Books
Handbook of Artificial Intelligence and Big Data Applications in Investments
The Handbook of Artificial Intelligence and Big Data Applications in Investments offers a unique and original compilation by focusing on specific applications, challenges, and insights in the investment industry. The handbook's originality lies in:
Practical Insights from Industry Practitioners: It includes real-world case studies and experiences directly from professionals actively employing AI and big data in investment strategies.
Tailored Content for Finance Professionals: The book is specifically designed for those in the finance and investment sectors, making it more targeted than general AI and big data literature.
Latest Trends and Applications: The handbook encompasses the most current trends, challenges, and advancements in the application of AI and big data in investments.
The book is a best seller, currently ranking #5 in the Business and Money/Big Data category on Amazon. The Kindle version is free to download.
From the Handbook's reviewers...
"This handbook provides applications currently used by investment practitioners, who share insights, successes, and challenges. Designed and curated by Larry Cao, this handbook is an invaluable reference for investment professionals on the road to adoption as AI innovation transforms our industry."
Carole K. Crawford, CFA
"I wholeheartedly believe in the importance of topics included in this handbook. We need such a publication in our industry. I hope everyone enjoys this book and makes it a companion on their data science journey in the following years."
Charles Wu, CFA
"Many of the methods described in this handbook are still in the early stages of development. The chapters have been carefully selected and edited by Larry Cao, who can again be congratulated on pulling together a wide breadth of pertinent topics and authors and combining them with great skill."
Susan Spinner
"The current wave of AI does not relate only to new methodologies, big data, and computational power. The additional dimension this time is the democratization of AI, with the wide involvement of professionals, researchers, educators, and policymakers. To make it sustainable beyond the hype of yet another wave, we need to take stock of the promise, manage our expectations, and continue to embrace differing approaches. We are proud to be part of this effort to support and disseminate the body of knowledge through this handbook."
Aaron Low, PhD, CFA
Multi-Asset Strategies: The Future of Investment Management
Multi-Asset Strategies: The Future of Investment Management is a comprehensive guide on multi-asset investing. The book fills a gap in available literature by offering insights into multi-asset strategies without heavy reliance on mathematical formulas, thus catering to a broader audience than just quantitative analysts (quants).
The book is structured to be concise, accessible, and authoritative. Each chapter is short, designed for a 15-20 minute read, and written in plain English, making it approachable for a wide range of readers. The contributors are experts in the field, ensuring the content's credibility.
Key contents include:
An explanation of various products under the multi-asset umbrella, distinguishing modern multi-asset-strategy products from traditional balanced funds and funds of funds.
A discussion on risk factor allocation and its value in asset class-based asset allocation analysis.
An examination of dynamic asset allocation (DAA) and tactical asset allocation, addressing common misconceptions about these strategies.
An analysis of risk parity, exploring both its theory and historical performance.
An introduction to the Morningstar Style Box, demonstrating its application for retail investors in risk factor allocation.
Case studies and experiences shared by a prominent Asian sovereign wealth manager and two veteran portfolio managers.
The book has been translated into Chinese and published by Peking University Press.
Endorsement for the book...
"The investment industry has historically mostly focused on security selection decisions, a focus that has come as a distraction with respect to another key source of added value, namely asset allocation decisions. In the face of recent crises, and given the intrinsic difficulty of delivering added value through security selection decisions alone, the relevance of the old paradigm has been questioned with heightened intensity, and the focus is shifting towards the proper management of factor exposures as the main source of performance. As part of this developing trend, multi-asset investment solutions have become increasingly popular amongst sophisticated institutional investors focusing on efficient harvesting of risk premia across and within asset classes. In this context, the book appropriately titled Multi-Asset Strategies: The Future of Investment Management, edited by Larry Cao, is a timely and welcome initiative. Written in a highly accessible manner and targeting investment professionals with no or little prior exposure to the subject, this text provides a collection of meaningful articles on multi-asset products and solutions. Most interestingly perhaps, it also includes in-depth coverage of examples of implementation from an investor standpoint. This book will prove useful reading for asset owners and asset managers alike."
Lionel Martellini
Director, EDHEC Risk Institute Professor
EDHEC Business School
"The Multi-Asset Strategies is an easy-to-read yet authoritative and up-to-date guide to some of the leading concepts and controversies in the investment industry. Larry Cao acts as editor, setting the themes, selecting well-known experts to write the chapters, and then providing practical applications. Among other issues, the book critically examines asset classes versus factor exposures, dynamic asset allocation, risk parity, and style boxes. Then, case studies provide an inside look at how portfolios are actually managed at three leading global management firms. Although we agree to disagree on some issues, I do recommend this very well-done book.”
Roger Ibbotson
Professor, Yale School of Management
Chairman, Zebra Capital Management, LLC
"No one can beat the market all the time. Multi-asset strategies provide an instrument that satisfies the need for asset allocation by all investors, particularly long-term investors. This is precisely where the fundamental value-add of investment managers comes in. Multi-Asset Strategies: The Future of Investment Management examines the overall theory and practices of multi-asset investing, providing investment managers with an invaluable reference."
Hong Lei
Chairman
Asset Management Association of China
"Larry Cao has brought together top-flight investment professionals with a diverse approach to multi-asset class management. As a global asset allocator, I very much appreciate the mosaic approach of Multi-Asset Strategies. Without doubt, this book leaves the reader with a holistic view of best practice in the field."
Robert Browne
CIO
Northern Trust