|
Prediction Company
Prediction Company was founded in Santa Fe, New Mexico, USA, in March 1991 by J. Doyne Farmer, Norman Packard, and James McGill. The company used forecasting techniques to build black-box trading systems for financial markets, mainly employing statistical learning theory. In September 1992, Prediction Company entered into an exclusive contract with O'Connor and Associates, a Chicago derivatives trading house, to provide investment advice and technology. Soon after O'Connor merged with Swiss Bank Corporation, which later merged with Union Bank of Switzerland (UBS). Prediction Company's contract was renewed multiple times and in 2005 UBS purchased Prediction Company outright. After being a wholly owned subsidiary of UBS, Prediction Company was acquired in 2013 by an affiliate of Millennium Partners, L.P. Prediction Company was shut down on September 1, 2018. In twenty-six years of operation, Prediction Company had only one losing year, 2007. See also * BiosGroup BiosGroup is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Santa Fe, New Mexico
Santa Fe ( ; , Spanish for 'Holy Faith'; tew, Oghá P'o'oge, Tewa for 'white shell water place'; tiw, Hulp'ó'ona, label=Tiwa language, Northern Tiwa; nv, Yootó, Navajo for 'bead + water place') is the capital of the U.S. state of New Mexico. The name “Santa Fe” means 'Holy Faith' in Spanish, and the city's full name as founded remains ('The Royal Town of the Holy Faith of Saint Francis of Assisi'). With a population of 87,505 at the 2020 United States census, 2020 census, it is the List of municipalities in New Mexico, fourth-largest city in New Mexico. It is also the county seat of Santa Fe County. Its metropolitan area is part of the Albuquerque, New Mexico, Albuquerque–Santa Fe–Las Vegas, New Mexico, Las Vegas Albuquerque–Santa Fe–Las Vegas combined statistical area, combined statistical area, which had a population of 1,162,523 in 2020. Human settlement dates back thousands of years in the region, the placita was founded in 1610 as the capital of . It replace ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norman Packard
Norman Harry Packard (born 1954 in Billings, Montana) is a chaos theory physicist and one of the founders of the Prediction Company and ProtoLife. He is an alumnus of Reed College and the University of California, Santa Cruz. Packard is known for his contributions to chaos theory, complex systems, and artificial life. He coined the phrase "the edge of chaos". Biography Between 1976 and 1981, Packard formed the Dynamical Systems Collective at UC Santa Cruz with fellow physics graduate students, Rob Shaw, Doyne Farmer, and James Crutchfield. The collective was best known for its work in probing chaotic systems for signs of order. Around the same time, he worked with Doyne Farmer and other friends in Santa Cruz, California to form the Eudaemons collective , to develop a strategy for beating the roulette wheel using a toe-operated computer. The computer could, in theory, predict in what area a roulette ball would land on a wheel, giving the player a significant statistical advan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forecasting
Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results. Prediction is a similar but more general term. Forecasting might refer to specific formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods or the process of prediction and resolution itself. Usage can vary between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period. Risk and uncertainty are central to forecasting and prediction; it is generally considered a good practice to indicate the degree of uncertainty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Algorithmic Trading
Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of computers relative to human traders. In the twenty-first century, algorithmic trading has been gaining traction with both retail and institutional traders. It is widely used by investment banks, pension funds, mutual funds, and hedge funds that may need to spread out the execution of a larger order or perform trades too fast for human traders to react to. A study in 2019 showed that around 92% of trading in the Forex market was performed by trading algorithms rather than humans. The term algorithmic trading is often used synonymously with automated trading system. These encompass a variety of trading strategies, some of which are based on formulas and results from mathematical finance, and often rely on specialized software. Examples o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Market
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly ''exchanges'', organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange. This may be a physical location (such as the New York Stock Exchange (NYSE), London Stock Exchange (LSE), JSE Limited (JSE), Bombay Stock Exchange (BSE) or an electronic system such as NASDAQ. Much trading of stocks takes place on an exchange; still, corporate actions (merger, spinoff) are outside an exchange, while any two companies or people, for whatever reason, may agree to sell the stock from the one to the other without using an exchange. Trading of currencies and bonds is largely on a bilateral basis, although some bonds trade o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistical Learning Theory
Statistical learning theory is a framework for machine learning drawing from the fields of statistics and functional analysis. Statistical learning theory deals with the statistical inference problem of finding a predictive function based on data. Statistical learning theory has led to successful applications in fields such as computer vision, speech recognition, and bioinformatics. Introduction The goals of learning are understanding and prediction. Learning falls into many categories, including supervised learning, unsupervised learning, online learning, and reinforcement learning. From the perspective of statistical learning theory, supervised learning is best understood. Supervised learning involves learning from a training set of data. Every point in the training is an input-output pair, where the input maps to an output. The learning problem consists of inferring the function that maps between the input and the output, such that the learned function can be used to predict t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
