This topic was proposed by Maggie for our End of the Financial Year discussion. Please see the article below:
Some supplementary information:
- Bob Horning is a writer, mostly about technology; former New Inquiry, Real Life editor.
- "Smell the glove" is a fictional album of the band Spinal Tap in "This Is Spinal Tap", a 1984 American mockumentary film.
- The picture in the article is of Tony Hendra, (10 July 1941 – 4 March 2021) who was an English satirist and writer who worked mostly in the United States. He starred in the film This Is Spinal Tap as the band's manager Ian Faith.
- The YouTube video below "Smell the Glove by Spinal Tap" gives background information about the title of the article by Bob Horning above.
- The article above mentions the following people:
- Matt Levine (born 1978) is a columnist for Bloomberg News covering finance and business.
- Jim Simons (April 25, 1938 – May 10, 2024) was an American hedge fund manager, mathematician, and philanthropist. At the time of his death, Simons' net worth was estimated to be $31.4 billion, making him the 51st-richest person in the world.
- The video below has been compiled by Maggie. This video provides additional information on the topic.
Some questions for discussion:
- Is the fact that Jim Simons became rich a proof that this mathematical method is superior to the analytical?
- The market is irrational as it is. This approach smells like religion and grand scale manipulation. If many people use his method, wouldn’t this distort the market, like with the GameStop?
- If one adds AI, which can find the patterns, but also makes the decisions for humans, what's the point of humans?
- Does the use of data as described in the article spell the end of epistemology, rational thinking, critical thinking, and science?
Smell the Glove by Spinal Tap by SpinalTapFan01
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