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1. Neural Networks in Finance and Investing: Using Artificial Intelligence to Improve Real-World Performance, Revised Second Edition (with software)

Robert R. Trippi and Efraim Turban

800 pp., 1996. Neural Networks in Finance and Investing, Revised 2/E is an updated and expanded edition of the first-ever book on financial applications of neural networks. Robert Trippi and Efraim Turban have assembled here a stellar collection of articles by experts in industry and academia on applications of neural networks in this important arena. This widely-acclaimed classic provides portfolio managers, institutional investors, bankers, and analysts with a comprehensive and fascinating introduction to this important technology and numerous insights into its most effective use. Neural network successes and failures are discussed, as well as the vast unrealized potential of neural networks in numerous specialized areas of financial decision making. Topics include:

• Neural Network Fundamentals and Overview
• Analysis of Financial Condition
• Business Failure Prediction
• Debt Risk Assessment
• Stock Market Applications
• Futures and Options Markets Applications
• Neural Network Approaches to Financial Forecasting

Included as a bonus with this new edition is a complimentary version of ThinksPro for Windows, a full-featured neural network software package that can be used for many of the applications described in the book.

Nowhere else will the financial technology professional find such an exciting and relevant in-depth examination of neural networks. Individual chapters discuss how to use neural networks to forecast the stock market, to trade commodities, to assess bond and mortgage risk, to predict bankruptcy, and to implement investment strategies. Taken together, this comprehensive collection provides a fascinating and authoritative introduction to a technology that is revolutionizing the way financial services firms operate.

This unique volume is truly essential reading for anyone wishing to stay abreast of this "cutting edge" technology.

" . . . a landmark book. Packed with difficult-to-find information, this book is the first to comprehensively and clearly address the role of neural networks in financial decision making. It belongs on the bookshelf of every financial analyst and investment manager."

Frank J. Fabozzi, Editor, The Journal of Portfolio Management

"This book clearly describes a new and exciting technology. It makes neural network technology accessible to practitioners through an extraordinary number of real applications. The book contains many examples of neural nets for prediction and risk assessment, as well as a number of promising systems for forecasting or explaining the price movements of stocks and other securities. For practitioners interested in neural networks, this book is a gold mine."

Bruce N. Lehmann, Professor of Economics and Finance, University of California, San Diego

2. Artificial Intelligence in Finance and Investing: State-of-the-Art Technologies for Securities Selection and Portfolio Management

Robert R. Trippi and Jae Kyu Lee

• Market Behavior, Black-Box Investing, and Exploitable Anomolies
• Basic Elements of AI-Based Systems
• Using AI for Asset Allocation, Timing Decisions, Pattern Recognition, and Risk Assessment
• Overview of Popular AI-Based Systems
• Basics of Knowledge Acquisition, Integration, and Maintenance
• Construction of Synergistic Knowledge Bases for Stock Selection
• Incorporating the Markowitz Portfolio Optimization Model into Knowledge-Based Systems
• Bayesian Theory and Fuzzy Logic System Components
• Machine Learning in Portfolio Selection, Including Pattern-Based Learning and Genetic Algorithms
• Neural Network-Based Systems
• Case Study of a Typical Integrated System

"A landmark book . . . The first book to comprehensively and clearly address the role of artificial intelligence in modern portfolio management."

Frank Fabozzi, Editor, The Journal of Portfolio Management

"This book describes innovations which may become standard investment procedures of the twenty-first century. Particularly noteworthy, I thought, were procedures for using expert systems to supply inputs to mean-variance analysis."

Harry M. Markowitz, Nobel Laureate in Economics

3. Chaos & Nonlinear Dynamics in the Financial Markets: Theory, Evidence, and Applications

Robert R. Trippi

500 pp., 1995. This authoritative guide covers a comprehensive range of issues associated with chaos theory. It includes sections on theoretical foundations, evidence of chaos in the stock market, evidence of chaos in commodities markets, and evidence of chaos in money markets, plus a section on advanced methodological issues. You'll also find included Chaos Explorer, a complimentary Windows software package that graphically illustrates the behavior of a number of the chaotic processes that are referenced throughout the book.

As the most thorough and up-to-date resource on this exciting topic, Chaos & Nonlinear Dynamics in the Financial Markets provides an in-depth examination of:

• The "hows," "whats," and "whys" of chaotic systems and the principles of nonlinear dynamics

• Ways of distinguishing whether observed price movements or asset returns are generated by a purely random process or by a process which includes a chaotic deterministic component.

• The practical application of chaos theory to the behavior of prices of stocks, bonds, futures contracts, options, and other financial instruments

Chaos & Nonlinear Dynamics in the Financial Markets is filled with thought-provoking insights that will prove valuable to financial analysts, economists, statisticians, portfolio managers, and anyone interested in understanding or forecasting the movements of market prices using state-of-the-art techniques.

"From financial markets to Jurassic Park, chaos theory is becoming an increasingly powerful tool for examining the way in which complex systems interact. Trippi has assembled a collection of some of the best and most current research on the subject of how prices in financial, currency and commodity markets are governed by the chaos phenomenon. Anyone doing research on the use of chaos theory to explain the behavior of prices would be well advised to read this book."

Don M. Chance, Professor of Finance, Center for the Study of Futures and Options Markets, Virginia Polytechnic Institute and State University

"The best-yet reference book on applications of chaos theory to investments . . . An impressive collection of information squarely addressing this fascinating and important subject. Authoritative and comprehensive, it contains an extraordinary number of security market applications. For practitioners seeking a better understanding of financial market behavior, this book is a must."

Alex Kane, Professor of Finance, University of California, San Diego

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