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Fair view. A few points: - Numerai does not have the ability itself, it harvests predictions from many others. - To assume that better than random guessing is
by BickNowstrom 10y ago
Fair view. A few points:
- Numerai does not have the ability itself, it harvests predictions from many others.
- To assume that better than random guessing is not possible, is to assume that the stock market is operating at maximum efficiency, and that all the hedge funds that are profitable have very lucky random number generators, instead of well-paid quants.
- The co-founder of perhaps the biggest money making hedge fund, Renaissance Technologies, has invested in Numerai. http://www.wsj.com/articles/renaissance-technologies-hedge-fund-on-a-7-billion-winning-streak-1476141061 http://www.wsj.com/articles/renaissance-technologies-hedge-f...
It's a bit like saying you don't trust any SEO company that does not rank #1 for SEO. Fair, sure. But the reality is a bit more grey. Disclosure: Won a few bitcoin on Numerai.
- bluetwo 10y agoI'm not saying it has to rank #1, I'm saying it has to move up any amount. Renaissance Technologies obviously is a good name to tout but they could have invested for reasons that don't apply to other investors, such as keeping an eye on a new/competing technique in case it bears fruit.