Fascinating conversation with Young Cho, head of research at the financial analysis firm Jane Street, on the challenges of using machine learning and LLMs in the context of financial data.
Machine learning in a financial context is just really, really hard... you can think of machine learning in finance is similar to building an LLM or text modeling except that instead of having, let's say one unit of data, you have 100 units of data. That sounds great. However, you have one unit of useful data and 99 units of garbage and you do not know what the useful data is and you do not know what the garbage or noise is.
