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Those computer models did alot of good for LTCM. Computers don't
understand that in the real world, sh*t happens. As soon as the
sharks smelled blood, no one would make a fair market for LTCM.
Whoops! How could that possibly happen? Probabilities? Reversion
to the mean? Have we ever seen p/es this high? When the last time
interest rates were this low? How can a computer predict what might
happen in the aftermath of 911 when such an event has never
occurred? I'll take a street bum over a computer anyday.
--- In realtraders@xxxx, Ira Tunik <irat@xxxx> wrote:
> Who was it that programed the computer? Certainly not another
computer. So
> the computer has a greater degree of error probability when the
answer to a
> problem is partially visual and partially mechanical as trading
is. Also,
> who is it that sets the parameters for the computer to act? Another
> computer? I don't think so. Ira.
>
> TheQuant wrote:
>
> > Hello Ira,
> >
> > IT> What about the skilled gambler or trader?
> >
> > Honestly, I do not belive that their are any skilled
traders or
> > gamblers who could possibly keep up with a computer. Remember
when Big
> > Blue beat that guy at chess? How many more games in a row
around the
> > clock could that guy play as compared to the computer.
Furthermore how
> > many more times would the computer win and with what consistency
rate?
> > Consistency is the name of the game and man is not.
> >
> > --
> > Best regards,
> > TheQuant mailto:thequant@x...
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
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