When everyone tries to sell at the same time, liquidity disappears.
当每个人都试图同时出售时,流动性就消失了。
We search through historical data looking for anomalous patterns that we would not expect to occur at random. Our scheme is to analyze data and markets to test for statistical significance and consistency over time. Once we find one, we test it for statistical significance and consistency over time. After we determine its validity, weask, ‘Does this correspond to some aspect of behavior that seems reasonable?’
最大的风险是不冒任何风险。在一个快速变化的世界里,唯一注定失败的策略就是不冒险。
The most important thing is to be honest with yourself and with what you do.