Newsgroups: comp.ai.neural-nets
Path: cantaloupe.srv.cs.cmu.edu!das-news2.harvard.edu!news2.near.net!news.mathworks.com!yeshua.marcam.com!zip.eecs.umich.edu!newsxfer.itd.umich.edu!nntp.cs.ubc.ca!news.UVic.CA!butterfly!nmicklew
From: nmicklew@butterfly.UVic.CA (Nancy  Micklewright)
Subject: Re: Newbie question on stock prediction
Message-ID: <1994Oct30.074934.13692@sol.UVic.CA>
Sender: "S. Berer" nmicklew@nero.uvic.ca 
Nntp-Posting-Host: butterfly.uvic.ca
Organization: University of Victoria, Victoria, BC, Canada
References: <CyAoGL.pL@fi.gs.com> <38mn7a$i6t@newsbf01.news.aol.com>
Date: Sun, 30 Oct 94 07:49:34 GMT
Lines: 35

>> Programmed trading is NOT governed by AI systems, thats why its called
>> programmed trading.>
 
>I've seen 'em . . . they ARE artificial systems . . .  . variously fuzzy,
>neural, and expert. Most are quite complicated (sophisticated) and several
>are genuinely clever in their approach . . .  (it's all math)

Amazing!  Here are people talking about top secret research and
technology, and speaking of it as if it were public information!
I am impressed especially by the person who has "seen em".  Golly,
what are your credentials that you not only have been allowed into
the inner sanctum of numerous research departments, but they've 
disclosed their technology to you, to boot?  Maybe you're for real,
but I'm skeptical.  Please illuminate me.
Then there's the statements, in this newsgroup and others, about
most of the trading volume on the NYSE is a product of programmed
trading.  Oh really!  This is ground breaking research, and it
would have to be illegally obtained information, as well.  The
identities of parties initiating trades, and the accounts they are
trading for is privileged information, controlled by each brokerage
house.  People that make such claims apparently have access to 
the accounts of every brokerage house trading NYSE issues!
Hooeey, baby!
Then there's the very STRANGE idea that if someone develops a system
to predict prices, suddenly everyone else will have that system,
miraculously, and everyone will not only use it all the time and
with all or most of their money, but all with the same investment
horizons and purposes, and so suddenly, and probably immediately
the system will stop working!  What an incredible chain of logic
(sic) that involves.
PLEASE, spare us these myths and madnesses!

Steve Berer
nmicklew@nero.uvic.ca

