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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Wall Street Analytics

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  • Part 2 – Alpha as Life (Passive Investing - Active Investing - Alpha Returns Index funds are passive investments; their goal is to deliver a return that matches a benchmark index. The Old Testament of indexing is Burton Malkiel’s classic A Random Walk Down Wall Street, first published in 1973 by W.W. Norton and now in its ninth edition. For typical individual [...])
  • Part 1 – Wired Markets ( Financial Markets - Electronic Markets Not too long ago, going to a stock market meant you would meet lots of new people who were energetically shouting, running around, and making a mess with great quantities of paper. No more. Visiting a financial market now is more like visiting a telephone exchange. Computers and network gear [...])
  • Chapter 07 – A Little Artificial Intelligence Goes a Long Way on Wall Street (A Little AI Goes a Long Way on Wall Street: Artificial Intelligence and Securities Trading “If you give someone a program, you will frustrate them for a day; if you teach them how to program, you will frustrate them for a lifetime.” This is a history and technical overview of one of the earliest artificial intelligence (AI) [...])
  • Part 3 – Artificial Intelligence and Intelligence Amplification (Artificial Intelligence and Intelligence Amplification in Financial Markets Securities Markets are Machinery Now. This raises the question of how to best participate in the world’s new wired markets. People who use information technology most effectively will be rewarded. Artificial intelligence (AI) as an academic discipline began at the famous 1955 Dartmouth conference organized by John McCarthy from Stanford [...])
  • 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 [...])
  • 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 [...])
  • Part 4 – Nerds Gone Wild – Wired Markets in Distress (Financial Nerds Gone Wild - Global Markets in Distress The original plan for this book stopped after the three parts that you’ve just read. These parts are about how markets became machines, and about using more machines to pick stocks and trade them electronically, bringing in an assortment of nifty ideas from finance and computer science [...])
  • Chapter 13 – Structural Ideas for the Economic Rescue – Fractional Homes and New Banks (Structural Ideas for the Economic Rescue - Fractional Homes and New Banks Mom used to say, “If you don’t have something nice to say, don’t say anything at all.” I clearly ignored that advice in the previous chapter, with the “mad as hell” opening and analogies to an exploding meth lab run by the neighbors. This [...])
  • Contents of “Nerds on Wall Street” (Foreword by Ted Aronson Part 1 - Wired Markets Chapter 1: An Illustrated History of Wired Markets Chapter 2: Greatest Hits of Computation in Finance Chapter 3: Algorithm Wars Part 2 - Alpha as Life Chapter 4: Where Does Alpha Come From? Chapter 5: A Gentle Introduction to Computerized Investing Chapter 6: Stupid Data Miner Tricks Part 3 - Artificial Intelligence and Intelligence Amplification Chapter [...])