“Higher mathematics may be dangerous and lead you down pathways that are better left untrod.” — Warren Buffett, 2009 Berkshire Hathaway Annual Meeting Success in most areas of life requires having a clear and coherent view of reality along with
The Wall Street Journal published an interesting profile of a small hedge fund which employs an “artificial intelligence” strategy seeking to replace human judgment with the wisdom of computer algorithms. Spencer Greenberg, founder of Rebellion Research, is the 27 year old son of well known value investor Glenn Greenberg. The hedge fund has also attracted the personal funds of Jean-Marie Eveillard who is also well known for employing value investing strategies. One interesting aspect of Mr. Greenberg’s fund is that holding periods average four months. This is hardly a long term strategy but a marked contrast to the minutes or seconds that positions in high frequency strategies are often held. Read this article for more information and a video.