Nerds on Wall Street : Math, Machines and Wired Markets

by David J. Leinweber; Foreword by: Theodore R. Aronson

• ISBN13: 9780470500552
• ISBN10: 0470500557
• Format: eBook
• Copyright: 2009-05-01
• Publisher: Wiley

Summary

An intriguing look at how technology is changing financial markets, from an innovator on the frontlines of this revolution Nerds on Wall Street tells the tale of the ongoing technological transformation of the world's financial markets. The impact of technology on investing is profound, and author David Leinweber provides readers with an overview of where we were just a few short years ago, and where we are going. Being a successful investor today and tomorrow--individual or institutional--involves more than stock picking, asset allocation, or market timing: it involves technology. And Leinweber helps readers go beyond the numbers to see exactly how this technology has become more responsible for managing modern markets. In essence, the financial game has changed and will continue to change due entirely to technology. The new "players," human or otherwise, offer investors opportunities and dangers. With this intriguing and entertaining book, Leinweber shows where technology on Wall Street has been, what it has meant, and how it will impact the markets of tomorrow. David Leinweber, PhD (Pasadena, CA), is Haas Fellow in Finance at the Haas School of Business at UC Berkeley, and founder of the Center for Innovative Financial Technology at Haas. He is the founder of two pioneering financial technology firms and has consulted, published, and lectured widely on the use of advanced technology, artificial intelligence, and intelligence amplification in finance.

Table of Contents

Foreword

Acknowledgments

Introduction

Wired Markets

An Illustrated History of Wired Markets

Greatest Hits of Computation in Finance

Algorithm Wars

Alpha as Life

Where Does Alpha Come From?

A Gentle Introduction to Computerized Investing

Stupid Data Miner Tricks

Artificial Intelligence and Intelligence Amplification

A Little AI Goes a Long Way on Wall Street

Perils and Promise of Evolutionary Computation on Wall Street

The Text Frontier: AI, IA, and the New Research

Collective Intelligence, Social Media, and Web Market Monitors

Three Hundred Years of Stock Market Manipulations: From the Coffeehouse to the World Wide Web

Nerds Gone Wild: Wired Markets in Distress

Shooting the Moon: Stupid Financial Technology Tricks

Structural Ideas for the Economic Rescue: Fractional Homes and New Banks

Nerds Gone Green: Nerds on Wall Street, off Wall Street

Index

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