A blog for market and financial technology. Hosted by
"longtime financial markets AI geek" David Leinweber. Author of Nerds on Wall Street (Wiley 2009)
Founding Director of the Center for Innovative Financial Technology at Berkeley Lab:
Back in the old days, this was a famous cartoon about the web.
Now, not only do they know you’re a dog, they know your size, preference in kibble, chew toys, and if you have fleas. It may sound small, but it’s in the Big Data-verse.
In many ways, using the "Big Data" from people's travels on the web is the new Quant Frontier. I've learned a bit more about this from some ex-quants now busy applying bleeding edge methods to new problems.
But if we measure by entrepreneurial energy, especially in Silicon Valley, there is more perceived value in the new flavor of Big Data than the old. The Big Data that tracks what people do on the net.
This idea was particularly vividly stated to me by George John, the CEO of Rocket Fuel, a fast-growing Big Data science firm in the Valley. George, and his lead quant jock, Mike Benisch. Both have quant investing cred, having worked on Wall Street, and read “Nerds on Wall Street,” and they invited me over for a visit.
George’s insight is that “Big Data is the New Quant Investing,” and the more I think about it, as a longtime quant investor, the more I think George is right.