This is a summary of links featured on Quantocracy on Sunday, 05/01/2016. To see our most recent links, visit the Quant Mashup. Read on readers!
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New Book Added: Elements of Statistical Learning (h/t @Robot_Wealth) [Amazon]During the past decade there has been an explosion in computation and information technology. With it have come vast amounts of data in a variety of fields such as medicine, biology, finance, and marketing. The challenge of understanding these data has led to the development of new tools in the field of statistics, and spawned new areas such as data mining, machine learning, and bioinformatics.
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Index Investing Makes Markets and Economies More Efficient [Philosophical Economics]U.S. equity index funds have grown dramatically in recent decades, from a negligible $500MM in assets in the early 1980s to a staggering $4T today. The consensus view in the investment community is that this growth is unsustainable. Indexing, after all, is a form of free-riding, and a market can only support so many free-riders. Someone has to do the fundamental work of studying securities in