Changes in the size, speed, and capabilities of databases underlie every major technology change in capital markets. Entrepreneur and computer scientist Michael Stonebraker will discuss what it all means—on and off Wall Street.
Three slides in three minutes. How it is possible to harness collective intelligence to generate a 40% alpha.
The Coming Revolution in Financial Information
Devin Wenig (Thomson Reuters Markets), Tim O'Reilly (O'Reilly Media, Inc.)
Reuters is the largest information services company on the planet. It sits on some of the most widely used data, but is that data's time past? We'll find out with the company's Devin Wenig.
Richard Bookstaber on Risk and Financial Technology: Have We Gone Too Far?
Richard Bookstaber (Author of A Demon of Our Own Design), Bill Janeway (Warburg Pincus LLC)
The author of "A Demon of Our Own Design," argues that technology, rather than being a solution in financial markets, is part of the problem—and the creator of even more and potentially calamitous problems. Innovation is running amok, creating immense problems in calculating and managing risk.
Collective Money Management
Jimmy Guterman (O'Reilly Media, Inc. ), Ken Kam (Marketocracy), Steven A. Carpenter (Cake Financial), Weiting Liu (SocialPicks), Richard 'Rikki' Tahta (Covestor), Michiel de Boer (Zecco)
The stock market has long been seen as the antithesis of sharing. There is only so much money to be made, so why would you tell anyone else your good ideas? How, then, do we explain the rise of a host of new web-based services predicated on sharing information about trades and stocks?
Break: Morning Break
“All the Information” or “Just the News”
Kevin Pomplun (SkyGrid)
Today’s hedge fund managers, portfolio fund managers, and research analysts enjoy state-of-the-art desktop news feeds but still spend considerable time and effort scouring the Internet for market-moving information.
Money is Beautiful: Looking at Markets in New Ways
Martin Wattenberg (IBM Research )
More data is better, right up until it isn’t. Because after a while everything starts to disappear in data smog, with meaning lost in terabytes of data feeds and general information overload. How do you cope?
Swimming Successfully in a Flow of Realtime News
Brian O'Keefe (Panopticon Software, Inc)
Markets are all about changes, about what is different now then what was going on ten minutes ago—and about what’s different from what people expected.
Panopticon’s visualization tools process the motherlode of news data from Bloomberg, Reuters, and other real time sources to produce a fascinating picture of what’s different and what matters.
What Hitwise Knows
Bill Tancer (Hitwise)
Wouldn’t you like to know what is being searched for right now in Google? Better yet, what is being searched for at the company of your choice? At Goldman? At Renaissance? While that data is not yet available, the next best thing is available at search analytics company Hitwise.
12:00pm-1:15pm (1h 15m)
eventVestor Provides Fresh Insights into Event Driven Investment Analysis
Anju Marempudi (EventVestor)
eventVestor provides the most comprehensive data and analytics platform for event driven investment analysis and business decision-making.
Blogs, Analysts, and the Future of Equity Research
Henry Blodget (Silicon Alley Insider, Inc.), Barry L. Ritholtz (Fusion IQ), Nouriel Roubini (RGE Monitor), Jonathan Glick (Gerson Lehrman Group)
Equity research has gone from market hero to market zero in a decade. Now, equity research is seeing a resurgence and some of the best research is happening on blogs. Are blogs the future of equity research? Does sell-side research even have a future? Find out.
A Conversation with John Seo
John Seo (Fermat Capital Management, LLC), James Altucher (Stockpickr)
Market partcipants like to create new markets. People want to trade stocks? Options? Commodities? Art? No problem. But trading in all these things requires information, otherwise there is nothing to trade on. Case in point: Catastrophe bonds.
Predicting the Future of Prediction Markets
Jason Jones (HighStep Capital), Craig Kaplan (PredictWallStreet, Inc. ), Adam Siegel (Inkling Markets), Justin Wolfers (The Wharton School, University of Pennsylvania), Alex Forshaw (The Tradesports Political Maven)
There is no denying the appeal of web-based prediction markets. They are the Web 2.0 notion of wisdom of crowds in action, with a knack for out-predicting experts on elections and sporting events. But can they ever outperform the biggest and most liquid prediction market of them all, the stock market?
Break: Afternoon Break
Steve Skiena: Money, the Internet, and Jai-Alai
Steve Skiena (Stony Brook University)
Back in the 1980s, computer scientist and hacker Steve Skiena thought of a great way to beat jai-alai markets. Trouble was, it required faster computers and more data than he had at the time. That changed in the late 1990s, as Skiena exploited faster computers and web-based data to beat jai-alai markets, at least for a while.
What Do Hedge Fund Managers Really Want?
Cathleen Rittereiser (Alternative Asset Managers, L.P. (AAM) ), JP Rangaswami (BT Design), Sean Park (Nauiokas Park), Finbar Taggit (www.fintag.com)
One of the problems with trying to transform Wall Street and capital markets is that neither is very good at being transformed. While you might think that market participants are aggressive adopters of innovative technologies, it is actually hit-and-miss. It is better, goes the old Wall Street adage, to be wrong together, than wrong alone.
Crossing the Data Line: Scraping, Online Data, and Web-based Databases
Tony Berkman (Majestic Research ), Stephen Kaufer (TripAdvisor), Penny Herscher (FirstRain, Inc.)
The Web is like an infinite library. Prices, popularity, schedules, economic releases, weather data, ocean buoy heights—it’s all there, and often in realtime. It can feel like a data bonanza to more enlightened financial market sorts, with this profusion of data opening up myriad doors for new strategies.
What's Next? A Venture Capital View
Stewart Alsop (Alsop Louie Partners), Roger Ehrenberg (IA Ventures), Bruce Golden (Accel Partners), Cary Davis (Warburg Pincus, LLC), Salil Deshpande (Bay Partners)
For the longest time most of the innovation in financial markets came from the inside. Teams would hive off from major brokerage firms, starting hedge funds, or less, commonly, new companies providing data and research services. Web 2.0 is changing all of this.