{"product_id":"machine-learning-for-asset-managers-9781108792899","title":"Machine Learning for Asset Managers","description":"Successful investment strategies are specific implementations of general theories. An investment strategy that lacks a theoretical justification is likely to be false. Hence, an asset manager should concentrate her efforts on developing a theory rather than on backtesting potential trading rules. The purpose of this Element is to introduce machine learning (ML) tools that can help asset managers discover economic and financial theories. ML is not a black box, and it does not necessarily overfit. ML tools complement rather than replace the classical statistical methods. Some of ML's strengths include (1) a focus on out-of-sample predictability over variance adjudication; (2) the use of computational methods to avoid relying on (potentially unrealistic) assumptions; (3) the ability to \"learn\" complex specifications, including nonlinear, hierarchical, and noncontinuous interaction effects in a high-dimensional space; and (4) the ability to disentangle the variable search from the specification search, robust to multicollinearity and other substitution effects.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=AUTH-13396929\"\u003eMarcos M. López de Prado\u003c\/a\u003e\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Cambridge University Press\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 04\/30\/2020\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 152\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.47lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.00h x 6.00w x 0.33d\u003cbr\u003e\u003cb\u003eISBN13:\u003c\/b\u003e 9781108792899\u003cbr\u003e\u003cb\u003eISBN10:\u003c\/b\u003e 1108792898\u003cbr\u003e\u003cb\u003eBISAC Categories:\u003c\/b\u003e\u003cbr\u003e- \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=CAT-BUS\"\u003eBusiness \u0026amp; Economics\u003c\/a\u003e | \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=BISAC-BUS027000\"\u003eFinance | General\u003c\/a\u003e\u003cbr\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":42711529095405,"sku":"9781108792899","price":35.42,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0550\/8097\/6621\/products\/img_c191ad52-1288-4d3d-a261-88bc86337237.jpg?v=1650162635","url":"https:\/\/sureshotbooks.com\/products\/machine-learning-for-asset-managers-9781108792899","provider":"SureShot Books Publishing LLC","version":"1.0","type":"link"}