Prado, Marcos M. Lopez de
Machine Learning for Asset Managers (Elements in Quantitative Finance)
- ISBN 13:
- 9781108792899
- author:
- Prado, Marcos M. Lopez de
- format:
- Paperback
- publisher:
- Cambridge University Press
- language:
- English
- Publication Year:
- 2020
- Pages:
- 152
- Dimensions:
- 22.9 x 15.2 x 0.8 centimetres (0
- Genre:
- Professional & Vocational, Business, Finance,
- Condition:
- New
- Availability:
- Item usually sent within 4 working days
Description
Machine Learning for Asset Managers by Marcos M. López de Prado provides a theoretical foundation for asset managers to develop and test investment strategies. By focusing on machine learning tools, this Element helps asset managers discover economic and financial theories that can inform their decision-making. Machine learning offers several advantages over traditional statistical methods, including its ability to focus on out-of-sample predictability, use computational methods to avoid unrealistic assumptions, and "learn" complex specifications in high-dimensional spaces. This approach enables asset managers to disentangle the variable search from the specification search, robust to multicollinearity and other substitution effects. This book is a practical guide for asset managers looking to incorporate machine learning into their investment strategies. With its focus on theoretical justification and out-of-sample predictability, it provides a valuable resource for those seeking to improve their investment decision-making.
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