Advances in Financial Machine Learning


Two of the most talked-about topics in modern finance are machine learning and quantitative finance. Both of these are addressed in a new book, written by noted financial scholar Marcos Lopez de Prado, entitled Advances in Financial Machine Learning.

In this book, Lopez de Prado strikes a well-aimed karate chop at the naive and often statistically overfit techniques that are so prevalent in the financial world today. But Lopez de Prado does more than just expose the mathematical and statistical sins of the field. Instead, he presents a technically sound roadmap for those who want to do state-of-the-art

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Does indexing threaten the market?


Index investing has grown significantly over the past 30 years. Back in 1990, few were even aware of the option for indexing, and options were limited mostly to a handful of conventional mutual funds tracking the U.S. S&P 500 index. In 1993, Boston’s State Street Global Advisors launched the first S&P 500 index-tracking exchanged traded fund (ETF), with ticker SPY. Today this ETF controls over USD$300 billion in assets. Thousands of other index-tracking mutual funds and ETFs, tracking numerous different indices, in numerous different world markets and regions, are now in operation; in the U.S. alone, there were 1716

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