I don’t disagree with the emergence/complexity progression statement but the issue is more fundamental: you cannot accurately model a system within that system.

I don’t disagree with the emergence/complexity progression statement but the issue is more fundamental: you cannot accurately model a system within that system. The thought experiment doesn’t work because the hedge fund would need to be transported back with networking and information access they can’t get in 1985. They would show up, try to get onto the trading floor, be rejected, have to get re-trained, have to hire an army of data entry folks, and they would still get beat by the good old boys network and insider trading that wasn’t yet being identified and prosecuted. That’s all if they weren’t just investigated and arrested for cheating while their computers worked through their planned obsolescence timeline in some closet.