Deepak Gurnani, Founder and Managing Partner of Versor Investments and former CIO of Investcorp, shares insights on integrating AI into investment strategies. He highlights the critical first steps of data curation and feature engineering, noting common errors in data handling. Gurnani contrasts conventional with alternative data and discusses challenges in machine learning transparency. He also shares innovative AI-driven trading strategies and emphasizes the importance of human expertise alongside technology in investment decision-making.
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insights INSIGHT
Five Steps of AI Investing
Successful AI investing involves five steps: problem framing, data curation, feature engineering, model training, and evaluation. - The greatest edge lies in problem framing, data curation, and feature engineering rather than flashy algorithms alone.
insights INSIGHT
Conventional vs Alternative Data
Conventional data like financial statements is clean and plentiful; edge comes from interpretation. - Alternative and unstructured data like transcripts and satellite images require heavy human expertise for cleaning and hypothesis mapping.
volunteer_activism ADVICE
Handle Alternative Data Carefully
Use multiple data vendors when working with alternative data like credit card transactions to reduce bias. - Evaluate vendor reliability and panel stability thoroughly to ensure data consistency over time.
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In this book, Minsky examines the natural inclination of complex, capitalist economies toward instability. He discusses how booms and busts are unavoidable results of high-risk lending practices and the impact of 'speculative finance' on investment and asset prices. Minsky also addresses the government's role in bolstering consumption during times of high unemployment and advocates for increased Federal Reserve oversight of banks. His work is particularly relevant for understanding financial crises and the behavior of economic agents during periods of economic euphoria and subsequent contractions.
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Deepak Gurnani is the Founder and Managing Partner of Versor Investments. He is the former CIO of Investcorp’s Hedge Fund Group and was one of its founding members in 1996. Deepak was also a member of its Management Committee. He retired from Investcorp in March 2013. Prior to Investcorp, Deepak spent six years with Citicorp. In this podcast we discuss everyone talking about data being important gets it wrong, five steps of applying AI/machine learning in investment management, conventional vs. alternative and unstructured data, and much more.
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