Innovation is not just about technology; it's about mindset.

我们所知道的很少，我们所不知道的却是无限的。

Trend-following is not such a good model. It’s simply eroded. Things change and being able to adjust is what made Mr. Simons so successful. “Statistic predictor signals erode over the next several years； it can be five years or 10 years. You have to keep coming up with new things because the market is against us. If you don’t keep getting better， you’re going to do worse.

江河的水之所以浩浩荡荡，并非只由一个源头流出来；无比珍贵的皮衣，并非只由一只狐狸腋下的毛皮所能制成。