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by tomp
3563 days ago
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You've no idea what you're talking about. Renaissance technology is a quantitative trading company, meaning they use computers to trade; they probably do thousands of trades per day, and consistently make a profit. There's approximately 0% chance that it's just luck. Now, you might say, they were lucky to stumble upon a strategy that works. You can also say that the strategy will stop working at some point (because of competition), so their "luck" will run out, and they might not get "lucky" in time to find a new strategy. But their past performance was most definitely not just "luck". Btw, in most other professions (e.g. the arts, technical inventions, sports) we call this kind of "luck", "skill". |
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