ws0">Prof. Riccardo Rebonato, EDHEC Business School. Former</div><div class="t m0 x27 h3 y67 ff8 fs1 fc0 sc0 ls2 ws0">Global Head of Rates and FX Analytics at PIMCO</div><div class="t m0 x2 h3 y68 ff8 fs1 fc0 sc0 ls1 ws0">“A tour de force on practical aspects of machine learning in nance, brimming with</div><div class="t m0 x2 h3 y69 ff8 fs1 fc0 sc0 ls1 ws0">ideas on how to employ cutting-edge techniques, such as fractional differentiation</div><div class="t m0 x2 h3 y6a ff8 fs1 fc0 sc0 ls1 ws0">and quantum computers, to gain insight and competitive advantage. A useful volume</div><div class="t m0 x2 h3 y6b ff8 fs1 fc0 sc0 ls1 ws0">for nance and machine learning practitioners alike.”</div><div class="t m0 x28 h3 y6c ff9 fs1 fc0 sc0 ls3 ws0">Dr. Collin P. Williams, Head of Research, D-Wave Systems</div></div><div class="pi" data-data='{"ctm":[2.094136,0.000000,0.000000,2.094136,-182.742667,-150.777778]}'></div></div>