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Nerds on Wall Street: Math, Machines and Wired Markets
An intriguing look at how technology is changing financial markets, from an innovator on the frontlines of this revolution
Nerds on Wall Street tells the tale of the ongoing technological transformation of the world's financial markets. The impact of technology on investing is profound, and author David Leinweber provides readers with an overview of where we were just a few short years ago, and where we are going. Being a successful investor today and tomorrow--individual or institutional--involves more than stock picking, asset allocation, or market it involves technology. And Leinweber helps readers go beyond the numbers to see exactly how this technology has become more responsible for managing modern markets. In essence, the financial game has changed and will continue to change due entirely to technology. The new "players," human or otherwise, offer investors opportunities and dangers. With this intriguing and entertaining book, Leinweber shows where technology on Wall Street has been, what it has meant, and how it will impact the markets of tomorrow.
Nerds on Wall Street tells the tale of the ongoing technological transformation of the world's financial markets. The impact of technology on investing is profound, and author David Leinweber provides readers with an overview of where we were just a few short years ago, and where we are going. Being a successful investor today and tomorrow--individual or institutional--involves more than stock picking, asset allocation, or market it involves technology. And Leinweber helps readers go beyond the numbers to see exactly how this technology has become more responsible for managing modern markets. In essence, the financial game has changed and will continue to change due entirely to technology. The new "players," human or otherwise, offer investors opportunities and dangers. With this intriguing and entertaining book, Leinweber shows where technology on Wall Street has been, what it has meant, and how it will impact the markets of tomorrow.
400 pages, Hardcover
First published December 31, 2008
12 people are currently reading
158 people want to read
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Displaying 1 - 7 of 7 reviews
November 23, 2009
Nerds on Wall Street (NOWS, because nerds must obsessively abbreviate) is a fast, interesting read about the increasing use of computers on the Street. Its a good overview book: Leinweber draws on his vast experience doing stuff at the intersection of computers and finance for a long long time. Its really great if you are a nerd wondering what there is to do in the financial world or frankly how to get a piece of that trillion dollar pie that is the Street. Leinweber talks a bit (and just a bit) about pretty much everything that is computer related - from charting and visualization, data analysis and automated monitoring to algo trading.
There are two reasons for the mediocre rating:
1. Its thin on details: probably because the desire to disseminate information to a larger audience (every equation halves the number of copies that you can sell).
2. There is a lot of repetition. He draws on his experience building several software firms doing various things on or for wall street but repeats the same story several times. Maybe because the book is an agglomeration of various papers he has written (where the mention of his experience would be novel and non-repetitive). Regardless, it does not work for the book.
The good stuff:
1. Good overview. This can't be overstated. The book gets the job done.
2. For a non-fiction book, its a really easy read.
There are two reasons for the mediocre rating:
1. Its thin on details: probably because the desire to disseminate information to a larger audience (every equation halves the number of copies that you can sell).
2. There is a lot of repetition. He draws on his experience building several software firms doing various things on or for wall street but repeats the same story several times. Maybe because the book is an agglomeration of various papers he has written (where the mention of his experience would be novel and non-repetitive). Regardless, it does not work for the book.
The good stuff:
1. Good overview. This can't be overstated. The book gets the job done.
2. For a non-fiction book, its a really easy read.
April 7, 2016
Well, there is something in this book but I would still say that this book is made in much too easy way by the author. Why do I say such strong words? As author states in the foreword this book is rather a collection of essays and articles prepared by author for financial periodics. Some of the chapters were based on the conference presentations conducted by the author who describes himself as a kind os stand-up comedian with roots in the financial industry.
Following that this book has one huge disadvantege. The chapters are loosely coupled and not directly connected. The only two things they share are the author and the widely understood topic of the financial industry and its geek side. It might be more than enough but not for somebody who would have expected it to be some kind o miniature history of the computational finance.
Reading highly recommended but rather for the sake of entertainment.
Following that this book has one huge disadvantege. The chapters are loosely coupled and not directly connected. The only two things they share are the author and the widely understood topic of the financial industry and its geek side. It might be more than enough but not for somebody who would have expected it to be some kind o miniature history of the computational finance.
Reading highly recommended but rather for the sake of entertainment.
August 30, 2014
Some chapters are better, some less. Each chapter is based on some presentation, or episode in Leinweber's life. They seem to be loosely coupled, written separately, so there are lots of repetitions. The author seems to be obsessed with the MIT, as if nothing else exists, it's mentioned too many times too unnecessarilly. The last chapters are certainly not about "robots, computers, and mathematics" in trading, but about the '08 crisis, banking reforms, economics etc. , full of Leinweber's opinions and proposals. The first chapters are really about the trading though, and are quite interresting indeed. I also like the cover.
September 24, 2011
I enjoyed this book, I would have rated it 5/5 if the author had not put the last two sections on his thoughts on how to solve the real estate market. All in all it is a great book. The final sections were stupid though.
August 25, 2009
Sengkang Library 332.64273
December 16, 2010
Focuses the whole time on high-frequency trading like that is the only game in town. Very cursory description of actually trading strategies that are used.
August 13, 2010
Ok most everything covered elsewhere. Interesting stuff on news/text trading.
Displaying 1 - 7 of 7 reviews