New Book: What Hedge Funds Really Do

Posted on August 7, 2014 by

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I’m pleased to announce the upcoming release of a new book written with Philip Romero.

How to get the book

As of September 9, 2014, the book is available these three ways:

About the book

cover

As you may know, I teach courses on computational finance, both on campus at Georgia Tech, and online with Coursera.  I spent some time searching for an appropriate text for these courses with no success.

Of course there are lots of texts covering mathematics and algorithms for finance and trading. One of my favorites is by Grinold and Kahn. Unfortunately most of these books, even the one by Grinold and Khan, are rather dense and tough to follow, especially for readers without formal training in finance.  Because most of my students are Computer Science majors; I wanted a book with technical depth, but that could stand on its own without requiring a finance background.

I’m very fortunate to have been able to team up with professor Philip Romero to create this new book that is tailored specifically for this audience.

I’m pleased with the result, which I hope many folks interested in learning about mathematical and statistical approaches to investing will enjoy.

About the authors

Dr. Philip J. Romero is an economist, policy analyst, and applied mathematician. Romero has been a professor of business administration at the University of Oregon’s Lundquist College of Business since the summer of 1999, where he holds the Miller chair. From 2008 to 2010 he was the dean of Cal State Los Angeles Business School. From 1999 to 2004 he served as dean at the University of Oregon’s business school, where today he teaches a course combining economics and corporate strategy.

Tucker Balch is a former F-15 pilot, associate professor of Interactive Computing at Georgia Tech, and co-founder of Lucena Research, Inc., an investment research firm. Tucker holds a bachelor’s degree and Ph.D. in Computer Science, both from the Georgia Institute of Technology.  Dr. Balch was one of the first to bring instruction on quantitative analysis to a worldwide audience via his Massive Online Open Course “Computational Investing, Part I.”  Over 125,000 students have enrolled that course.  This book was created as a companion text for that course.

What people are saying about the book

When I managed a hedge fund in the late 1990s computer-based trading was a mysterious technique only available to the largest hedge funds and institutional trading desks.  We’ve come a long way since then.  With this book, Drs. Romero and Balch lift the veil from many of these once-opaque concepts in high-tech finance.   We can all benefit from learning how the cooperation between wetware and software creates fitter models.  This book does a fantastic job describing how the latest advances in financial modeling and data science help today’s portfolio
managers solve these greater riddles.

–Michael Himmel, Managing Partner, Essex Asset Management

I applaud Phil Romero and Tucker Balch’s willingness to write about the hedge fund world, an industry that is very private, often flamboyant and easily misunderstood. As with every sector of the investment landscape, the hedge fund industry varies dramatically from quantitative “black box” technology, to fundamental research and old fashioned  stock picking. This book helps investors distinguish between these diverse opposites and  understand their place in the new evolving world of finance.

–Mick Elfers, Founder and Chief Investment Strategist, Irvington Capital

What’s in the book?

Table of Contents

Table of Contents

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