adaptive, or capable of learning and adjusting on its own, much like Henry Laufer’s trading system for futures. If the model’s recommended trades weren’t executed, for whatever reason, it self-corrected, automatically searching for buy-or-sell orders to nudge the portfolio back where it needed to be, a way of solving the issue that had hamstrung Frey’s model. The system repeated on a loop several times an hour, conducting an optimization process that weighed thousands of potential trades before issuing electronic trade instructions. Rivals didn’t have self-improving models; Renaissance now had
...more
