Re: Another nutcase using AI to play the market

sounds to me like he's way behind the curve. hedge funds
have been employing quants and ai scientists for years. the
steady decrease in volatility over recent years is probably
the result of so many smart guys trying to capture every
available short term edge.



"Bill Reid" <hormelfree@xxxxxxxxxxxxxxxx> wrote in message
news:hWS_e.337928$5N3.169594@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
>I still contend that it's probably a waste of time to
>emulate the human
> brain, considering all the stupid people who have one, but
> here's a guy
> who's looking for a brave new world where a robot will be
> running
> FEMA, and we'll all be trillionaires from our AI stock
> market picks:
>
> http://news.com.com/Deciphering+a+brave+new+world/2008-1082_3-5885116.html?t
> ag=nefd.lede
>
> Deciphering a brave new world
> September 29, 2005, 4:00 AM PT
> By Declan McCullagh
> Staff Writer, CNET News.com
>
> Ray Kurzweil was one of the most remarkable and
> prolific inventors of the late 20th century.
>
> Now Kurzweil, who can claim credit for developing the
> first text-to-speech
> synthesizer and the first CCD flat-bed scanner, is busy
> inventing a future
> in
> which humans merge with machines and the pace of
> technological development
> accelerates beyond recognition.
>
> ...
>
> You said at a speech last week in San Francisco that you
> were working on a
> project with former Microsoft CFO Michael W. Brown that'll
> result in a hedge
> fund. Can you tell me about that?
>
> Kurzweil: It's been a major project for about six years.
> It's applying my
> field,
> detecting subtle patterns, and using technology
> forecasting. Six years ago
> the
> project wasn't fully feasible because we didn't have rapid
> access to all
> tick data
> for stocks. You really couldn't place trades very
> effectively online. The
> technology wasn't there--it can't take two weeks for the
> computer to make a
> decision that needs to be made in five seconds.
>
> (My system) doesn't make perfect predictions. But what we
> can do is predict
> them substantially better than chance. That puts us in the
> position of being
> the
> house in a casino. It places lots of bets, some win and
> some lose, but it
> consistently makes money. We haven't had a down month yet.
> It makes 80 to
> 100 percent returns a year.
>
> ---end of interview excerpt
>
> ---
> William Ernest Reid
>
>
>


.

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