O'Connor And Associates
O'Connor & Associates was a Chicago-based options trading firm, with particular emphasis on financial derivatives. The firm was acquired by Swiss Bank Corporation (later merged with Union Bank of Switzerland to form UBS). O'Connor was headquartered in Chicago and occupied the former offices of the Chicago Board of Trade. At the time of its acquisition by Swiss Bank Corporation, O'Connor had over 600 employees worldwide, 230 of which were based in Chicago. The remaining 400 employees were involved with O'Connor's Swiss Bank joint venture, which was formed in 1989.'. History O'Connor was founded in 1977 by mathematician Michael Greenbaum and was named for Edmund (Ed) and Williams (Bill) O'Connor. The O'Connor brothers had made a fortune trading grain on the Chicago Board of Trade and founded First Options, a clearing house. The O'Connors provided Greenbaum, who had run risk management for First Options, with the capital to start his own firm. SBC had established a strategic rela ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative (finance)
In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be used for a number of purposes, including insuring against price movements ( hedging), increasing exposure to price movements for speculation, or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange such as the Chicago Mercantile Exchange, while most insurance contracts have developed into a separate industry. In the United States, after the financial crisis of 2007–2009, there has been increased pressure to move derivatives to trade on exchanges. Derivatives are one of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss Bank Corporation
Swiss Bank Corporation was a Swiss investment bank and financial services company located in Switzerland. Prior to its merger, the bank was the third largest in Switzerland with over CHF300 billion of assets and CHF11.7 billion of equity. Throughout the 1990s, SBC engaged in a large growth initiative, shifting its focus from traditional commercial banking into investment banking, in an effort to match its larger Swiss rival Credit Suisse. As part of this strategy, SBC acquired US-based investment bank Dillon Read & Co. as well as London-based merchant bank S.G. Warburg in the mid-1990s. SBC also acquired Chicago-based Brinson Partners and O'Connor & Associates. These acquisitions formed the basis for a global investment banking business. In 1998, SBC merged with Union Bank of Switzerland to form UBS, the largest bank in Europe and the second largest bank in the world. The company's logo, which featured three keys, symbolizing "confidence, security, and discret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Union Bank Of Switzerland
Union Bank of Switzerland (UBS) was a Swiss Investment banking, investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998, to become UBS to form what was then the largest bank in Europe and the second largest bank in the World. UBS was formed in 1912 through the merger of the Bank in Winterthur and Toggenburger Bank, both founded in the early 1860s. UBS then continued to grow through acquisitions, including Aargauische Kreditanstalt in 1919, Eidgenössische Bank in 1945, Interhandel, Interhandel Basel in 1967, Phillips & Drew in 1986, and Schröder, Münchmeyer, Hengst & Co. in 1997 among others. The historical UBS logo comprises the initials "UBS" horizontally, referring to the "Union Bank of Switzerland", "Union de Banques Suisses" or "Unione di Banche Svizzere", crossed by vertical "SBG", referring to the name of the bank in German "Schweizerische B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BiosGroup
BiosGroup is a Santa Fe, New Mexico-based for-profit company founded in 1997 by Stuart Kauffman and Ernst & Young (now Capgemini Ernst and Young) which aimed to commercialize complexity science software in applications that helped companies manage projects and supply chains. BiosGroup was a spin-off from the Santa Fe Institute. Its clients included Southwest Airlines, P&G, Ford Motor Company, Ford, Boeing, SAP AG and Texas Instruments; as well as government agencies like the Office of Naval Research and the Internal Revenue Service. In 2000, it received investments of $5 million from Procter & Gamble and $8 million from Ford Motor Company. At its peak, BiosGroup employed about 150 people in offices in Santa Fe, New Mexico, Santa Fe, Boston, London, Bulgaria, and Washington, DC. BiosGroup spun off several prospering companies including: eXchange Advantage; Qforma (previously Commodicast); Icosystem; Genpathway (previously CIStem); and EuroBios SA. BiosGroup's consulting operations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roger Jones (physicist)
Roger D. Jones (born 1953) is an American physicist and entrepreneur. He currently is a Research Fellow at the European Centre for Living Technology at the University of Venice, Italy. Scientific Interests Jones, trained in physics at Dartmouth College, worked as a staff physicist at Los Alamos National Laboratory from 1979 to 1995. His primary research interests were in plasma physics, laser fusion, and machine learning. Jones's current interests are in molecular computation in biological systems and serious gaming. He is currently involved in a European-Union project to personalize treatment for diabetic kidney disease. Startups Jones, along with other Santa Fe scientists and entrepreneurs such as Doyne Farmer, Norman Packard, Stuart Kauffman, John Casti, and David Weininger, founded several high-technology startup companies in the emerging Santa Fe technology community, dubbed by Wired Magazine as the "Info Mesa". Much of the effort of these startups focused on finance an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
c.1920.png "Click for more on -> Swiss Bank Corporation")
_Bahnhofstrasse_44_c.png "Click for more on -> Union Bank Of Switzerland")