Overview of Big Data
By now, you've almost certainly heard of "big data." It's been around long enough to prove more than a mere buzzword. But what exactly is big data, and how are businesses on both Wall Street and Main Street using it? In this interactive presentation, Hamilton Lin, CFA, finance expert, Excel guru, and founder of Wall Street Training & Advisory, breaks down big data into small, digestible chunks, laying out the puzzle pieces that lie ahead of any company aiming to remain competitive today.
What is Big Data?
While "quants" and other market wizards are no strangers to leveraging sophisticated statistical analysis to gain an edge in investing and trading, the rest of us have some catching up to do. With people producing unfathomable amounts of data every second, is there "alpha" to be generated beyond the portfolio? The big data paradigm has touched - and revolutionized - almost every industry, from politics to retail to restaurants. By studying specific news events and current practices from companies of all sizes, the big picture becomes clearer: the age of big data is well under way.
Challenges with Big Data
With such tremendous, untapped potential comes an equally sizable set of challenges. These difficulties can be grounded in fundamental technology concepts such as "garbage in, garbage out" or more abstract, dealing with overarching moral issues. Identifying the dangerous pitfalls of collecting and crunching all these numbers is just as important as knowing how to use it for good. Do you know what to watch out for before you pick up this powerful tool?
Big Data on Wall Street
Apart from algorithmic trading, there is still a lot of room for big data in finance. Risk management and compliance is a classic example: now that the SEC requires on-demand reporting, will you be able to rely on a few employees using Excel to verify records and exposure data for the two million trades that your desk placed today? What about smart beta? Who will hire an independent investment manager who picks new stocks once a month when "robo-advisors" can re-balance portfolios based on oil inventory numbers released ten minutes ago?
Portfolio Optimization with Excel and Python
Of course, a session with Wall Street Training & Advisory wouldn't be complete without some practical applications. All this talk about big data must be accompanied with a quantitative finance demonstration. We'll do a quick demonstration of portfolio optimization in Excel which grows increasingly inelegant as the universe of securities expands. Afterwards, witness how the relatively rigid Excel solution can be replicated in Python, without as many constraints and hassles. Python, like big data, is not a new development, but it has been growing rapidly in popularity in big data circles. Favored for its ease of learning, extendibility, and flexibility, Python can wrangle many otherwise complex tasks in a concise fashion.
Wrapping up, you and your colleagues will have a handful of very important issues to ponder. How will your business benefit from big data? How are your competitors already navigating the space? It is no longer a matter of which departments or functions will utilize it. The question is: how will they all interact with one another, revolving around big data as their guiding light?
Members - Free
Nonmembers - $15
Student-Members - Free
CFA Institute Qualified Activity: Eligible for 2 credit hours
Attire: Business Casual
Menu: Light snacks and refreshments
Registration: Register online below
Hosted by: Education Advisory Group
3:30 pm - 4:00 pm - Registration
4:00 pm - 6:00 pm - Program
Instructor: Hamilton Lin, CFA
Hamilton Lin, CFA, is Founder & CEO of Wall Street Training & Advisory, Inc. (wallst.training), a corporate training and advisory firm that teaches the fundamentals of financial and credit analysis, modeling and valuation. WST has a nearly two-decades-long successful track record providing training, capital raising and advisory services to clients in investment banking, mergers & acquisitions, buy and sell-side research, private equity, hedge funds, venture capital, Fortune 500 companies, government agencies, regulatory authorities and professional organizations worldwide.
Lin has a broad background in investment banking and mergers & acquisitions in diverse industries ranging from oil & gas to insurance to asset management and related sectors. He has evaluated hundreds of transactions and closed scores of deals, ranging from plain vanilla deals, to squeeze-outs, LBOs and distressed situations ranging in deal value from $10 million to over $6 billion.
Prior to founding WST, Lin worked at: Goldman Sachs Investment Banking DRG, where he standardized his group's best practices; Bank of America's M&A department, where he customized many of the firm's models; various boutique middle-market investment banks executing private transactions in insurance and asset management; and Ryan Labs, an asset-liability asset management firm.
Lin teaches globally, from all major cities in the USA & Canada including NYC, Boston, Chicago, Houston, San Francisco, Toronto & Montreal, as well as Asia, including Hong Kong, Singapore, Shanghai, Beijing, Tokyo, Kuala Lumpur, Manila and most major financial hubs. He is a former Adjunct Professor at NYU Stern School of Business, Baruch College and Hunter College. Lin graduated from NYU Stern in Finance and International Business, is a Chartered Financial Analyst and also teaches the CFA exam.
About Wall St. Training:
Wall St. Training provides professional financial training solutions to Wall Street through hands-on classroom training and customized corporate training programs for financial analysis which take a hands-on, interactive, practical, non-theoretical approach. Wall Street Training's clients include Bank of America/Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank, Fidelity, GE, Goldman Sachs, JPMorgan, Morgan Stanley, TPG, and many others. For more information: www.wallst-training.com and www.wstselfstudy.com.
*Special Notes Regarding Fees:
Credit card is required to guarantee ALL reservations. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, November. 28. If guests fail to cancel before the deadline and/or fail to attend the event they will be charged a $20 fee.
Members of any CFA society may attend at the CFA Society Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.