For those interested in microeconomics, the Medallion Fund is probably the most profitable application of Markov chains to date (also the most profitable mutual

For those interested in microeconomics, the Medallion Fund is probably the most profitable application of Markov chains to date (also the most profitable mutual fund to date). It was founded by renowned mathematician Jim Simons [0], building upon the Baum–Welch algorithm [1]. Very interesting stuff. [0] https://en.wikipedia.org/wiki/Renaissance_Technologies https://en.wikipedia.org/wiki/Renaissance_Technologies [1] https://en.wikipedia.org/wiki/Baum%E2%80%93Welch_algorithm https://en.wikipedia.org/wiki/Baum%E2%80%93Welch_algorithm