About

David Leinweber is a Haas Fellow in Finance at the Haas School of Business at UC Berkeley, and founding Director of the Center for Innovative Financial Technology at Berkeley. He is the founder of two pioneering financial technology firms and successfully managed multibillion-dollar institutional portfolios for many years.

Dr. Leinweber has consulted, published, and lectured widely on the use of advanced technology, artificial intelligence, and intelligence amplification in finance—always in an easy and accessible way—and has earned the reputation as “class clown of the quantitative investing industry.”

He received BS degrees in physics and electrical engineering from the Massachusetts Institute of Technology and a PhD in applied mathematics from Harvard University.

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  • Forward by Ted Aronson (Nerds on Wall Street Forward by Ted Aronson Quantitative finance is not a topic usually associated with laughter. That is about to change with the publication of Nerds on Wall Street. I was first exposed to Dave Leinweber’s wit when he delivered a speech entitled “Nerds on Wall Street.” I believe the event happened 20 or 25 [...])
  • Chapter 09 – The Text Frontier – AI, IA, and the New Research (Hunting Investment Alpha and Trading Alpha from Online News, Social Media, and Rumors Alpha hunters are always looking for new territory. When a strategy becomes known and used by too many players, the collective market impact of getting in and getting out will squeeze out all the profit juice, and only the lowest-cost transactors (large sell-side [...])
  • Chapter 06 – Stupid Data Miner Tricks (To Err Is Human. To Really Screw Up, You Need a Computer. — Popular Campus T-shirt, circa 1980 Stupid Data Miner Tricks in Quantitative Finance This chapter started out over 10 years ago as a set of joke slides showing silly, spurious correlations. Originally, my quantitative equity research group planned on deliberately abusing the genetic algorithm (see Chapter [...])
  • Overview of “Nerds on Wall Street” (Technology has transformed global markets, but this is nothing new. Markets have been shaped by machinery for hundreds of years, and this continues at a rapid pace today. Author David Leinweber—a computer scientist who accidentally stumbled upon Wall Street and became an innovator in the application of modern information technology in trading and investing—is a well-qualified [...])
  • Introduction to Nerds on Wall Street (Introduction to "Nerds on Wall Street" I hope people think of this book as sort of a Hitchhiker’s Guide to Wired Markets. There are no robots parking cars for six million years, but there are robots trading millions of shares in six milliseconds, so maybe that’s close enough. In 2006, I got a call from another nerd [...])
  • Chapter 02 – Greatest Hits of Computation in Finance (Computational Finance, Stock Market Analysis, and Investment Trading "A computer does not substitute for judgment any more than a pencil substitutes for literacy. But writing without a pencil is no particular advantage." - Robert McNamara The Journal of Portfolio Management (JPM*) is one of the more upscale investment management publications around. For $500 a year, you get [...])
  • Chapter 04 – Where Does Alpha Come From? (Where Does Stock Alpha and Alpha Return Come From? "Life Is Alpha. The Rest Is Details." — Popular T-shirt at hedge fund manager events There was a time not too long ago when, if you posed the question “Where does alpha come from?” to a roomful of academic financial economists, most of them would complain: “It’s a [...])
  • Chapter 14 – Nerds Gone Green – Nerds on Wall Street, off Wall Street (Clean Energy and Nerds off Wall Street This book closes with another chapter that, like the previous two, I didn’t expect to be writing. Recent headlines (Wall Street layoffs could reach 200,000, Citigroup is cutting 50,000 jobs) imply that many nerds on Wall Street (NOWS), mostly innocent bystanders in the meltdown, may soon find themselves on [...])
  • Praise for “Nerds On Wall Street” ("Leinweber isn't half as crazy as people said! He foresaw the profound change that wired technology would bring to markets (robots trading millions of shares in six milliseconds). Now he nails the Stupid Financial Engineering Tricks that dumped the markets, and offers his patented, sound insights on how the nerds will help bring us back." [...])